Have you ever thought about how much you are worth? I was talking to my dad the other day about what the future might hold for me and my family, and I mentioned that should the worst happen to me, then both my wife and son would have PLENTY of money to play with when i’m gone.


I hadn’t really thought about it too much, but the amount of money they would get if I died, would take me 8 years of working to produce (after tax). 8 years, plus I have to be fed, clothed, entertained etc. Realistically it would be far more like 14 years once you took all the expenses I have into the equation.

I also went ahead and arranged a living trust, which ensures that the property that I own is passed to my wife and son should I die. In basic terms, I transferred the title of this property into the trust, so that I no longer technically own it. I retain control of the property, however, because I am the trustee. This ensures that all of my assets are managed by a single trust, rather than being all over the place. I wouldn’t want legalities to get in the way of my wife and son being taken care of should the unforeseen occur in my life.

It’s a little bit depressing if I’m going to be honest. No wonder so many people turn on their partners in order to cash in. It’s almost like winning the lottery, but its a lot more likely.

Now to my dear wife – please don’t murder me, i’ll be good  /jokes    -Seriously though, I want to live!

I guess the good thing about the payout being so large is that my wife and son would be able to easily pay off our new mortgage, and also live comfortably for quite a while without the need for her to go back to work. If you add in our online business activities, she may never need to go back to work, so in that regard I am really happy that we have the level of cover that we do.

On the flip side, I am now wondering if we have enough insurance cover on my wife. Her payout is quite a bit less than mine, and it would only really cover the mortgage. I would have to be back at work within a year to continue living comfortably.

Anyway – I guess the point of this post is to just think about your life, your family and make sure that you have appropriate plans in place. It only takes 5 minutes to think about, but it can make a pretty big difference in the long run.