sahm and money in the future?

Question

How does it work? like say your husband passes away at like 80 years old and you have no income or way of money? how are you supposed to survive and live? since I'm still young I'm thinking should i go and start a career now or something so ill have a way of money when that does happen or what? he just did life insurance(I think or something like that) and put our daughter as the one who will get the money if he passes away suddenly cause we didnt know what to put and now today this came to mind and I was thinking what money am i supposed to be left with?

Answer

I am a stay at home mom, but I did get a college degree and have that to fall back in heaven forbid anything should happen. My husband has a fairly substantial life insurance policy of which I am the beneficiary and we have savings. Many single moms raise their babies from day one. I’m sure if you needed to, you would find a way

Answer

If he had 401K or any other pensions that are left in your name you will get that money but other than that there’s nothing else if he doesn’t have any savings. Good question. Definitely something for you to think of cuz it happens and you don’t wanna be left with nothing. Good luck

Answer

His life insurance policy should have you as the beneficiary. You would be the one taking care of the child if anything were to happen.

Answer

social security and savings really. anything that he leaves in his will to you

Answer

You can choose to collect his social security instead of yours if he passes when you’re older. And you should be named as a beneficiary on any retirement plan 401k etc

Answer

My mom was a stay at home mom. Basically when my dad dies (if he dies before her), she’ll have social security, his 401k, their savings and his life insurance policies. They’ve planned ahead. She also has some life insurance that I’ll be getting when she dies so I don’t have anything to worry about. Plus I have my own saving and I’m currently working so that if and when I do have kids I can be a stay at home mom. It’s a good thing to think about now and start planning and saving, so that when the time comes you’re not caught off guard.

Answer

I was raised to be independent because there are no guarantees in life. I have a college degree and a lot of work experience, and I'm trying to build savings so if I am ever in a situation like that I have something to fall back on 👍🏼.

Answer

Life insurance is important!

sahm and money in the future?

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