Incorrect Professional Advice That Was Correct With Time

Discussion in 'Investment Strategy' started by kierank, 22nd Jan, 2016.

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  1. kierank

    kierank Well-Known Member

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    No problem.

    I have a saying which is "If you can't afford to lose it, you can afford to lose it".

    The corollary is "If you can afford to lose it, you don't need to insure it".

    While one doesn't want to pass on (it is currently guaranteed for all of us), the risk of it occurring goes up exponentially as we get older. The good news for most of us is that our assets increase in value and, as a result, our passive income goes up as well. The need for our beneficiaries to receive an income/payment on our death is reduced.

    That is, our loved ones can afford to lose us, financially at least. Hence, no need for life insurance.

    I trust this makes sense.
     
    trinity168 likes this.
  2. kierank

    kierank Well-Known Member

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    This should read:

    "If you can't afford to lose it, you can afford to insure it".
     
  3. trinity168

    trinity168 Well-Known Member

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    kierank likes this.