What’s your most valuable asset?
Most people that I know, when asked about their most valuable asset, will very quickly respond with either their house or, those that don’t own a house, will tell me about their car. Naturally, we like to protect our most valuable assets, so we don’t hesitate to take out insurance policies protecting our house, contents and car.
Having recently gone through the process of buying a car, I found it interesting that the sales team wanted to first make sure I had obtained insurance for the car before they handed over the keys. It was their duty of care, they explained.
Why is it that most of us tend to take our health for granted? We don’t stop to think what would happen if our ability to work and earn an income suddenly got taken away from us. For all the time we spend thinking about what insurance is best for our home and cars, we should be spending twice the amount of time thinking about insuring our financial well-being.
A 35-year-old person earning $100,000 a year will earn a minimum of $3,000,000 in their working life (if they retired at the age of 65) and that’s before we apply indexation or potential pay increases into the equation. Isn’t this something worth protecting?
Our income is what allows us to buy a house, a car and provide for ourselves and our families – maintaining the lifestyle we have worked so hard to create for ourselves. This is the most valuable asset that I have chosen to protect and so should you.
Reach out to us if you need help looking after yourself in this way. It’s easier and simpler than you may think.