The Right Amount Of Life Insurance | Financial Samurai

If you haven?t done so already, calculate your net worth to assess how you did this past year.? Hopefully, you?ve grown your net worth, despite the stagnant stock markets through aggressive savings, retirement company matches, a diversified investment portfolio, rental property cash-flow, and an increase in your start-up?s value.

Wait, all you have is your savings?? Then you better start diversifying your income stream so you?re always moving forward, no matter how rough the economy.? Once you?ve calculated your net worth, make sure your life insurance levels equals this amount, especially if you have dependents, or a spouse who makes much less than you.? If you die, and want your loved ones to maintain a similar standard of living, consider matching your life insurance amount with your family?s net worth amount.

Some might not agree with this life insurance guideline and wonder whether it would be better to have insurance that equals a family?s debt level only.? Having enough life insurance to pay off all of your family?s debt is better than no life insurance at all.

If you?re single and have no dependents, do you really need life insurance?? Probably not.? If you die with a million bucks in debt, you?re living large!

Consider the Robinson family in San Francisco with two children ages 8 & 7:

* Wife (35) Income: $200,000

* Husband (34) Income: $60,000

* Savings Rate After Tax: 30%

* House Value: $900,000

* 401K/IRA: $500,000

* Cash: $100,000

* Personal Stock Portfolio: $100,000

Total Assets: $1,600,000 + $45,000 a year in savings each year they work.

* Recurring Private Education Cost: $25,000

* Mortgage: $500,000

* Consumer Debt: $20,000.

Total Liabilities: $420,000

Net Worth: $1,090,000 ? $30,000 a year for the next 15 years as their two kids finish high school and go to college.

Take a moment to consider the Robinson?s family situation.? How much life insurance should Mr. Robinson take out, and how much should Mrs. Robinson take out?

Mrs. Robinson?s Situation

Mrs. Robinson is clearly the breadwinner of the family.? If her income disappears, it?s up to Mr. Robinson to take on the $420,000 debt level, which is 7X his annual income.? Furthermore, after taxes, Mr. Robinson will only have about $42,000 left over, barely enough to cover the $30,000 a year in tuition!? In this scenario, is a $420,000 life insurance policy enough?? Probably not, since even after all debt is paid, Mr. Robinson would have to spend the majority of his salary on his kids tuition, buffered by the $100,000 in cash savings he can use penalty free.

With a $1,100,000 life insurance policy, Mr. Robinson can breathe much easier as he can use $420,000 to pay off all debt and have $670,000 left to pay for his kids education for 20 years and maintain his living situation without further disrupting his family.

Mr. Robinson?s Situation

If Mr. Robinson dies, the financial hit is not as great given his $60,000 gross income.? Mrs. Robinson?s $200,000 gross income can pay the $30,000 a year in tuition, an estimated $30,000 a year in mortgage costs at a 4% interest rate level, $10,000 a year in property tax, and $30,000 a year in food, clothing, and travel with $20,000 left over.

$20,000 left over for savings is still good, but will there really be $20,000 left over if Mr. Robinson is no longer around?? Unlikely, given Mr. Robinson had very flexible hours and was able to care for the kids while she worked late and sometimes on the weekends.? Mrs. Robinson needs help as a single mother, and the $20,000 goes towards paying for help.

Given Mrs. Robinson makes $200,000, she should have no problem paying the extra $50-$100/month for a $1.1 million life insurance policy vs. a $420,000 life insurance policy.

CONCLUSION

When you lose a spouse, the last thing you want to do is have more disruption due to your finances.? Are you really going to pull your kids out of school and away from their friends after their mother or father just died?? No.? The surviving spouse will be in mourning, and needs that life insurance policy as insurance that he or she can have as much time possible to figure things out.

If necessary absolutely necessary, the surviving Robinson parent can sell all assets to cover all liabilities and net roughly $1 million in cash after fees.? However, the family still needs a place to stay and go to school.

It?s foolish to be underinsured to save a nominal amount of money every month.? $420,000 worth of life insurance is better than zero in the Robinson?s case.? However, it?s best to simply match the life insurance amount for each spouse to the estimated net worth of the entire family.

