I Had Pretty Good Diversification

I’m not completely thrilled with everything my financial advisor did with my money before she retired, but one pretty good plan she had was to have my buy term life insurance with a lump sum. I think the thinking was that although the lump might not grow that much, (and guess what? In this economy, it didn’t,) it wouldn’t shrink, either, and it would guarantee college money for the boys in case I died.

Well, both boys have started college now at CU Boulder, and I figure that if I die, they have their grandparents’ money to rely on. What’s been VERY nice, is I could just cancel that policy and get my money back with no penalty!

I had a mix of things including some other life insurance, a money market account and some stuff in stocks which of course have really tanked. But I think that diversification is what has really helped me not panic in these times. This and another account could be cashed in with no penalty, which enables me to leave the one that sucks alone for now in the hope that it will bounce back. So even though she listed my son’s main college account in my ex-husband’s ssn so he gets to write off the losses, overall she did a pretty good job.