Sunday, 14 April 2013

Family Finance in your absence

It is natural for us to say "Do it Tomorrow" ~ Procrastination is the THIEF of time “Only put off until tomorrow what you are willing to die having left undone” ― Pablo Picasso You have to find and have a replacement to your income and secure your dependent financially in your absence. No matter what people say you have to have 'Life Insurance' with some personal accident policies. If you can afford having Health Card facilities, which allows you to minimise risk of incurring medical expenses need especially if diagnosed with disease or illness which can cost a bomb. You have to invest in Insurance as your family 'future expenses' during your absence is necessary. In addition to the present value of education, health and travel expenses incorporate living expenses as well as the cost of any aspirational goals for your children or other imperative goals. If there is no 'secure income' can the people your live behind survive. They need an 'immediate access' to cash to help them grow. They probably use some cash to re-invest in some solid business or put them in a secure place that can re-generate more cash. If you have noticed I have put the terms as 're-invest' and 're-generate'. You as the initial investor have actually invested your income in a 'third party' institution which is the Insurance Company, the income that was generated here is the Cash Returns that you have left for your family.

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