What would you do if you couldn’t work for 1 month?
What about 3 years? Or worse… permanently.
What would you do if you couldn’t work as quickly as you used to due to an injury? Or if you couldn’t do your job anymore so you had to scramble to find a job you could do with your diminished function?
What would you say if someone asked you to name your most valuable financial asset?
Many high earners believe their most valuable assets are their savings and investments.
At this stage in your life, you probably have substantial savings in both your home, savings, and investment accounts. They’re the most significant part of your tangible asset portfolio.
And yet, none of these is your most valuable asset.
Still, you’ve put protection in place for these types of assets. Homeowners insurance, maybe an umbrella policy, and estate planning. Despite all this, you may not have safeguards around your most important treasure.
So, if it’s not your retirement portfolio or your house, then what’s your most valuable asset?
Your ability to earn.
Questions you might be asking yourself include:
Do I have any earnings safeguards in place right now?
How would I replace my monthly income if something happened to me?
What happens to my family if my medical costs eat into our savings and I’m not earning an income?
How can I find a way to protect my income over both the short and long term, without spending too much money?If these questions strike a chord with you, keep Listening...
1 https://www.ssa.gov/disabilityfacts/facts.html
2 https://einsteinmed.org/administration/environmental-health-safety/accident-injury-reduction-campagin/top-injuries.aspx
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