My wife and I are both currently 4th year med students (match coming soon!), I'll be going into EM and she IM. I've been following WCI for a year now and of course am trying to get my finances in order and go down the check list of things to do as an intern...and something I don't think I need is life insurance, for either of us.
My reasoning: 1) we will both have incomes that on an individual basis could support the kind of lifestyle we want (we aren't spenders and don't want the 10,000 sq/ft house or new Tesla roadster)
2) for many different personal reasons we don't want children. We'll have 529's for nieces/nephews but they won't depend on that if for whatever reason it is cut
We plan on getting disability insurance asap but don't feel like we need to spend the money on life insurance if we have no dependents and we would be alright without the other's income. Of course things would change later on if we accidentally get pregnant etc. and I know premiums would be higher if we picked up life insurance later on in life but does that "what if" justify getting it now?
Thanks for the help!
My reasoning: 1) we will both have incomes that on an individual basis could support the kind of lifestyle we want (we aren't spenders and don't want the 10,000 sq/ft house or new Tesla roadster)
2) for many different personal reasons we don't want children. We'll have 529's for nieces/nephews but they won't depend on that if for whatever reason it is cut
We plan on getting disability insurance asap but don't feel like we need to spend the money on life insurance if we have no dependents and we would be alright without the other's income. Of course things would change later on if we accidentally get pregnant etc. and I know premiums would be higher if we picked up life insurance later on in life but does that "what if" justify getting it now?
Thanks for the help!
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