Are you saving for your retirement?
Are you saving for your child eduacation?
Are you saving for your emergency or back-up?
How much is your saving every month?
Nowadays, many people do not plan for their future. In those days, most of our parents save for the rainy days. They lived in a large family. Everyone share some resources, risks, and contribute collectively to attain better living and welfare for all in the family community. That is a kind of informal insurance.
Why take the risk now if you have an easy way to save money and resolve your problems in case of anything happened to you or your family?
How many percents of your income have to be saved for the future?
How many percents of your income go to your housing installment?
How many percents of your income go to your luxury car?
What is more important to you? Yourself or your properties?
I am so suprised that some people do not have any insurance and financial plan at all. Instead, they have good motor vehicles insurance, house insurance, even their home theatre set owns an insurance. The answer is simply because without a vehicle insurance policy, the car is not allowed on the road. And the person thinks that the house or home theatre possesses some value worths to be insured. If something happened to the car, house, or equipments, the insurance company pay for the damages or replacement cost. Now, what about you? If converted into value, you are a precious source that generates continuous income or even valuable enough to obtain other things that you own.
Walking down the aisle
I am glad that if a married couple do plan for their future. Love brings them together but unexpected incident may seperate them apart. They want to provide the sense of security to their beloved partner. The insurance comes into the picture. But how can money replaces your love one? Money is not everything, I totally agree with you. But it can help you to solve the financial problems, coping with some difficulties or cushion some impact during the time when you almost fall apart. It helps you to carry on with your life.
Children needsThe insurance takes care of your children' education needs when they grow up. Although a long-term investment plan may cause you some restrictions now, cut down entertainment, alchohol consumption, luxury life styles. But it gives you the financial freedom in future. If anything happens to your child such as requiring expensive medical treatments, who would help you in that crucial moment? Advertising in the newspapers, seeking public donations, asking for help from charity organizations may take some time? We are spending lavishly on toys, clothes, holidays with children. But we should priotize the investment and plan for their future. Prepare some contigency money when they need the most.
Young and single people has no much worries and heavy responsibilties, I often heard them saying no need to worry about it for the time being. The question is, when you are not around, who would take care of your parents when they grow old? To everyone, losing your love one, already tearing your heart apart. Can you imagine your parents have to depend on the small assistance from social welfare department? Would it be a nicer situation if you could leave your love one with a fortune that lessen their worries in daily life? They took care of you since your were a baby, now, it is your turn to give them a little care you can afford.