To Review:
* At a minimum, take out enough life insurance to cover all liabilities.
* Consider taking out enough life insurance to match your family?s estimated net worth.
* If you?re estimated net worth is small, consider the cost of getting life insurance equal to 5X-10X the highest income earner.
* Check your company policy. Many employers will offer anywhere from a 1-5X base salary life insurance multiple. If you want more, you just have to elect and pay.
* Protect your assets by taking out an umbrella policy, which covers liability beyond your car and house insurance policies.

Readers, how do you calculate how much life insurance to take?? Do you have life insurance?? If not, why?? How much life insurance do you have?

Regards,

Sam

Photo: Empty inner-tube, Kahala. SD.

Source: http://www.financialsamurai.com/2012/01/18/the-right-amount-of-life-insurance/

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Official MIUI release now available for the Samsung Epic Touch 4G

Been looking for a new ROM for your Samsung Epic Touch 4G on Sprint, well how about a little bit of MIUI love for you? It appears as though an official build has been released for the device, and it is now available for your downloading pleasure. For those unfamiliar, MIUI is a custom ROM that is quite similar in many ways to iOS and provides a rather unique Android experience. Rooted and ready to flash? If so hit the link below for download links and full information about the ROM.

Source: XDA

Source: http://feedproxy.google.com/~r/androidcentral/~3/N31EKcfOWnA/story01.htm

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Campaign officials: Huntsman to quit GOP race (AP)

CHARLESTON, S.C. ? Jon Huntsman staked his presidential campaign on New Hampshire and his bid to become a legitimate competitor on distinguishing himself from front-runner Mitt Romney. But less than a week after a disappointing third-place finish in the GOP primary there, Huntsman decided to quit the race and back Romney.

Huntsman will endorse Romney, officials said Sunday, because he thinks Romney is the best candidate to beat President Barack Obama in November. Campaign manager Matt David said Huntsman will announce his withdrawal at an event in Myrtle Beach, S.C.

Huntsman's resume had suggested he could be a major contender for the Republican presidential nomination: businessman, diplomat, governor, veteran of four presidential administrations, an expert on China and foreign trade. But the former ambassador to China in the Obama administration found a poor reception for his brand of moderate civility that he had hoped would draw support from independents, as well as party moderates.

Huntsman was almost invisible in a race often dominated by Romney, a fellow Mormon. One reason was timing. For months, Romney and other declared or expected-to-declare candidates drew media attention and wooed voters in early primary states.

Huntsman, however, was half a world away, serving as ambassador to China until he resigned in late April. Nearly two more months would pass before his kickoff speech on June 22 in the shadow of the Statue of Liberty. The former Utah governor had already acknowledged that expectations for him in South Carolina's primary this week will be "very low." Word of the Huntsman withdrawal came on the same day that The State, South Carolina's largest newspaper, endorsed him for president.

Although Huntsman was viewed as having little chance of finishing strong in South Carolina, his endorsement of Romney could give the former Massachusetts governor, who leads in state polls, even more of the look of inevitability.

The move comes as pressure has been increasing on Texas Gov. Rick Perry to leave the race to allow South Carolina's influential social conservatives to unify behind either former Pennsylvania Sen. Rick Santorum or former House Speaker Newt Gingrich.

Santorum worked over the weekend at consolidating conservatives, trying to parlay into support in South Carolina the decision Saturday by an influential group of national Christian conservatives to back him.

"I think it's important that we eventually consolidate this race," Santorum told reporters Monday at a news conference in Columbia. He stopped short of urging Perry, who has shown little traction in South Carolina, to quit the race.

"That's up to the candidates themselves to decide," Santorum said.

To stand out in a crowded field, Huntsman positioned himself as a tax-cutting, budget-balancing chief executive and former business executive who could rise above partisan politics. That would prove to be a hard sell to the conservatives dominating the early voting contests, especially in an election cycle marked by bitter divisions between Republicans and Democrats and a boiling antipathy for Obama.

Huntsman also tried to offer a different tenor, promising a campaign marked by civility.

"I don't think you need to run down somebody's reputation in order to run for the office of president," he said.

While Huntsman was often critical of his former boss ? he joined those saying Obama had failed as a leader ? and occasionally jabbed at Romney, he spent more of his time in debates pushing his own views for improving the economy rather than thumping the president or his opponents.

