Saving and Investment plus Insurance

🤔 ⚛️

"I'm too young to buy life insurance... I'll buy it when I'm ready..."

If you ever have this thought, then this post is for you!

Growing up, you are told you are too young to do so many things, from driving a car, owning a phone to traveling alone or making some decision on your life... you count it.

Now, in your 20s, you think yet again that you are too young to buy life insurance. You probably believe it’s for old people. But listen, you ARE old enough. If you are old enough to worry about your loved ones, start living on your own, dating, marriage or have kids, then you are also OLD enough to buy life insurance for yourself.

Here are 𝟒 𝐫𝐞𝐚𝐬𝐨𝐧𝐬 𝐰𝐡𝐲 𝐲𝐨𝐮 𝐬𝐡𝐨𝐮𝐥𝐝 𝐜𝐨𝐧𝐬𝐢𝐝𝐞𝐫 𝐛𝐮𝐲𝐢𝐧𝐠 𝐥𝐢𝐟𝐞 𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐧𝐨𝐰, when you are still young & healthy rather than later:

𝟏. 𝐘𝐨𝐮 𝐜𝐚𝐧 𝐠𝐞𝐭 𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐰𝐢𝐭𝐡 𝐚 𝐥𝐨𝐰𝐞𝐫 𝐩𝐫𝐞𝐦𝐢𝐮𝐦 𝐚𝐧𝐝 𝐛𝐞𝐭𝐭𝐞𝐫 𝐜𝐨𝐯𝐞𝐫𝐚𝐠𝐞
Age & health condition are crucial amongst the several other factors that affect how much you pay for life insurance. Generally, the younger and healthier you are, the lower your premiums will be. You can use online life insurance premium calculators to estimate your coverage costs and get a better insight on this.

𝟐. 𝐓𝐡𝐞 𝐞𝐚𝐫𝐥𝐢𝐞𝐫 𝐲𝐨𝐮 𝐚𝐫𝐞 𝐜𝐨𝐯𝐞𝐫𝐞𝐝, 𝐭𝐡𝐞 𝐦𝐨𝐫𝐞 𝐩𝐞𝐚𝐜𝐞 𝐨𝐟 𝐦𝐢𝐧𝐝 𝐲𝐨𝐮 𝐠𝐞𝐭
There is actually something money can’t buy, that is an insurance policy. Insurance is purchased with 2 things, health, and age. That's why, buying life insurance early will give you the peace of mind to focus on things that more important in your life rather than living with the fear of losing everything you have suddenly.

𝟑. 𝐁𝐚𝐧𝐤 𝐛𝐚𝐥𝐚𝐧𝐜𝐞 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧𝐞𝐝
Your medical bills are not likely to deplete your bank balance if you have an effective insurance plan in place.

𝟒. 𝐈𝐭 𝐜𝐚𝐧 𝐜𝐫𝐞𝐚𝐭𝐞 𝐚 𝐥𝐞𝐠𝐚𝐜𝐲
In your 20s or early 30s, you may not have had a chance to build significant assets. Life insurance can replace what you would have accumulated over a lifetime of work and saving so you have something to pass on to your loved ones when you are not there anymore. Additionally, you might be “passing on” things to your family that you’d prefer not to—like debts and liabilities.

== 𝐇𝐞𝐫𝐞 𝐢𝐬 𝐰𝐡𝐚𝐭 𝐲𝐨𝐮 𝐜𝐚𝐧 𝐝𝐨 ==
✅𝐀𝐬𝐤 𝐲𝐨𝐮𝐫𝐬𝐞𝐥𝐟 𝐢𝐟 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐞𝐧𝐨𝐮𝐠𝐡 𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 - If you are not sure, talk to an advisor to find out about it.
✅𝐈𝐟 𝐲𝐨𝐮 𝐝𝐨𝐧’𝐭 𝐡𝐚𝐯𝐞 𝐚𝐧𝐲 𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞, 𝐜𝐡𝐞𝐜𝐤 𝐰𝐢𝐭𝐡 𝐡𝐢𝐦/𝐡𝐞𝐫 𝐢𝐟 𝐲𝐨𝐮 𝐜𝐚𝐧 𝐬𝐭𝐢𝐥𝐥 𝐩𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐢𝐭 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮𝐫 𝐜𝐮𝐫𝐫𝐞𝐧𝐭 𝐚𝐠𝐞 𝐚𝐧𝐝 𝐡𝐞𝐚𝐥𝐭𝐡 𝐜𝐨𝐧𝐝𝐢𝐭𝐢𝐨𝐧𝐬 - At least make sure you can still buy insurance.
✅𝐈𝐟 𝐲𝐨𝐮 𝐚𝐫𝐞 𝐟𝐮𝐥𝐥𝐲 𝐜𝐨𝐯𝐞𝐫𝐞𝐝 𝐠𝐫𝐞𝐚𝐭 - Spend time finding out if the people you care about are fully covered, if not advise them to and be their guide.
✅𝐈𝐟 𝐲𝐨𝐮 𝐰𝐚𝐧𝐭 𝐭𝐨 𝐭𝐫𝐲 𝐭𝐨 𝐟𝐢𝐠𝐮𝐫𝐞 𝐨𝐮𝐭 𝐡𝐨𝐰 𝐦𝐮𝐜𝐡 𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐲𝐨𝐮 𝐧𝐞𝐞𝐝 - Ask your advisor to send you a copy of the “𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐏𝐥𝐚𝐧𝐧𝐢𝐧𝐠 𝐁𝐨𝐨𝐤”. Read it to find out more about insurance yourself.

