Welcome to this special episode of the Happiness in Retirement podcast! Today we’re diving into a topic that we haven’t explored in depth before on the podcast: investing. While we often focus on lifestyle tips and financial planning strategies, I believe it’s crucial to discuss our investment philosophies at Del-Sette Capital Management, especially as they relate to achieving a fulfilling retirement.

In this episode, I share our core investment principles, emphasizing that investing is not merely a spectator sport. It’s an integral part of a comprehensive financial plan, and as fiduciaries, we are committed to acting in your best interest.

Key Takeaways:

1. Invest in Yourself: The greatest investment you can make is in your own health, education, and personal development. Continuous improvement is essential for long-term success.
2. Adopt an Optimistic Mindset: In a world often filled with negativity, maintaining an optimistic outlook can lead to better life satisfaction and investment decisions. I discuss the importance of viewing market declines as opportunities rather than threats.
3. Limit Portfolio Monitoring: Frequent checking of your investments can lead to emotional decision-making and poor outcomes. I highlight a study by Vanguard showing that those who check their portfolios less often tend to earn higher returns.
4. Separate Money from Emotion: Mixing emotions with investing can lead to biases that negatively impact performance. I outline common biases such as loss aversion and overconfidence, which can cloud judgment.
5. Be an Owner, Not a Loaner: I encourage listeners to invest in common stocks rather than bonds, especially for younger investors. Owning a piece of great companies can lead to better long-term growth.
6. Save and Invest for Growth: For those in the accumulation phase, I recommend saving at least 15-20% of your income and focusing on growth-oriented investments.
7. Invest for Dividends in Retirement: As you transition into retirement, I stress the importance of investing in dividend-paying stocks, which can provide a potentially reliable income stream.
8. Buy Time with Your Money: Finally, I emphasize that money should be viewed as a means to enjoy life and buy time for the things that matter most.

Throughout the episode, I remind listeners that while we cannot predict the future, we believe that adopting these philosophies can significantly enhance your chances of building a secure and enjoyable retirement.

If you find yourself uncertain about your investment strategy or alignment with your goals, I encourage you to reach out for a conversation. At Del-Sette Capital Management, we are here to help you design a portfolio and retirement income strategy that brings clarity and confidence.

Thank you for joining me today! If you found this episode helpful, please subscribe, leave a review, and share it with someone who is planning for their future. Until next time, stay focused, stay disciplined, and invest with purpose and optimism!

In this episode of the Happiness in Retirement podcast, I delve into the concept of "time affluence" versus "time poverty." We explore how the quality of our lives in retirement is not solely determined by financial wealth but also by how we perceive and manage our time.

I share a thought-provoking parable about a Mexican fisherman and an American investment banker, illustrating the contrast between living a fulfilling life and chasing after wealth at the expense of time. The discussion highlights that many people, even in wealthy countries, experience time poverty, which can lead to decreased happiness and well-being.

We discuss the importance of prioritizing time affluence—feeling like you have enough time to engage in meaningful activities—over merely accumulating wealth. I encourage listeners to reflect on their values, audit their calendars, and focus on activities that bring joy and fulfillment.

Throughout the episode, I provide practical strategies for reclaiming time, such as delegating tasks, scheduling important activities first, and seeking novelty in life. I emphasize that true wealth is measured in time well spent, and I invite listeners to be intentional about how they use their hours and days.

Join me as we redefine retirement planning to focus on cultivating a rich and fulfilling life, where time is our most valuable asset. Thank you for tuning in, and remember to share this episode with friends who are planning for their future!

In this episode of the Happiness in Retirement podcast, I delve into the critical topic of life insurance, specifically focusing on the differences between term insurance and whole life insurance. Building on our previous discussion about the four risks to retirement, I emphasize the importance of having adequate life insurance to protect your family from the financial impact of dying too soon.

I explain the concept of economic life value, which highlights that your ability to earn income is your most significant asset, especially when you're young. This understanding helps determine the appropriate amount of life insurance coverage needed. I advocate for everyone to consider economic life value insurance, despite the common barriers of cost and awareness.

We explore term insurance, which provides coverage for a specified period and is generally more affordable, making it suitable for young families. However, I caution that most term policies do not pay out, as they are often not in force when needed. On the other hand, whole life insurance offers lifetime coverage, builds cash value, and guarantees a death benefit, but comes with higher premiums.

