Greetings to you my fellow!
I hope the past five parts have given you some ideas or have brought you into your respective turning points to also consider developing your financial aspects. If this is your first time to read this series, please do not hesitate to refer to the following previous parts:
Hooray! We're already on the 6th Part!
To start,
"The life of every man proceedeth from his childhood to his old age. This is the path of life and no man may deviate from it unless the Gods call him prematurely to the world beyond." - Arkad
Well, maybe that above statement would give you an idea already of what this Part 6 all about. And I know maybe most of you are very familiar with it.
Moving on.. the SIXTH of the Seven Cures of a Lean Purse:
▪️Insure a future income.
Provide in advance for the needs of thy growing age and the protection of thy own family
In this stage, Arkad considers that we have already started to build our assets and investments. According to his cures, it is just right to prepare for the days in the future that we may no longer able to learn and earn.
Why?
We do not know what the future holds. If we won't prepare for the possible events that may happen, aside from the loneliness that we may bring to our family, we could also give them stress on how are they going to continue now that they have lost you.
"Therefore do I say that it behooves a man to make preparation for a suitable income in the days to come, when he is no longer young, and to make preparations for his family should he be no longer with them to comfort and support them." - Arkad
How?
If during Arkad's time, the way to insure a future income is to lend money to money lenders and get the money rental after many years with interest. Nowadays, we can insure a future income through life insurance.
Basically, a life insurance is something that you pay ahead and when an unforeseen event that may happen to you, the beneficiaries that you listed will get an amount of money for them to continue without you. And if you're that person who have established a lot of assets, the money that your beneficiaries receive would be used to pay the estate taxes according to the amount of assets you own. Anyways, more on estate matters in my future posts.
Let's go back to the sixth cure, if you're that person who's a breadwinner (though I am not limiting to breadwinners alone) of your family -- I hope this post would encourage you to study and know more about life insurance and consider having it.
Whilst we are so busy acquiring assets and investments, may we consider the unexpected things that may happen and prepare for it.
We're almost done with Arkad's cures for our lean purse! I hope this series gave you great lessons as it gave me.
Disclaimer: Me sharing to you these doesn't mean that I have successfully followed it all, but I am applying it. Well, it doesn't work over night and it won't. It entails sacrifice and discipline. Believing and following these are all up to you.
If you find something wrong with my post, please feel free to correct me. I am very open for suggestions and other reactions that would help me improve my posts. Thank you.
Thank you so much for following this series! Keep posted for the last but not the least one!💕