Remember, insurance serves to give you and your loved one’s peace of mind. Get yourself covered as early as you can, 𝐛𝐞𝐜𝐚𝐮𝐬𝐞 𝐩𝐫𝐞𝐦𝐢𝐮𝐦𝐬 𝐰𝐢𝐥𝐥 𝐨𝐧𝐥𝐲 𝐠𝐞𝐭 𝐦𝐨𝐫𝐞 𝐞𝐱𝐩𝐞𝐧𝐬𝐢𝐯𝐞 across time. ⠀
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Every professional financial advisor knows that premiums will ONLY get more expensive across time, that is why some are rushing to meet you during this period of time!

A five minute read.
Financial Planning
ESTATE PLANNING is the process of anticipating, arranging, during a person’s life for the management and disposal of that person’s estate during the person’s life, in the event the person becomes incapacitated and after death.

While going home, my husband told me about a couple in their retirement age, they were on a process of titling a property as close to my husband is doing. While waiting for their turn to be called in the Government Office they told my husband about their struggle. It has been three years since they started the process , they are now on the 3rd generation😌

Nakarelate dayon akong husband about my lolo who passed away 12 years ago. He is referring to my maternal grandfather, Tatay Terencio. That maybe even if Financial planning was not widely introduced and media is not yet the trend about learnings, he had Financial Education at his time.

Upon my knowledge my lolo graduated his High School in Xavier University , got Diploma in special studies in Foreign Language, but he did not pursue college because he chose to become a farmer. Until He managed and cultivated himself an 88Hectares farmland in Patrocinio owner by his family loaded with coffee trees. He always told me then , “These area was my farm when i was still single now owned by Dr. Harin (if i’m not mistaken) as we passed by going to Claveria.

When my lolo married they sold the farm and settled again in Villanueva. My lola had managed a mini grocery in Tag-anga while my lolo still cultivated a farm in Tagbalogo(now Amley area). As he told me farther that he also sold coconut coals aside from coconut meat.

I was not yet born at this time. Only when they transferred to Katipunan that i am already enjoying the fruits of labor of my lolo like harvesting the 50 trees of calamansi (karemember ko cge ko mabunalan magbike to selling calamansi) joining my friends and aunties got the coconut meat (kanang maglugit me gaka enjoy ko ang reward coca cola😹), selling also the banana (kadisnon). Cows, pig, goats, chicken , duck... murag SM we’ve got it all.

Quite soon when i was in HighSchool my lolo sold his property in Kirahon ( vast plantation of coconut trees) to Phividec widely 10 hectares. They added their old jeepy-like vehicle to White Tamaraw FX.

Fastforward, when he reached retirement stage with my lola, i could remember he can no longer worked physically like a cow... I think this time they worked now like a lion🙂
They enjoy rentals from properties and passive income from bank interests. They can afford their maintenances and enjoy eating food they like without entrusting all their needs from their children. ( addressed sandwich mentality experienced by the millennials)

When my lolo got ill after my lola, they already allocated funds for their critical illness. They have time deposits. ( cge ko ask before why man maglahi paman mo ana nay? Para dli na magproblema clang mama nimu ug ugma magsakit mi). Although nashort pa gyud but it was not not that huge.

After my lolo passed away, he had 5 titled lot already named after his 5 children. Consequently he was already anticipating the estate taxes also.

As today VuL insurnace is already available...
Fortunate that this is already introduce to us.
Thank you to the Doctor Marius Barnard who invented the critical illness insurance.

Gratifyingly , thanks to my lolo who also made his financial planning for us.

Let’s talk😚
I’m your license FA.

Why parents need life insurance for the purpose of retirement.
( a two-minute read)

I have met a story of both seniors lolo and lola. They are not from this place but from somewhere in Visayas. Early in the 70’s they came to a town as government employees . At that time many wouldn’t like to work for the government because the salary was too low compare to the private. So this couple, decided to a shift in their source of living . They decided to build a business of buying and selling of goods. Groceries and rice trading as well. The town at that time was still far from the civilization because of transportation and the peace and order situation. The business they got was a boom. They earned well and they settle their children to the best school in the city. All of them got a degree. The town became to prosper. Many then invested business in the area. They invested well to their children and forgot that they were already aging.. They forgot to set aside funds for their retirement. Time that they got sick and starting to buy their health maintenance and sometimes went to the hospital for confinement. They just rely funds from their children. But later realized that these children also had their family.

( A Reflection: Breaking the Sandwich Generation for the economy and the coming years)

Without passion, you don’t have energy.
Without energy, you have nothing.

- Warren Buffet

Ask me...

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