I discuss the pros and cons of both types of insurance, emphasizing that the choice between them should align with individual financial situations and goals. For those who may have a permanent insurance need in the future, I recommend purchasing convertible term insurance that can transition into whole life insurance without the need for additional health assessments.

Ultimately, I stress the importance of having economic life value insurance and encourage listeners to consider their unique needs when choosing between term and whole life insurance. I invite everyone to reach out for more information and resources on insurance and retirement planning, and I hope you find this episode insightful as you navigate your financial future.

Episode Synopsis: Understanding the Four Core Financial Risks in Retirement

Welcome back to the Happiness in Retirement podcast! I’m your host, Bill Del-Sette, founder of Del-Sette Capital Management. After a refreshing summer hiatus, we’re excited to dive back into the essential topics that can help you secure a fulfilling retirement. In this episode, we tackle a subject that often gets overlooked: the four core financial risks that everyone should be aware of as they plan for retirement.

As we transition into the final weeks of summer, I reflect on the fleeting nature of time and the importance of being prepared for the unexpected. Many people focus solely on growing their wealth through investments, but it’s crucial to consider the risks that could derail your financial plans. At Del-Sette Capital Management, we prioritize asset protection planning before discussing investments, and today, we’ll explore how to safeguard yourself and your loved ones from these risks.

The Four Core Financial Risks

1. Dying Too Soon: We begin with the sobering reality of premature death and its financial implications for families. I emphasize the importance of life insurance as a tool to provide instant liquidity and ensure that your family can maintain their standard of living. We discuss how to determine the right amount of life insurance needed to cover future income streams and the necessity of having a solid estate plan in place.
2. Living Too Long: Next, we flip the narrative to the risk of outliving your savings. While living a long life is generally seen as a positive, it can lead to significant financial challenges, especially concerning healthcare costs and long-term care. I share strategies for retirement income planning, including the guardrail approach, which helps manage withdrawals based on market performance. We also touch on the importance of investing in dividend-paying stocks to combat inflation and maintain purchasing power.
3. Becoming Disabled: The conversation then shifts to the often-ignored risk of disability. I highlight the statistical likelihood of becoming disabled compared to dying prematurely, stressing the need for both short- and long-term disability insurance. We discuss the importance of having a continuity plan if you’re self-employed and the financial strain that can arise from caregiving responsibilities.
4. Wealth Eroding Factors: Finally, we address the silent killers of wealth, including taxes, inflation, healthcare costs, and market volatility. I explain how these factors can gradually diminish your wealth over time and the importance of proactive financial planning to mitigate their effects. We discuss strategies for tax-efficient planning, smart withdrawal strategies, and the need for ongoing financial guidance to adapt to changing circumstances.

Conclusion

In closing, I reiterate that financial planning is not just about chasing returns; it’s about building a resilient plan that can withstand life’s uncertainties. The ultimate goal is to ensure that your loved ones are financially secure, regardless of what life throws your way. I encourage listeners to reflect on their life plans and take action on the things that matter most to them.

Thank you for joining me in this episode of the Happiness in Retirement podcast. If you found this discussion valuable, please share it with a friend, leave a review, and subscribe for more insights. Remember, it’s not just about having wealth; it’s about protecting it so you can enjoy the life you’ve worked so hard for. Until next time, let’s make the road to retirement an adventure, not just a survival strategy!

In this episode of the Happiness in Retirement podcast, I delve into the profound question of what constitutes a good life, particularly in the context of retirement. Let's explore whether happiness is the ultimate goal, or if there are deeper elements that contribute to a fulfilling life.

In this episode of the Happiness in Retirement podcast, I, Bill Del Sette, delve into two fascinating concepts that can significantly impact your retirement experience: the U-bend of happiness and the retirement income smile.

We begin by exploring the U-bend of happiness, a pattern observed in life satisfaction that shows people tend to be happiest in their youth and later years, with a dip in happiness during midlife, typically in the 40s and early 50s. This phenomenon is backed by extensive research, revealing that many individuals feel unfulfilled during this period due to various pressures and expectations. However, the good news is that happiness tends to rise again as people age, often due to a greater appreciation for relationships and life’s simple pleasures.

