Investing For Dummies. Eric TysonЧитать онлайн книгу.
Manny’s case. Also, consider professional liability insurance to protect against a lawsuit. You may also want to consider incorporating your business (which I discuss more in Chapter 14).
Long-term disability insurance: What would you (and your family) do to replace your income if a major disability prevented you from working? Even if you don’t have dependents, odds are that you are dependent on you. Most large employers offer group plans that have good benefits and are much less expensive than coverage you’d buy on your own. Also, check with your professional association for a competitive group plan.
Life insurance, if others are dependent on your income: If you’re single or your loved ones can live without your income, skip life insurance. If you need coverage, buy term insurance that, like your auto and home insurance, is pure insurance protection. The amount of term insurance you need to buy largely depends on how much of your income you want to replace.
Estate planning: At a minimum, most people need a simple will to delineate to whom they’d like to leave all their worldly possessions. If you hold significant assets outside retirement accounts, you may also benefit from establishing a living trust, which keeps your money from filtering through the hands of probate lawyers. Living wills and medical powers of attorney are useful to have in case you’re ever in a medically incapacitated situation. If you have substantial assets, doing more involved estate planning is wise to minimize estate taxes and ensure the orderly passing of your assets to your heirs.
In my experience as a financial counselor, I’ve seen that although many people lack particular types of insurance, others possess unnecessary policies. Many people also keep very low deductibles. Remember to insure against potential losses that would be financially catastrophic for you — don’t waste your money to protect against smaller losses. (See the latest edition of my book Personal Finance For Dummies, published by Wiley, to discover the right and wrong ways to buy insurance, what to look for in policies, and where to get good policies.)
Part 2
Stocks, Bonds, and Wall Street
IN THIS PART …
Understand the marketplace of stocks and bonds and make diversified investments according to your chosen level of risk.
Master building wealth with stocks through stock mutual funds, exchange-traded funds, and individual stocks.
Explore lending investments, particularly bonds and funds, and find out how best to allocate your assets.
Comprehend the money pros’ mind-numbing jargon so you can shop for brokerage services with confidence.
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