In light of his work in the Obama administration, Republicans seemed wary of Huntsman. While he cast his appointment in August 2009 as U.S. ambassador to China as answering the call to serve his country, his critics grumbled that he had in fact been working on behalf of the opposition.

Huntsman was conservative in matters of taxes and the reach of the federal government, but he was out of step with most conservatives in his support of civil unions for gay couples. On matters of science, he poked fun at his skeptical rivals in a pre-debate tweet: "To be clear. I believe in evolution and trust scientists on global warming. Call me crazy."

In the end, Huntsman didn't seem to register, crazy or otherwise, with Republicans looking for an alternative to Romney or a winner against Obama. He was routinely at the bottom of national polls, barely registering at 1 or 2 percent, a reflection of the faint impression he made in the GOP debates.

His campaign put all its emphasis on the New Hampshire primary, hoping that face-to-face politicking in the first-in-the-nation primary would pay off with a strong second-place finish or a surprise victory in Romney's backyard. While other GOP candidates spent December in Iowa, the Huntsman campaign ignored its leadoff caucuses, where social conservatives were all but certain to give him short shrift.

Central to Huntsman's New Hampshire strategy was its open Republican primary, which allowed independents to vote along with declared party members. He gambled that he could attract moderate voters, Republicans and independents alike, by presenting himself as a successful conservative leader who wasn't interested in engaging in a culture war.

He called his third-place showing a "ticket to ride" to South Carolina, but his distant finish behind Romney and runner-up Ron Paul was widely regarded as lackluster.

Huntsman, 51, was born in Redwood City, Calif., and raised in Utah. His father, an industrialist and at one time a Nixon administration official, founded Huntsman Chemical Corp. in 1982. Now the Huntsman Corp., it reported revenues of more than $9 billion in 2010.

The younger Huntsman drifted a bit as a young man. He attended high school in Salt Lake City but dropped out to play keyboards in a band. He later attended the University of Utah, then dropped out to serve two years as a Mormon missionary in Taiwan, where he learned to speak Mandarin.

He returned to the University of Utah in 1981 and later worked as an intern for Sen. Orrin Hatch, R-Utah, and as a staff assistant to President Ronald Reagan. He left college to join the Huntsman Corp. in 1983, the same year he married Mary Kaye Cooper. He studied international politics at the University of Pennsylvania, earning a bachelor's degree in 1987.

While he served in the administrations of both George H.W. Bush ? he was ambassador to Singapore in 1992 ? and George W. Bush, Huntsman first won elective office in 2004 as Utah's governor. He was re-elected by a 3-1 margin in 2008, then resigned the following year to be America's top diplomat in China.

Huntsman and his wife have seven children, including one adopted from India and one adopted from China.

___

Elliott reported from Washington. Associated Press writer Thomas Beaumont in Myrtle Beach, S.C., contributed to this report.

Source: http://us.rd.yahoo.com/dailynews/rss/politics/*http%3A//news.yahoo.com/s/ap/20120116/ap_on_el_pr/us_romney_huntsman

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NY pulls off one giant upset against Green Bay

Manning throws 3 TDs as Giants stun NFC's top seed with 37-20 win

Darron Cummings / AP

Giants quarterback Eli Manning celebrates a touchdown in front of Packers linebacker Clay Matthews. The Giants won Sunday's game, 37-20.

By CHRIS JENKINS

updated 9:22 p.m. ET Jan. 15, 2012

GREEN BAY, Wis. - With their own star quarterback and a dominating defense, the New York Giants exposed the Green Bay Packers for what they now are - former Super Bowl champions.

The Packers dropped passes, fumbled the ball and simply couldn't stop Eli Manning and his receivers in the Giants' shocking 37-20 divisional playoff victory Sunday. To the Giants' delight, a Green Bay team that had a real shot at an undefeated season less than a month ago is heading home.

And that the win came at Lambeau Field, well, that was just as sweet. The site has become a familiar launching pad for the New Yorkers. After beating the Packers (15-2) at home for the second time in four years, they only hope this trip ends the same way - in the NFL title game.

The Giants will play the 49ers in San Francisco for the NFC championship next Sunday.

"I think we're a dangerous team," Giants coach Tom Coughlin said. "I like where we are and how we're playing."

The Giants (11-7) have been on a roll ever since beating the rival Jets on Dec. 24, beating the Dallas Cowboys to get in the playoffs and then blowing out Atlanta in the wild card round last week.