Next, we discuss the retirement income smile, a concept that challenges the traditional view of flat retirement spending. Instead of a constant spending level, retirees often experience a spending curve: higher expenses in the early years (the "go-go" years), a decrease during the "slow-go" years, and an increase again in the "no-go" years, primarily due to healthcare costs. Understanding this pattern is crucial for effective retirement planning, as it allows individuals to allocate their resources wisely and enjoy their early retirement without financial strain later on.

I encourage listeners to segment their retirement budgets by phase, consider their health and longevity, and consult with a financial planner to tailor a strategy that aligns with their unique retirement journey. Remember, retirement is not a flat road; it’s a journey filled with peaks and valleys, and with the right planning, you can make the most of your golden years.

Thank you for tuning in, and if you found this episode helpful, please share it with friends and subscribe for more insights on creating a fulfilling retirement.

In this episode of the Happiness in Retirement podcast, I delve into the multifaceted topic of retirement, sparked by the recent announcement of Warren Buffett's retirement at the age of 94. I reflect on the reasons why people choose to retire or continue working, drawing from my 30 years of experience as a retirement planner.

We begin by exploring the historical context of retirement, tracing its origins back to agrarian societies where the concept was virtually nonexistent. I discuss how the introduction of pensions by figures like Otto von Bismarck and the establishment of the Social Security system by Franklin D. Roosevelt transformed retirement into a more common practice. However, I highlight how the landscape has changed dramatically in recent years, with individuals now bearing more responsibility for their financial futures and often retiring later, with the average retirement age now at 62.

I share insights from recent surveys indicating that a significant percentage of retirees—56%—retired earlier than planned, often due to health issues or job dissatisfaction. I reference research by Mo Wang from the University of Florida, which reveals that only 5% of retirees experience a significant increase in happiness upon retiring, while 20-25% may actually see a decrease in well-being, particularly if they leave a job that provided them with meaning and identity.

The episode also touches on the social dynamics of retirement, including the phenomenon of "gray divorce," where couples face challenges in their relationships after spending more time together post-retirement. I emphasize the importance of maintaining a strong social life and finding new avenues for meaning, whether through hobbies, volunteering, or even starting a new business.

I discuss the positive impact of mindset on aging, referencing the work of researchers like Ellen Langer, who found that a positive outlook can significantly influence health and longevity. I encourage listeners to consider their own goals and aspirations, regardless of age, and to view retirement not as an end but as an opportunity for a second act filled with purpose.

Throughout the episode, I advocate for proactive planning and introspection, urging listeners to think about what brings them joy and fulfillment. I conclude by inviting everyone to embrace the idea of a work-optional lifestyle, where the choice to work is driven by passion rather than necessity.

Join me as we explore these themes and more, aiming to empower you to create a retirement that is not only financially secure but also rich in happiness and meaning. Don't forget to subscribe and visit our website for more resources!

In this episode of the Happiness in Retirement podcast, I delve into the critical mistakes that individuals often make when transitioning from the growth or accumulation phase of their financial lives to the enjoyment or distribution phase of retirement. As we approach the magical age of financial independence, it’s essential to shift our mindset and strategies regarding investments, and I highlight the common pitfalls that can jeopardize a secure retirement.

The first mistake I discuss is the tendency to become overly conservative with investments. Many retirees believe they should drastically reduce their exposure to stocks and increase their fixed income holdings. However, this approach can lead to insufficient returns that fail to keep pace with inflation and taxes, ultimately threatening purchasing power. I emphasize the importance of maintaining a balanced portfolio, suggesting that retirees should consider keeping around 80% of their investments in dividend-paying stocks to ensure their money grows adequately over time.

Next, I address the critical need for a well-defined income withdrawal strategy. Many retirees withdraw funds from their portfolios without a clear plan, which can lead to financial strain. I explain the importance of determining where to pull money from—whether it be stocks, bonds, or cash—and from which type of account (taxable, tax-deferred, or tax-free). A strategic approach can minimize tax liabilities and ensure a more sustainable income stream.

I also cover the mistake of drawing too much or too little from retirement savings. In a bull market, it’s easy to become overconfident and withdraw more than is sustainable. Conversely, some retirees may underutilize their funds, leading to an unspent nest egg at the end of their lives. I introduce the guardrail strategy, which allows retirees to adjust their withdrawals based on market conditions, ensuring they neither overspend nor underspend.

