I am a recent grad and I work for an engineering company and life insurance is one of the benefits they provide. They give me options of 1 times my annual salary up to 6 times my annual salary and idk what to do. Currently I am looking at 3x my annual salary which would come out to 11 dollars a month.
Basically the formula is as goes. Let's say I opt 3 times life insurance. I take 3 x 90 x .015(which is multiplier based on age). I then get 5 dollars which is what I pay each month.
Background and more info:
22 y o male No health issues No spouse or kids
Still living at home with parents and can live on their healthcare so I can wave it.
I make almost 90k a year and I vest 10% in the 401k plan the company offers. Company matches first 8%. Should I do only what they match or should I put a little more into the 401k?
Any input on what to do for life insurance will be much appreciated as well as the 401k. Thanks!
Submitted June 14, 2017 at 08:47AM by cleverdragon1 http://ift.tt/2s0CUPf
