Read? Hey! Are You Married With Kids?
If you still have loved ones with you; then securing your financial journey to your retirement endpoint is NOT as simple as you may have thought about it.
When something bad or critical happened to our beloved ones; we may immediately change our mind on the original intent of our money!
Read? That's what an Emergency fund is for!
Real People. Real Shifting of Money
Quote : "It's when my mum gets sick then I realize my port is not my port anyway. Had to liquidate it to pay this pay that."
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The Moral of the Story :
ReplyDeleteLocking up your money at your retirement endpoint or even worse your children's retirement endpoint? You may have to think triple harder than you have initially thought.
Use correct insurance to transfer risk away to 3rd party.
ReplyDeleteNot so easy becoz 99% of financial salesmen/women will sell you rubbish insurance that pays good commissions to their own pockets as well as good profits for the insurance companies.
Also use legal tools to safeguard assets meant for loved ones e.g. against bankruptcy.
Generally it is the prudent who survive & do relatively OK.
The garang & greedy may be the ones to become billionaires, but for every 1 who make it, 10,000 others will fail.
As I always say, I rather be lucky than good anyday!!!
Since I'm not so lucky, so I better be prudent!! Hahahaha!!!! :)