Life insurance is not just for your survivors when you die. It can be a phenomenal planning tool with great benefits for you while you’re alive. To benefit, however, you will need to plan ahead and be open to seeing beyond the premium payments and the death benefit to the opportunities the insurance can provide you today (peace of mind and living benefits, to name just two).
Why should you really add an additional expense to insure something that might not happen? One often overlooked benefit is simply the peace of mind that you get to take the steps needed to move you forward in your financial planning. If you know you are covered if things get really bad, or some unexpected situation comes up, you have more confidence to invest more, to start a business, to change your income and to enjoy your life.
How do you know where to start with investing? Well, besides having the proper foundation, and time and space and support, it is important to begin to develop your own strategies. You can learn from others – emulate them, study them, adapt them but, because we are all different and all have different interests, reference points, and access to different information at different times, one of the first ways to begin to develop your own personal investment strategy is to do an evaluation of your interests. Do some research and start to notice what companies, what aspects of companies, what type of investments, and how the information is presented to you that makes you take notice.
When do you start this process? Now. Even if you don’t have an investment portfolio and you don’t have money to invest, you can read the newspaper and watch the business news. You can pay attention to trends, to activities of stores or businesses that you know about and are interested in. Start to cultivate a financial interest in the things you are already interested in. Write down headlines, types of businesses and company names that seem to be of interest to you. Then start asking questions about potential investment opportunities or moneymaking ideas.
Encouraging & Empowering Financial Possibilities
