One of the most powerful tools on your path to building wealth is your investment in income protection.
Yes, it’s time for the talk.
The more years you have ahead of you, the more time you have for compound interest to work its magic on the bottom line of your investments.
Unfortunately, each of us only has a finite number of years here.
We spend a huge chunk of our lives working.
However, not enough of us take the time to invest in, plan for, or protect our future.
We naively assume that we’ll always have more time and ability to make more coin.
When it comes to this life, no one owes us anything, especially more time.
For the past year, the pandemic has proven that over and over again.
1 in 4 Americans don’t have life insurance.
Around 60% do have group life insurance plans through their jobs.
But what happens to that employer life insurance policy when there’s a market crash…
Or a pandemic that causes massive layoffs?
So many families were left in financial ruins because bread winners were underinsured, or had none at all.
And when we pass away, there are ALWAYS final expenses.
Not just funeral expenses.
There’s also mortgages, car payments, debt, etc. that still need to be paid.
If you don’t have life insurance or significant investments in place, your family is left holding the bag.
Do you really want to take a 25% chance that your spouse and children may lose their home after you’re gone?
The reality is that it happens every day.
If this sounds like a pitch for life insurance, it’s because it is.
Life insurance isn’t a scam.
Life insurance is not a scam.
It’s a very real way to protect your family and preserve your legacy after you’re gone.
It should be a critical piece of your succession plan.
Until Elon Musk figures out how to live forever, we have to plan for our passing.
If it makes you feel better, think of it as another way to optimize the time horizon on your investments.
Expand your investment strategy and goals to include the income protection that life insurance provides.
If you have a spouse, children, or any other family that you care for, think about what will happen to them once your clock stops.
Stay tuned for a full breakdown on the different types of life insurance, and how much coverage you should have.
As always, your plan for wealth building should include stock market investments.
And our Precision Volume Alerts service is a great way to start racking up quick wins in your investing plan.
In the month of May alone, members have booked profits of 66%, 95% and 114%.
These kinds of consistent returns can be a game changer for your portfolio.
More new picks are coming soon, so keep an eye out.