Sunday, February 8, 2009


Many people always wonder about the current situation; not knowing what to do and perhaps pointing the finger at others for decisions previously made. Buying that house, getting twelve credit cards, not saving for the emergency fund just in case you get lay off; procrastinating and again pointing the finger and blaming everyone else. I recommend taking ownership and responsibility. One that I do not understand is taking care of the families. I have been introduced to a more somber part of life, death. I experienced what families go through when someone dear dies suddenly and the sad part is that they have to ask for a collection to pay for the funeral and final expenses. This is very sad. On the other hand, I have experienced families that possesses an emergency fund, life insurance for the family and when someone dies they can cope with the loss more respectably and keep the family afloat. Only 30% of the population possesses some form of life insurance. Most have only a skimpy group insurance for $10,000 death benefit. That only covers final expenses, how about if you have young children and a spouse? what are they ought to do? For one start with a financial plan. this will help you analyse, how much you will need, but essentially what happens if you do not get up the next morning, how this protection will be used to fund your family's future and well being. No one likes to think about death. It is inevitable and it will happen. I have learned of a product that provides a triple solution to family planning. 1. it provides protection for all the members. 2. it provides a cash accumulation just in case an emergency happens (emergency fund) and 3. it can be used to fund a retirement account that provides tax-free benefits, now I like that. It covers three essential needs and it protects your love ones. It is sad that many learn this to late and when they become uninsurable. Goals without a plan are just plain dreams and wishful thinking.

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