How many of you have heard of Robert Kiyosaki's theory on "Why the Rich Gets Richer"? One method is to stay ahead, think bigger, and come out with a better plan. Key word is planning. What we all have on our hand is the same comodity called 'time'. No matter what you are doing now, time is ticking away. So do you want to make use of time to better use?
In this article by Mr. Ben Fok, the CEO of Grandtag Financial Consultancy, and my former lecturer for my CFP course, he again highlighted on the usage of insurance as one of the tools for proper wealth management.
"The virtues of life insurance are obvious. By paying a premium to the insurer, I get to enjoy the coverage as it will step in to meet its obligations should anything untoward happen to me. Most importantly I know that all of my family's financial needs are well taken care of."
I am quite sure most of you will have some insurance policies stored in your cupboards (collecting dust), thinking: "Enough liao lar... don't waste money on further policies... spend spend spend only..."
From my professional point of view, it simply boils down to whether you are having sufficient coverage, and whether you are using the proper instruments to achieve your objectives in the first place.
Of course, you can choose to procastinate the process and pray hard that nothing will happen to you. But just look at the news and people around you, are you financially strong enough to absorb that kind of unforeseen risk? Can you imagine yourself losing that kind of regular income overnight due to accident.. or critical illness...or... ?
Nobody fails to plan, only plans to fail.
Do contact me @ 9876-0237 if you seriously wish to take a strong step to establish your financial goals and objectives.
If you think your money is safe inside the bank, wrong. Without you knowing it, your savings mught just get eaten up by inflation silently. Savings account earned an average of 0.22%/annum in January 2009, before holding at just 0.16% from July to last month.
