(I now blog weekly on frugal living, personal finance & earlier retirement at:
I wish I did not have to maintain insurance policies or pay the premiums. But I'd rather do that than run the risk of having my retirement stash hit hard by some unforeseen financial catastrophe. So I've made sure to have enough insurance coverage to protect me in case I'm in an auto accident, have a big medical issue, suffer major damage to my home, need to go to a nursing home or get sued over anything.
I am paying $5474 a year in premiums for 8 policies: home, health (a 4-policy cocktail), auto, long term care and personal umbrella liability. That $5474 amounts to 41% of my annual basic living expenses!
Steep? Sure! But better than risking my retirement, don't you know?!
(For the full story of my stash-shielding insurance, feel free to visit my main blog at retiredtowin.com.)
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