At 70, Jude wasn’t shopping for peace of mind. She thought she’d already bought it — in the form of a whole life insurance policy for her kids. Suze Orman thought otherwise.
On an October episode of her “Women & Money” podcast, Orman responded to a letter from Jude, a retired woman paying $2,569 a year for a $50,000 policy with Mutual of Omaha. The goal, she said, was to make sure her two children received “a little something” when she passed — something extra, beyond her small 401(k).
But Orman shut it down.
“Let’s not worry about the kids,” she said. “You’re 70 years of age. Can we just start thinking about ourselves versus our kids?”
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For Orman, the numbers didn’t lie. If Jude invested that annual premium at a modest return of 8%–10%, she could end up with $45,000 in 10 years, or $160,000 in 20 years — more than triple the payout her insurance would offer.
“So yeah, you can do better things with it than that,” she said.
Still, for Jude, this wasn’t just about math. It was about maternal instinct. She didn’t buy the policy because it was efficient — she bought it because she wanted her kids to feel supported, even after she was gone. For many parents, the idea of not leaving something behind feels like failure, no matter how many spreadsheets say otherwise.
Orman didn’t ignore that emotion — she redirected it.
“The greatest thing you can pass along to them, Jude, is them seeing that their mother is living life — not, ‘Oh look, we got this money, but my mom didn’t do anything.'”
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And while she stood by her advice, she added one non-negotiable rule:
“Never cancel an insurance policy unless you know you are perfectly healthy. Period.”
The real dilemma might not be about choosing between kids and self. It’s about how to care for both — with the tools that make the most sense.
For anyone navigating the tension between legacy and lifestyle, having an expert to walk through the options matters. WISERAdvisor offers a free tool that matches you with a vetted financial advisor who meets your specific needs — with no obligation to hire them. Whether you’re protecting your children or rethinking what financial security looks like later in life, personalized guidance can help you make smarter decisions.
Because sometimes, doing what feels right and doing what’s smart aren’t the same thing — and that’s exactly why advice matters.
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