6 PILLARS OF WEALTH CREATION
Income Protection
(A six part series on wealth building)
Let me start of this
article by giving you the very basic of ones journey in building wealth.
This is vital and
the base of our pyramid. Why? Because this is the money used to provide the
daily, weekly. Monthly sustenance you and your family will need when an
unexpected emergency arises. What are these emergencies I am referring to?
1. Loss of Life
2. accident
3. disability ( one is still alive but can not
move without
assistance)
4. sickness
5. dismemberment ( a part of the body is
impaired that makes
one invalid)
These are just some
of life’s episodes that WILL happen
( specially loss of
life) The question is WHEN it will
happen (We can never say). Once this happens, family will suffer. Yes, they
will suffer from the loss in many aspects.
1. Loss of a loved one
2. Loss of Money, Children may not be
able to finish
school. There will be no money for
tuition fee,
allowance, books, clothing , etc.
3. Loss of dignity. The lifestyle that
the family is used
to will be downgraded.
4. Loss of youth. The child may have to
go to work
and stop school.
5. Loss of role model. Spouse may I have to be
away from the children just to find work and no one will be left watching over
the children.
So many stories and
life experiences happened that could have been prevented if only proper plans
were made.
My advice is that
the best gift that we could really do for ourselves and our loved ones is to plan
and protect
your FINANCIAL FUTURE. Done by
arranging a strategy that can provide when loss of income strikes. This is when
either one or two of the income provider is not there to fend for the family.
This is a scary thought but it is REALITY.
NO ONE PLANS AND
FAIL but MANY FAIL BECAUSE THEY DO NOT PLAN.
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