[SeeGeeWhy]

TWB is a nice introduction to the arena of personal financial planning. I didn't appreciate it for what it was when I first read it, but after going through life a little more I can get behind its main lessons. (I'm probably due for a re-read).

From what I remember, it doesn't go deep enough into the importance of goal setting and tracking your performance vs your plan.

FAR, FAR too many people focus on the investing part of their financial plan, only to ignore the rest (budgeting, tax planning, estate planning, retirement planning, risk planning), which is a big risk in my opinion. Running your financial life is just like running a business, and so few people treat it that way and suffer the consequences.

You really should be looking at getting insured, and drafting a will (if not a will, personal directive, and power of attorney). Passing away without a last will and testament will create nothing but headaches for your family at a time when they need them the least.

Insurance solutions are as varied as the needs of the individual. I recommend speaking with a CERTIFIED FINANCIAL PLANNER to determine your needs and become educated on the options.

I stress CFP because I attempted to learn about the insurance industry by meeting with insurance brokers. It took us three years to finally meet a broker that wasn't just a brutally agressive product salesman. We lost years of coverage (thankfully nothing happened), which means our premium rate is higher today.

Remember, life insurance is only one thing you'll insure, but its the main thing people associate with insurance. The probability of a premature death is quite low, but lots of people buy life insurance. Becoming critically ill or temporarily disabled while you're in your working years is almost a certainty and very few people cover insurance to cover this risk... why?

There are a number of products available to meet insurance and retirement planning goals, but you'll pay for them.

Again, its completely dependent on your situation... get hooked up with a planner and continue educating yourself.