The path to financial security involves a combination of discipline, awareness, and strategic planning. By adopting these simple practices, you’re not just saving money; you’re investing in a future that offers peace of mind, stability, and the freedom to enjoy life’s pleasures without the burden of financial uncertainty.
Last week my wife, Shelia, and I came to the realization that the degree of pain you feel when someone dies is directly proportional to how good that person was. Last week, we learned that Mike, a really good person, had suffered a heart attack and died. And we really feel the pain of his death.
By changing our mindset and adopting positive financial habits, we can pave the way for financial success. Remember, learning is a lifelong journey, and every piece of financial knowledge brings
you one step closer to financial freedom.
Thanks to my Dad, I’ve long prided myself on being tuned into all things financial. He was a great stock picker and real estate investor and I’d like to think a tiny bit of that rubbed off. But when it came to life insurance, I did what most people do: buy a term policy and forget it. The only problem with term is that 99 percent of all term policies lapse without paying a claim. This is good because you’re still alive, but the cost of replacing a term policy expiring when you’re a senior is breathtakingly prohibitive. Knowing what I know now, I would have opted for a whole life Indexed Universal Life (IUL) insurance plan. Here’s why.
Rolling over your savings into an annuity is one way to steady the ship and guarantee that your lifetime of hard work doesn’t sink like a rock.