Some people have questioned my wife’s choice to not return to work since she left her job in 2015, but it’s essential to understand that she’s been far from idle. Since becoming a full-time mom in 2017, she has also been heavily involved in the operational and editorial sides of our blog, Financial Samurai, which she’s been part of since 2009.
One key reason I’ve hoped she might rejoin the workforce is the financial security it could bring if something were to happen to me while our kids are still young. With inflation on the rise and economic downturns a possibility, securing another source of income feels like gathering food in the summer rather than waiting for winter.
However, with life insurance in place, there’s less pressure on her to work purely for financial reasons. We’ve secured matching 20-year term life insurance policies that provide a $750,000 death benefit each. This arrangement could financially sustain our family for years, should anything happen to me, giving my wife ample time to manage our assets wisely and even maintain Financial Samurai.
Moreover, the life insurance provides peace of mind that she won’t have to rush back into the workforce or sell off assets under pressure. She could take time to find a job that truly fulfills her, if she chooses to work again.
The realization that life insurance mitigates the need for her immediate return to work doesn’t eliminate the benefits of re-entering the workforce. It remains a good idea, especially as our kids start school full-time. Work can provide not only additional financial stability but also personal fulfillment and an excellent example for our children.
In essence, while life insurance offers significant financial security, encouraging my wife to refresh her skills and potentially return to work is about more than money—it’s about setting a positive example for our children and ensuring she has fulfilling and engaging options available to her, regardless of life’s uncertainties.
