| what to do with $20,000 from gerber insurance |
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Mr.P
Contributing Member
Cash: $ 2.30
Posts: 26
Joined: 02 Apr 2010
Location: New York
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Pay your loans first, pay for your education next. If there is anything left invest in your own house, then maybe in something else.
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Thu May 13, 2010 3:47 am |
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Zector
Full Member
Cash: $ 12.60
Posts: 61
Joined: 17 Feb 2009
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In my experience what happens when people pay off debts, within 6 months it returns. With this much cash in hand, there is a lot of good ideas you can do to ensure a solid future. Even you posting on here shows your thinking about it some.
Go to the library get the book rich dad poor dad. Have a read, this would be a great time to do something like that. Otherwise dump it into a fund and let it grow a while, and aggressively pay off your debt as you would normally with your income. Think of this like a nice extra and dont touch it.
Then in 10 or so years, get married, you will have a lot for a home down payment. Saving this much up just doesn't happen with the working people.
My first idea would be the rich dad poor dad thing. I started later in life (took a long time to save to save enough), but now it is paying off very well. But you have to be honest if its for you and do your homework.
I wouldn't dump it in a 401 yet, your tax bracket im guessing is to low yet. But dont squander this gift off io some new car that will fall apart or tv thats will be garbage in a few years or something like that.
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Mon Jun 07, 2010 12:54 am |
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Deen888
Senior Member
Cash: $ 41.60
Posts: 203
Joined: 14 Feb 2018
Location: Los Angeles
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Seems like this Gerber company is not so bad if it really pays insurance money to their clients, hope you spent all this money joyfully. I have to define with the insurance company now, probably will pick Humana, these reviews https://humana.pissedconsumer.com/review.html seem to be quite positive.
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Sun May 16, 2021 7:32 am |
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vaduvala
Senior Member
Cash: $ 130.10
Posts: 665
Joined: 27 Feb 2018
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You can borrow from the cash value, as long as premiums are paid, by taking a policy loan. Policy loans are subject to 8% interest rate and may impact cash value and death benefit. You can also surrender the policy and receive the available cash value but Insurance from Gerber Life is whole life insurance for adults between 50 and 80 years old. Approval is guaranteed, regardless of your health.
what is a telecom technician? - Fieldengineer
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Mon Oct 25, 2021 2:54 pm |
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