They took down the Packers on Sunday, as Manning threw for 330 yards and three touchdowns.

The Giants are 3-4 against the 49ers in the playoffs, including their memorable collapse in a wild card game at San Francisco on Jan. 5, 2003. New York led 38-14 in the third quarter but fell apart and lost 39-38.

That probably won't be much of a worry for this year's Giants, who were oozing confidence even before they beat the Packers.

"This team knows how to win on the road," defensive end Justin Tuck said. "It seems like right now it's our time."

The Giants stunned the Packers with a touchdown off a long heave from Manning to Hakeem Nicks just before halftime, then knocked them out with a late touchdown off a turnover.

Lambeau Field fell silent as the Giants swarmed the field in celebration, with a handful of New York fans chanting, "Let's go, Giants!"

"I knew we were going to beat them on Wednesday, to be honest with you," running back Brandon Jacobs said.

The win came four years after the Giants beat a Brett Favre-led Packers team in the NFC title game. It wasn't nearly as frigid this time around, and the Packers' vulnerable defense seemed to be waiting to get sliced up.

Manning found six different receivers against a porous Packers defense. But Manning did the most damage with his throws to Nicks, who caught seven passes for 165 yards and two touchdowns.

Nicks' biggest play was a 66-yard touchdown catch in the first quarter. His score at the end of the half came on a 37-yard pass into the end zone with defenders all around.

"It was a big momentum play for them, but we were not deflated as a football team," Packers coach Mike McCarthy said.

The Giants' defense also was able to defuse the big-play abilities of Aaron Rodgers and the Packers' offense.

Rodgers was 26 of 46 for 264 yards, with two touchdowns and an interception. He also was the Packers' leading rusher with 66 yards on seven carries.

The Packers fully expected to go back to the Super Bowl, but the reality hit Rodgers quickly.

"Oh, it's real," Rodgers said. "We got beat by a team that played better tonight.

"We play to win championships. You win a championship and you're kind of at the top of the mountain, and you forget kind of how bad this feeling is. We had a championship-caliber regular season and didn't play well today."

The Packers' past problems with dropped balls by their talented group of wide receivers returned at the worst time imaginable.

And while the Packers' defense has been vulnerable all season, giving up far too many yards and big plays, they've typically made up for it by forcing turnovers.

This time, the Packers were the ones giving the ball away.

Green Bay lost three fumbles, including one on a rare giveaway by Rodgers. The Giants also sacked Rodgers four times.

With the Packers trailing 20-10 at halftime but finally beginning to look like themselves on offense to start the second half, Osi Umenyiora swatted the ball away from Rodgers, and Deon Grant recovered the fumble.

"With a 10-point lead, we're going to get after you," Umenyiora said. "And that's what we did."

But the mistake didn't cost the Packers points, and Green Bay cut the lead to seven points on a 35-yard field goal by Mason Crosby late in the third quarter.

The Packers put together another drive early in the fourth quarter, but Michael Boley and Umenyiora combined to sack Rodgers on fourth-down play in Giants territory.

After carving up the Packers in the first half, the Giants' offense hit a lull in the second half. But they broke out of it to drive for a 35-yard field goal by Lawrence Tynes to take a 23-13 lead with 7:48 left to play.

Packers running back Ryan Grant then fumbled after catching a pass and the Giants recovered, taking the ball back deep into Green Bay territory.

Manning then threw a 4-yard touchdown pass to Mario Manningham and the Giants took a 30-13 lead. Rodgers rallied the Packers for a 16-yard touchdown pass to Donald Driver, cutting the lead to 30-20 with 4:46 left.

The Packers then tried on onside kick, but the Giants' Victor Cruz recovered.

Jacobs scored on a 14-yard run with 2:36 left to put the game away.

It was an emotional day for the Packers, who welcomed offensive coordinator Joe Philbin two days after the funeral service for his 21-year-old son, Michael.

Philbin had been away from the team all week after Michael Philbin's body was recovered from an icy river in Oshkosh, Wis. on Monday. A preliminary autopsy showed that he drowned.

"I think deep down, a lot of us wanted to kind of get this one for him," Rodgers said.

