35 minutes to riches

It's Money Magazine's 35th anniversary. In its honor, here are 47 smart ways to get on track to a rich life.

By Asa Fitch, Amanda Gengler, Josh Hyatt and Ismat Sarah Mangla

Rules of Thumb for life insurance
All policies fall into one of two camps
Insurance is sold, not bought
Whole life is expensive
Whole-life policies are built on assumptions
Keep your investing and insurance strictly separate
Buy enough term coverage to fill your needs
Match the term of the policy to your needs
Buy when you're healthy
Tell the truth
Use the Web to shop

15 of 41

Estimate your life insurance

Time it takes: 35 minutes

How much coverage is enough? For a fast ballpark estimate, multiply your annual income by five. With 35 minutes you can use the detailed calculator from the Life and Health Insurance Foundation for Education (life line.org). You'll be asked for your assets and debts, plus answers to tough questions like how long your family would need income after your death. If you find you need more coverage, get a quote on a term policy in five minutes at accuquote.com.

Credit score Raise your credit score Triple the return on savings Stop junk mail Freeze your credit Cut your credit rate Upgrade to a better card Add to your 401(k) Asset Allocation Buy a forever portfolio Find promising funds Track returns Check salary Retirement plan Life insurance Tax bracket Escape late fees Write bounce-proof checks Auto insurance Double-check your taxes Keep more of your paycheck Tax break for day care Pay less for your cell Cut drug costs No more waiting rooms Burn calories Be like Buffett Save for college Automate your savings Get credit, even in a crunch Read your mortgage Save on your mortgage Create an insurance record Curb impulse buys Spend consciously Slash recurring charges Boost your mileage Find it cheaper online Demand a lower cable bill Save on drinking water 35-second solutions

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