Finally, I stress the importance of focusing on income generation rather than the overall value of the portfolio. In retirement, the goal shifts from growing wealth to generating a reliable income stream. I encourage listeners to prioritize dividend income, as it provides a buffer against market volatility and inflation.

Throughout the episode, I provide actionable insights and strategies to help retirees navigate these common mistakes. I invite listeners to reach out with any questions or for personalized advice, emphasizing that a fulfilling retirement is within reach with the right planning and mindset.

Join me as we explore these essential topics to ensure your retirement years are not only secure but also enjoyable.

In this episode of the Happiness in Retirement podcast, I, delve into the crucial relationship between your money mindset and your overall life context. We explore how your core beliefs and attitudes about money significantly influence your financial decisions and success. Drawing on concepts from Werner Erhard and Stephen Covey, I emphasize the importance of having an empowering context for your life, which can help you maintain a positive money mindset, even in challenging circumstances.

I introduce the Stockdale Paradox, highlighting Admiral Jim Stockdale's experience as a POW, where he maintained faith in a positive outcome while confronting harsh realities. This balance is essential for developing resilience and a proactive approach to financial planning.

We also discuss the happiness set point theory, which suggests that while 50% of our happiness is genetically determined, 40% can be influenced by intentional activities. This means that by engaging in positive habits and focusing on input goals—actions you can control—you can significantly enhance your financial and personal well-being.

Throughout the episode, I encourage listeners to create a personal mission statement and set input goals that align with their values and aspirations. By prioritizing these goals and maintaining an empowering context, you can navigate life's challenges and work towards a fulfilling retirement.

As we wrap up, I remind you that money should serve as a tool to enhance your life, not control it. I hope you find these insights valuable as you plan for a happy, healthy, and financially secure retirement. Don't forget to subscribe and share this episode with others who are on their retirement journey!

In this episode of the Happiness in Retirement podcast, I delve into the crucial topic of determining a safe withdrawal rate from your retirement portfolio. We explore the complexities of retirement planning in the real world, where factors like inflation, taxes, market volatility, and longevity risk come into play.

I begin by painting a hypothetical scenario where everything is perfect—no inflation, no taxes, and guaranteed returns—before transitioning to the realities we face. We discuss the concept of sequence of return risk and how it can significantly impact your retirement savings.

I introduce four different strategies for calculating a safe withdrawal rate:

1. The 4% Rule: Based on the Trinity Study, this traditional method suggests withdrawing 4% of your initial portfolio value annually, adjusted for inflation. While it offers a safety net, it may not allow for optimal spending throughout retirement.
2. Variable Percentage Withdrawal (VPW): This method allows you to withdraw a percentage of your portfolio's current value each year, ensuring you never deplete your savings completely. However, it may lead to leaving money on the table if your portfolio grows significantly.
3. Bucket Strategy: This approach divides your assets into different categories—cash for short-term needs, bonds for medium-term, and stocks for long-term growth. It helps protect against market swings but may not maximize your spending potential.
4. Guardrail Strategy: I consider this the gold standard for retirement income planning. It dynamically adjusts your withdrawals based on your portfolio's performance, allowing for increased spending during good years and scaling back during downturns.

Throughout the episode, I emphasize the importance of enjoying your retirement funds and not leaving too much money unspent. I also touch on the benefits of combining the guardrail strategy with a dividend income portfolio for added stability.

If you have questions about any of these strategies or want to learn more, feel free to reach out to me at billathappinessretirement.com. Don't forget to subscribe and share this episode with anyone planning for their future. Here's to a happy, healthy, and financially secure retirement!

Episode Synopsis: Seamless Wealth Succession

In this episode of the Happiness in Retirement Program podcast, we delve into the critical topic of estate planning and asset protection, wrapping up a series of discussions we've had over the past few weeks. We begin by highlighting the importance of having a solid estate plan, using the example of the late musician Prince, who famously died without a will. This lack of planning can lead to the government deciding how your assets are distributed, which may not align with your wishes.

We explore the staggering statistic that 72% of Americans do not have a will, emphasizing the need for everyone to take proactive steps in their estate planning. With trillions of dollars expected to be transferred between generations in the coming years, we discuss the potential pitfalls of poor planning, including taxes, family disputes, and the risk of squandering wealth.

