A hard question with a plain answer. Work it out once, then you can stop carrying it.
What your family would need
Cards, car loans, student loans — everything except the mortgage.
What it would take to pay the house off.
Often your take-home pay, or what the house needs to keep running.
A common choice: until your youngest is on their own.
College or trade school for the kids, in today’s dollars.
What’s already in place
Term policies plus coverage through work. Work coverage usually ends when the job does.
What your family could actually draw on. Leave out the emergency fund if it’s spoken for.
Coverage gap
—
Fill in what your family would need, and the number comes together below.
Next step · Clear
Debt Payoff PlannerEvery dollar of debt cleared is a dollar less your family would need.
