October 22, 2013 • Page 2 shop online at www.missourivalleyshopper.com Dave Says www.missourivalleyshopper.com How Much Term Do I Need? BY DAVE RAMSEY Dear Dave, Should term life insurance be purchased based on your current earnings or future, projected earnings? — Dan Dear Dan, I usually recDave ommend people have 10 to 12 times their current annual income in a good, level term life insurance policy. However, if you have a solid reason to project your income jumping significantly in the near future, there’s nothing wrong with basing your amount of life insurance coverage on that figureas long as you can afford it. Now, when I say a solid reason, I’m not talking about having an attitude of, “I’m smart. So, I’m going to make tons more money soon.” That’s ego, not reason. But if you’re in a residency finishing your medical degree, you can realistically look at making $40,000 to $50,000 for another year or two then making the jump to $200,000. That’s the kind of logical thinking and planning I’m talking about. In that scenario, a huge jump in income is almost assured. There’s nothing wrong with going ahead and getting more coverage. The purpose of life insurance is to take care of your family if something unexpected should happen to you. You don’t want to go nuts and buy too much unnecessarily, but you should have enough to ensure that they’re well taken care of when you’re not around. — Dave RAMSEY BUDGETED FUN Dear Dave, My husband and I are debt-free except for our house. I’ve been having a discussion with a coworker over how much money to allow for fun in your budget. I think $100 for a bottle of wine is okay, but she says something like that is unreasonable. What do you think? — Elizabeth Dear Elizabeth, It depends entirely on your financial situation. Paying $100 for a bottle of wine is pretty dumb if you make only $20,000 a year. But what if you make $200,000 a year? Quit worrying and buy the wine! When you have a great income-toasset ratio-and you’re living debt-free, have control of your money, and are saving and investing for the futurethat’s the time to relax and enjoy a few things. You’ve got to take the whole picture into account. Otherwise, you’ll get caught up in the whole envy and jealousy thing. I know a guy who makes $15 million a year, and recently he bought a $400,000 car. Now, I grew up in a small town in Tennessee. I can’t wrap my head around the idea of a $400,000 automobile. But as a ratio, that’s a very small part of his income. It would be like someone who makes $150,000 a year buying a $400 car. That’s a good rule of thumb for determining if something constitutes an outrageous purchase. If it’s a big-enough percentage of your income to rock your world and mess with your finances, then you’re spending too much. But to say that a certain item is too expensive or an irresponsible purchase based on price alone, that’s kind of silly. — Dave Look into the Classifieds to find dogs, cats and plenty of other pets looking for a home like yours! www.missourivalleyshopper.com To place a Classified ad, please call 605-665-5884. MV Shopper M I S S O U R I VA L L E Y CLASSIFIEDS IN PRINT & ONLINE To place your ad call... 605.665.5884 WANTED Buying all types of SCRAP IRON Farm Machinery • Cars & Trucks References Available • Top Market Prices Paid Home: 402-945-1512 • Cell: 402-533-3640 K&K Iron & Metal In our part of the country, fall means deer hunting. Many of us will dress up like a pile of leaves, go out into very cold weather, and sit still until we freeze to death. Why? Because we want to have some venison this winter for the family. We’ll figure out how much the venison costs us … but only at gunpoint. Because this is not the most fiscally sane thing we do each year. Sanity would send us to buy some really tender beef to eat. Where’s the glory in that? No, there are still a lot of us who would rather go out and find the meat and bring it home. And we spend a lot of money each year, and read lots of books and magazines, and talk endlessly about techniques. It doesn’t appear to be a rational way to live, but when you apply science, history, anthropology and Darwinian theory, it still doesn’t make any sense, but at least now you sound more educated talking about it. Doc’s awfully good at that. When the subject came up the other day at the morning meeting of the world dilemma think tank (held daily at the Mule Barn truck stop since the Hoover administration) Doc said there was actually a very clear scientific reason for it. “In cave days,” he said, “only the best hunters lived trucktrailerinc.com TRUCK TRAILERSD East Hwy. 50, Yankton, 605-665-7952 2005 INTERNATIONAL 9400I • ISX CUMMINS - 450 HP • 10 SPD TRANSMISSION • AIR RIDE SUSPENSION • 1,080,000 MILES 50 Flavors • Try Before You Buy $14,000.00 Stop Smoking | Start Vaping CALL TODAY FOR FREE ESTIMATE! Town Square Town Square I & II o 505 507 W. Apartments 505-507 W. Main St. Vermillion, SD Ve ermillion, 57069. 1 BR apartments for anyone 55 years of age older, or older, or persons with disabilities. Please call 605-624-5218 or visit www.oakleafpm.com. www.oakleafpm.com. Utilities are included and friendly. we are pet friendly. 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So if you divide this and carry the one … well, another way to look at it is … if man emerged from the trees a year ago, he was nothing but a hunter until 18 hours ago.” “Makes sense,” said Dud, “think I’ll buy some of that Autumn Fandango camo this year.” -----When’s the last time you heard a watch tick? Time for a free hearing test? Call BELTONE at 1-866-867-8700. • Nightly - Weekly - Monthly • Tile Floors - Stripping & Wax • Total Office Cleaning • References Available INSURED & BONDED SERVING YANKTON AND SURROUNDING AREA SINCE 1994 HERRITY & ASSOCIATES INC. REAL ESTATE & BRUCE R. BROCK REAL ESTATE, L.L.C. Auctioned by: Brock Auction Co., Inc. PUBLIC LAND AUCTION Scott Friday, October 25th, 2013 @ 10:00 am Paper Towels 291.2 Ac. Of Prime High Quality Farmland in Brule & Richland Twsp., Union Co., SD SAVE $2 6 Roll Check Out Chef Staci’s New Chef Inspired Meals To Go Case! 3 88 $ Do you belong to the Hy-Vee Milk Club? Buy 10 Gallons & Get 11th Gallon Free! Take Home, Heat ‘N Serve! MUST HAVE THE COUPON BELOW...ONE COUPON PER PERSON Super Savings Coupon Pepsi #574 Super Savings Coupon #575 Hy-Vee Chicken Noodle or Tomato Soup 10 FREE 4/$ 6 Pk 24 oz. Bottles Limit 4 with $25 order Limit 1 with $10 order 10.75 oz. Elisabeth Kalstad Hanson Heirs JOHN HERRITY, Broker Herrity & Associates, Inc. Real Estate 1609 Arnold Palmer Lane Elk Point, SD 57025 (712) 259-6408 www.herrityre.com Yankton Hy-Vee Only Yankton Hy-Vee Only Good 10/22 - 10/28 One coupon per person. Good 10/22 - 10/28 One coupon per person. BRUCE R. BROCK, Broker & World Champion Auctioneer Bruce R. Brock Real Estate, LLC. 30 Plymouth St. SW Le Mars, IA 51031 (605) 593-1099 / (877) 653-4016 Licensed in IA, NE, SD *Auctioneer/Broker represents the sellers interests in this transaction - Owners