When does buying insurance cross the line from being smart to throwing away your hard earned cash? There are the regular choices of course: car, home, life, medical, and dental insurance. But what about all the other types of coverage out there? Between rental insurance, phone, electronics, various types of worker’s insurance, travel insurance (and more!), a person could easily break the budget by trying to keep 100% of their life covered. Today we’ll make sure you know what type of insurance is available to you, which kinds you should buy… and of course, the types of coverage that you should probably run away from.
Plus, we’ll share a story of an investor who discovered a huge negative balance on his Robinhood account. We’ll share the series of investing choices that lead to a tragic outcome, and the problems behind investing as sport by people who don’t know many of the basics.
Debt can be extremely stressful, but it is not worth your life. Help is available. You can speak with a counselor today at the National Suicide Prevention Lifeline – (1-800-273-8255) or find more help at SuicidePreventionLifeline.org.
We’ll also carve out some time in the middle of the show for Doug’s family-themed trivia.
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Today’s Show Line-Up:
- Rookie trader kills himself after seeing a negative balance of more than $700,000 in his Robinhood account (MarketWatch)
- Looking for the Tik-Tok video we mentioned during the show? You can watch it HERE from Peter Huminski’s Twitter.
Our Featured Discussion Piece: How To Choose The Right Insurance
While we enjoy our feature-length discussion on insurance, we still need to give Doug some time for his trivia. Here’s his question:
- Which state in the US has the most kids per family, and which state has the least?
Join Us Friday
Having trouble getting yourself to save money? On Friday we’ll cover all the different ways money savers trick themselves into stacking Benjamins. Plus, remember those hairdressers who had Coronavirus? We’ll be joined by the Evil HR Lady, Suzanne Lucas, who’ll let us know what impact they could have on you job.