{"id":8076,"date":"2021-10-04T21:11:16","date_gmt":"2021-10-04T19:11:16","guid":{"rendered":"https:\/\/wealthymefs.co.za\/?p=8076"},"modified":"2021-10-04T21:32:30","modified_gmt":"2021-10-04T19:32:30","slug":"life-insurance-is-your-second-greatest-asset-while-accumulating-financial-capital-or-assets-can-you-guess-what-is-the-first","status":"publish","type":"post","link":"https:\/\/wealthymefs.co.za\/?p=8076","title":{"rendered":"Life Insurance is your second greatest asset while accumulating financial capital or assets. Can you guess what is the first?"},"content":{"rendered":"\n

For millions of people in our country, their greatest asset is their ability<\/em><\/strong> to create wealth and earn a living. Your ability refers to the life in your body, your soundness of mind and the physical strength to perform work.<\/p>\n\n\n\n

As human beings, we live in an ecosystem where we are required to create value for one another. We exchange money for products and services. This exchange for value can become either a monthly<\/em> living expense or a once-off<\/em> capital expense.<\/p>\n\n\n\n

Take your mobile phone contract for example. You exchange money on a monthly basis in exchange for the value of the device as well as being able to communicate through calls, emails and instant messages. Perhaps you saved up enough to construct your dream kitchen. Upon completion of the project, you enjoy a more vibrant cooking experience and maybe an electricity expense saving because of the more efficient electrical appliances in your new kitchen.<\/p>\n\n\n\n

You need an income to pay for the products and services that provides you and your family with a particular standard of living. For most people, income is derived from their occupation. For others, income is derived mostly from financial capital or assets. Ideally, the latter should be the objective for all of us. This achievement is often referred to as financial freedom. Until we reach this point, the ability<\/em><\/strong> to provide for ourselves and our families remains our greatest asset.<\/p>\n\n\n\n

All organisations need a strategy to achieve success. A solid strategy considers almost all eventualities. For example, in the event that the office burns down, what is the disaster recovery plan? In the same manner, on a household level, we need to have a strategy that involves scenario planning to achieve goals and objectives. For example, what is the plan should you or your partner pass away prematurely?<\/p>\n\n\n\n

This strategy is a component of the value WealthyMe provides to our customers.<\/p>\n\n\n\n

Let\u2019s assume you die too soon, how does your family or organisation remain on track to achieve the planned objectives in your strategy? The school fees or car for your child when they start university, or the trip to Qatar to watch the soccer World Cup. What will be your family\u2019s saving grace?<\/p>\n\n\n\n

This is when life insurance becomes your family\u2019s greatest asset. Life insurance pays out a lump sum of cash and this cash is generally reinvested in assets that will continue to provide for your family\u2019s ongoing needs. This is why we say life insurance is your second<\/em><\/strong> greatest asset while accumulating financial capital or assets. Every household\u2019s financial needs and goals differ. We help you thoroughly plan for any financial goal. Reach out to us to get a solid financial plan in place or to review your existing plan. Drop us an email on info@wealthymefs.co.za<\/a> or visit our website for more information www.wealthymefs.co.za<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

For millions of people in our country, their greatest asset is their ability to create wealth and earn a living. Your ability refers to the life in your body, your soundness of mind and the physical strength to perform work. As human beings, we live in an ecosystem where we are required to create value… Continue reading Life Insurance is your second greatest asset while accumulating financial capital or assets. Can you guess what is the first?<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":8096,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","wds_primary_category":0,"footnotes":""},"categories":[10,22],"tags":[],"class_list":["post-8076","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-wealth-protection","entry"],"yoast_head":"\nLife Insurance is your second greatest asset while accumulating financial capital or assets. 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