Throughout the episode, I stress the importance of planning for both death and incapacity. I share insights on essential documents such as wills, powers of attorney, and healthcare proxies, using the case of Terri Schiavo to illustrate the dire consequences of not having these documents in place.

We also discuss the concept of "psychic income," which refers to the joy derived from gifting wealth while you are still alive, rather than waiting until after your death. I advocate for a strategy that allows you to enjoy your wealth and create meaningful experiences for your loved ones.

As we navigate the complexities of wealth transfer, I provide actionable strategies to ensure a seamless transition of assets. This includes having open family discussions about financial planning, creating a family mission statement, and involving financial professionals in the planning process.

We touch on the importance of tax efficiency in estate planning, particularly regarding IRAs and the implications of leaving different types of assets to heirs. I encourage listeners to consider annual gifting and charitable donations as part of their wealth transfer strategy.

In closing, I urge everyone to take immediate action in reviewing or establishing their estate plans. The future is uncertain, and having a comprehensive plan in place is essential for ensuring that your wishes are honored and your loved ones are taken care of.

Thank you for joining me in this important discussion. If you found value in this episode, please share it with friends and family, and don't hesitate to reach out to us at happinessinretirement.com or del-sette.com for further assistance.

In this episode of the Happiness in Retirement podcast, I delve into the concept of "Swedish death cleaning," a mindful decluttering process that emphasizes the importance of keeping only those possessions that hold true meaning for us and our loved ones. I begin by discussing the hedonistic treadmill, where the pursuit of material possessions often leads to fleeting moments of happiness, leaving us in a cycle of constant consumption without true fulfillment.

As we explore the theme of estate and legacy planning, I share insights from Margareta Magnusson's book, "The Gentle Art of Swedish Death Cleaning," which encourages individuals to thoughtfully evaluate their belongings and consider the impact of their possessions on their families. I recount my personal experience of decluttering my own home, highlighting the emotional clarity and relief that comes from letting go of unnecessary items.

Throughout the episode, I outline the benefits of Swedish death cleaning, including reducing clutter, preventing stress for loved ones, and fostering legacy building. I emphasize that this process can be undertaken at any stage in life, not just when facing the end of life.

I provide practical steps for listeners to begin their own decluttering journey, such as starting small, reflecting on personal goals, and involving family members in the process. I also address common challenges, like emotional attachment to items and resistance from loved ones, offering strategies to overcome these hurdles.

In addition, I touch on the philosophical aspects of minimalism, stoicism, and the idea of the "hungry ghost," which all encourage us to seek happiness from within rather than through external possessions. I conclude with a humorous nod to George Carlin's skit on consumerism, reminding listeners that our homes often become mere storage for our belongings.

Ultimately, this episode serves as a call to action for listeners to embrace the Swedish death cleaning philosophy, simplify their lives, and create a more meaningful legacy for their families. I invite everyone to reflect on their possessions, consider what truly matters, and take steps toward a more intentional and fulfilling life. If you enjoyed this episode, please share it with friends and visit our website for more resources.

In this episode of the Happiness in Retirement Program, I delve into two powerful charitable giving strategies: Qualifying Charitable Donations (QCDs) and Donor Advised Funds (DAFs). We start by discussing the current tax landscape, particularly the impact of the 2017 Tax Cut and Jobs Act, which significantly increased the standard deduction and limited itemized deductions, leading to a decline in charitable giving.

I explain how QCDs allow individuals over 70 and a half to donate directly from their IRAs to charities, satisfying required minimum distributions (RMDs) without incurring taxes on the withdrawn amount. This strategy not only helps reduce taxable income but also maximizes the amount donated to charity.

Next, we explore DAFs, which offer flexibility for individuals of any age. By contributing to a DAF, you can receive an immediate tax deduction while deciding later which charities to support. This approach allows for strategic tax planning, especially in high-income years.

I also discuss how QCDs and DAFs can complement each other in a broader giving strategy, including tips on how to maximize tax benefits through bunching donations and combining Roth conversions with DAF contributions.

Throughout the episode, I emphasize the importance of consulting with financial and tax advisors to navigate these strategies effectively. I hope you find this information valuable as you consider your charitable giving options. Don't forget to subscribe and share this episode, and tune in next week for an intriguing discussion on Swedish death cleaning!

