3 Things 8-16

08/17/2021 Although MAS is a financial services company, not everything published herein will be about numbers or investing. But no matter the topic, we hope for three things: 1) That you find the time you spend engaged worthwhile. 2) That you’ll reach out to us for help in any of our areas of expertise if something we discuss creates an urging in you to do so. 3) That you’ll share this with somebody new each time you read it. Thing One Five Types Of Insurance Everyone Should Consider 1. Long-Term Disability Insurance According to the Social Security Administration, one in four of today's twenty-year-olds will become disabled for 90 days or more before they turn 67. LTDI replaces up to 70% of the income lost due to the inability to work. Whose should get LTDI?: Anybody who doesn't have another source of income to replace the income lost to disability. 2. Life Insurance Life insurance is for the people you leave behind. It can either serve as a replacement for the financial support that you provided while living or a financial boost if your survivors weren't dependents. Who should get life insurance?: Anybody with dependents who would be financially vulnerable if they died or anybody who wants to leave more money than they were able to amass through saving and/or investing. 3. Health Insurance Healthcare costs are high, and for many, they are a major financial burden/expense. But they're even more so without health insurance. Who should get health insurance?: Everybody. 4. Homeowner's Insurance Occasionally, water heaters flood floors, trees fall on roofs, fires burn all or parts of homes, and visitors slip and fall. A homeowner's insurance policy takes care of the associated financial consequences and lets the individuals focus on the physical and emotional. Renter's insurance is a subset of this type of insurance. Who should get homeowner's insurance?: Everybody who owns a home. Who should get renter's insurance?: Any renter who wants to make sure his personal property and potential physical displacement would be covered events like a fire or flood. 5. Automobile Insurance All states require some level of coverage. Still, many people don't get any or get only the state minimum requirements. This puts them at financial risk if they are in an accident. Who should get auto insurance?: Everybody who owns a car. (Get enough coverage and shop it often!)

Thing Two Is It Worth It The following is a random collection of bullet points concerning college degrees:

  • The Wharton School of Business MBA costs $210,000. But if you're good enough to get in (and graduate) take comfort in knowing that 90% of Wharton graduates land $150,000/year jobs.

  • The average debt of a person who earned a master's degree in film from Columbia University was $180,000. Two years after graduation the average salary for over half of the graduates was less than $30,000

  • The average law school student has $145,000 in debt. But most of the high-paying jobs got to the best students from the elite universities.

Note: This last one is somewhat counterintuitive. The excerpt below comes directly from an article titled, "The 10 Most Useless Degrees In 2021 (And What To Do)" from the website, ownyourownfuture.com. It's number 10 on the list. The other nine are: Advertising, Anthropology and Archaeology, Fashion and Design, Tourism and Hospitality, Communications, Education, Criminal Justice, Creative Writing, Theatre Arts "10. Computer Science Computer science is one of the most perspective STEM disciplines, but it’s becoming oversaturated. More importantly, computer science has a lot of sub-fields that cater to the attention of students. It’s a degree that can be stressful and exhausting to take, with fewer job opportunities that will match your interest. More importantly, a lot of textbooks that cover computer science are outdated as soon as they are published, and courses need careful attention from the side of the educator. What to do: Computer science can be applied in nearly every field. If there’s some other STEM discipline that interests you such as mechanical engineering, electro-engineering, or mathematics, there are a lot of free courses online that allow students to learn new skills in the computer science field." Buyer beware!

Thing Three Just A Thought "I wanted a perfect ending. Now I’ve learned, the hard way, that some poems don’t rhyme, and some stories don’t have a clear beginning, middle, and end. Life is about not knowing, having to change, taking the moment, and making the best of it, without knowing what’s going to happen next. Delicious Ambiguity. ” — Gilda Radner