Notes: Giants safety Deon Grant left the game with a head injury. ... Packers running back John Kuhn left the game with a knee injury, and wide receiver Greg Jennings sustained a rib injury. ... Driver caught three passes, giving him a franchise-record 49 postseason receptions in his career. ... Packers LB Brad Jones blocked a 40-yard field goal attempt by Tynes in the second quarter.

? 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Eli Manning threw three touchdown passes and the Giants shocked the Packers 37-20 in an NFC divisional playoff game Sunday. Manning threw for 330 yards, sending the Giants to San Francisco for the NFC championship game next Sunday night.

Source: http://nbcsports.msnbc.com/id/46007749/ns/sports-nfl/

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SlingPlayer for Kindle Fire headed your way (hands-on)

The SlingPlayer for Kindle Fire was hiding amongst its siblings on the CES floor so of course we had to stop by and check it out. It fits right in the family of products, but the first version due to hit the AmazonAppstore this month for $29 will not include the guide or onscreen remote. You will of course be able to view the source's native guide and navigate via onscreen buttons, but the buttons just won't look like your source's remote. SlingMedia also confirmed for us that an additional subscription is not in the future (in case you were worried) and that an embeddable Flash player will be available soon so you can place shift your TV using any webpage you like.

Gallery: SlingPlayer for Kindle Fire headed your way (hands-on)

SlingPlayer for Kindle Fire headed your way (hands-on) originally appeared on Engadget on Thu, 12 Jan 2012 20:02:00 EDT. Please see our terms for use of feeds.

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Source: http://www.engadget.com/2012/01/12/slingplayer-for-kindle-fire-headed-your-way-hands-on/

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Telus launching Samsung Galaxy Nexus January 13th

Telus does a me too and follows Bell to market with the Samsung Galaxy Nexus. Starting tomorrow, January 13th, Telusites can grab Google's newest pure Android dev. set for a cool $99.99 on a 3-year contract, $549.99 for 2-years, $599.99 for one and $649.99 off-contract. In case you've been away from civilization for the last little while and missed what this set is all about, feel free to check the facts and figures followed by our review.

Update: The Galaxy Nexus just popped up on Telus' site for an introductory price of $99 on a 3-year deal. The sale starts today and carries on until the 26th of Jan. Happy days!

Telus launching Samsung Galaxy Nexus January 13th originally appeared on Engadget on Thu, 12 Jan 2012 23:08:00 EDT. Please see our terms for use of feeds.

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Source: http://www.engadget.com/2012/01/12/telus-launching-samsung-galaxy-nexus-january-13th/

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Kogeto unveils Dot panoramic video capture prototypes for Android, GoPro (video)

Earlier this week, Kogeto announced plans to bring its Dot panoramic video recording accessory to Android handsets. Having already launched an iPhone version of the device back in May, Kogeto has a prototype of its Android counterpart on display here at CES, along with a second prototype, for the GoPro HD Hero 2. The idea behind the device is pretty simple: just download Kogeto's app, attach the holster to your smartphone, and begin recording. The accessory will then automatically capture 360-degree panoramic video, which can then be uploaded to the web, via the company's dedicated web platform. While you're there, you can also use Kogeto's online editing tool to cut and splice your video, jumping from angle to angle with the company's intuitive user interface. The quality of the video we captured during our hands-on with an iPhone 4 version wasn't exactly top-notch, but we're told that there are notable improvements for 4S users. All told, it's definitely a cool little attachment, and one that seems rife with creative potential. The iPhone 4 version, as we mentioned earlier this year, retails for $79. The Android rendition, meanwhile, is slated to hit the market this fall, likely for a similar price. No word yet on when we can expect to see the Dot arrive for GoPro, but be sure to check out our full gallery and video, after the break.

Gallery: Kogeto Dot panoramic video capture prototypes for Android, GoPro at CES 2012

Mat Smith contributed to this report.

Continue reading Kogeto unveils Dot panoramic video capture prototypes for Android, GoPro (video)

Kogeto unveils Dot panoramic video capture prototypes for Android, GoPro (video) originally appeared on Engadget on Thu, 12 Jan 2012 17:41:00 EDT. Please see our terms for use of feeds.

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Source: http://www.engadget.com/2012/01/12/kogeto-unveils-dot-panoramic-video-capture-prototypes-for-androi/

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