Plan Your Digital Estate Now

In an increasingly digital world, the assets we accumulate are not just physical items; they often reside in the intangible realm of the internet. From social media accounts to cryptocurrencies, these digital assets can hold significant sentimental and monetary value. However, many individuals remain unaware of the importance of planning for the distribution and management of these assets after death or incapacitation.  Continue reading for actionable steps to ensure that your digital legacy is preserved and managed according to your wishes.

Let’s start with a cautionary tale about Gerald Cotton, who passed away in 2018, leaving behind approximately $250 million in Bitcoin. The tragedy of his story lies not only in his untimely death but also in the fact that he did not share the access details to his digital fortune with anyone. This scenario highlights a critical aspect of digital estate planning: without proper planning, your loved ones may be left in the dark regarding your digital assets, much like Cotton's spouse.

Digital estate planning is a relatively new concept, reflecting the shift from tangible assets, such as real estate and physical possessions, to intangible assets that dominate our lives today. It is essential to recognize that digital assets—whether they be family photographs on social media, online businesses, or cryptocurrencies—require careful consideration and planning. 

The first step in this process is to conduct an inventory of all digital assets, including usernames, passwords, security questions, and the means through which authentication codes can be accessed. This inventory should be stored securely, either physically or through password management tools like LastPass or 1Password.  And don’t forget to update this inventory whenever you change login details such as usernames and passwords!

Once you have an inventory, the next step is to articulate your wishes for each digital asset. Do you want your Facebook account to be memorialized, or would you prefer it to be deleted? If you own an online business, who should inherit it? By clearly documenting your desires, you can prevent potential conflicts and confusion among your loved ones during a difficult time.

Another key aspect of digital estate planning is designating a digital executor and a digital agent. The digital executor, named in your will, will manage your digital assets after your death, while the digital agent, specified in your power of attorney, will handle your digital affairs if you become incapacitated. This distinction is crucial, as it allows for a seamless transition of responsibilities and ensures that someone knowledgeable about digital assets is in charge.

It's important to understand the legal framework surrounding digital assets. Many states have enacted the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA), which outlines the hierarchy of access to digital assets. This law prioritizes the tools provided by digital service providers, such as Facebook's ability to designate a legacy contact, followed by the directives in your will, and finally, the terms of service agreements. Failure to utilize these tools can result in your digital assets being managed in ways that do not align with your wishes.

Furthermore, it is essential to recognize that digital assets can be subject to taxes, just like tangible assets. For instance, an online business generating income may create tax obligations that your executor must address. Therefore, maintaining good records and clear documentation is vital for ensuring that your digital estate is managed effectively.

In conclusion, consider this a powerful reminder of the importance of planning for your digital estate now. As our lives become more intertwined with digital platforms, it is imperative to take proactive steps to safeguard your digital legacy. By inventorying your digital assets, articulating your wishes, designating a digital executor and agent, and understanding the legal landscape, you can ensure that your digital assets are managed according to your desires. Embracing digital estate planning is not merely a strategy for managing assets; it is a pathway to peace of mind for you and your loved ones. In a world where change is constant, planning your digital estate is an essential step toward securing your legacy and avoiding potential conflicts in the future.

The Go-Go years of retirement are when you are healthy, have free-time, and can enjoy the fruits of your labor.  Sooner or later, you will slow down because of health related issues.  But what if you could increase your healthy retirement years?   Tune in to find out more.

How do you choose between contributing to a traditional, tax deferred 401K   or a Roth 401K?  Are you just guessing when you choose between contributing to one or the other?  Watch this episode of the Happiness in Retirement Webcast to help you make the best choice.

Step one of the financial planning process is to create goals around what matters most to you.  Check-out this episode to learn three ways to get inspired about your future and to create targets that you will be motivated to act on in your plan.      

Their are four steps to crafting your financial plan, and if you miss any of them, it could derail your financial future.  Tune-in to learn the the four steps and why you should follow them in a certain order to maximize your chances of success. 

You probably learned about the miracle of compound interest in grade school, but they probably didn't teach you about the ever increasing, compound tax it can create.  In this episode of the Happiness in Retirement podcast, I'll illustrate and present some potential solutions.

Many people use a needs based approach to figuring out how much life insurance they need, but it leaves them woefully underinsured.  Tune-in to learn how to use replacement value and economic life value to determine the real loss experienced if you pass away too soon.