So, some background. I'm 33 and my wife is 34. We have a 5 year old daughter too. My wife suffers from mental illness. I bring in about 75-80k, she brings in about 20k. We have a 172k balance on our mortgage.
I trust my wife to stick to a budget, but I don't think she would do well being a sole breadwinner when I die. I currently have 1mil in term that I pay $28 a month for. I can increase it to 3mil at a cost of $90 a month.
My thoughts are having her just invest it conservatively making 4% a year after paying off the house. That would give her about 120k a year without touching principle.
This would give me some peace of mind, but is it overkill?
Submitted June 13, 2018 at 06:17PM by skeach101 https://ift.tt/2HLRkqS
