Yesterday, I got back from a business trip for my employer.

While most of the time I was gone, my mind was on business events during the day, and mingling socially with peers during the evening, I did have time to realize how much I missed my family.  As I would go home after the nights of drinking at dinner and bars, I would think how much I miss my family, and especially my kids.  Each night before I would go out, I would call home to tell my kids goodnight.  During those calls, my son and daughter would tell me how much they miss me and wish I was home.  My 7-year-old girl, doesn’t remember when I use to travel when she was a baby, so it was very hard on her.  She kept telling me that she want to come home early, and that she really missed me. My son who is a bit older understood that I couldn’t come home early, but after I did get home, he told me he had problems sleeping the first few nights after I left and that he was glad I was home again.

While I worried about what was going on at home, and I missed my family very much, one thing that I didn’t worry about was their financial well-being if something bad happened to me during the flight or whatever.  The financially comforting fact is that they would have well over 1 million dollars if I were to die, and they would most likely receive Social Security benefits on top of that.

You might be thinking Social Security benefits? and why?  Well, it turns out that if you kids are under a certain age, Social Security will pay out a monthly amount until the kids are 18.  Since I have 2 kids and a wife, the payment from Social Security would be at least $3,500 a month.  This amount is almost as much as we currently spend monthly!

After you factor in the life insurance survivor benefits that they would receive, it would put my family at a very comfortable level.  And then there is my 401k that would be tapped too.  After factoring in the 401k, I feel comfortable enough about the finances that I don’t have to worry about my family… they will have enough money to do as they please.

Knowing that you are missed is great, but knowing your family would be provided for if somehow you were to die is priceless.

I’m glad to be home,

MR