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Reducing your cost of insurance by 10% can
save you $87,822 over a period of 30 years...
People spend a lot of time working in their life to make enough
money to pay the bills, but very often they spend little time on
where they spend money on those intangible items and
services...like insurance.
Spend wisely!
Have you ever added up how much you pay in a year for insurance?
An average household could easily pay:
$1,300 for auto
insurance
$500 for house
insurance
$800 for life
insurance
$2,400 for
health insurance
$400 for
mortgage insurance
$600 for
dental insurance
$6,000 total per year
Car insurance and
life insurance comparison shopping saves you money...
Insurance savings of $87,822 with 10%cut
Insurance savings of $131,734 with 15%cut
Insurance savings of $175,645 with 20%cut
Assumptions used in example:
The original annual cost of insurance
is $6,000 and any cost savings are invested in a tax-deferred
account for 30 years at and average return of 9% to estimate the
true opportunity cost of higher insurance premiums
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Career Life I.Q.
question # 2 |
| Imagine if you could save 15% on your $6,000 annual
insurance bill, and you put those savings in a
tax-deferred account earning 9% for 30 years. What
would be your savings over that time period? A)
Don't know - I did not read the example above
[select A]
B) $131,734
[select B]
C) $175,645
[select
C]
Sidebar:
here you can check your
actual insurance savings > > > |
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