Sometimes you just need a hit of espresso to get the caffeine into your system to begin your day to have a new outlook. Isn’t that the way with the pandemic? We begin our day, every single day with a cup of coffee, a latte, maybe you have a caffeinated beverage, maybe it’s a soda pop. Once in a while you just need to have a reset, a reboot, a reconfiguration on your thinking. Over the course of the last couple weeks, over the course of the last couple of months, people have been realizing the importance of having an emergency fund. The unfortunate thing is typically people figure out that they need an emergency fund when they have an emergency. Maybe this is going to be the jolt that you need. Maybe this is the reset. Maybe this is your caffeinated drink to realize that next time, let’s make it a different time. When you get re-energized in your life, when you have an opportunity to get things back to your new normal. It’s time to arrange a plan of action so the next time we go through something that is unexpected, as we do on a regular basis, that you are set and ready to go.
When I look at those clients of mine that have set up a plan of action, that have used the life insurance asset as a way to protect themselves, their family, their loved ones, but also to be able to use it as a place to store their safe money. Those clients that have done that over the years, have not $1,000, not $10,000, many of them have 10’s of 1,000’s of dollars that are liquid, that’s safe, that’s not put at risk that is there in case there are opportunities to take advantage of, but so much more so that’s there, safe, sound, and liquid in the event of an unexpected emergency. Often times people will say, “well, this is different. This will never happen again.” There will be things that will happen again. There always are things that happen again and again and again over the history of the United States, over the history of your life. If you are young, this might seem like a lifetime event. Unfortunately, often times there are repeated once in a lifetime event.
What are you doing today? What will you do tomorrow to prepare yourself, where your money will not be locked in until you are old and retired? What will you do since they always say you should have an emergency fund? What will you do to make certain that that happens? The way to implement it is to put money away month after month after month after month. Not exciting at all, but it gets the job done. And if you are going to that, get double duty dollars. Make certain that you have prepared your life, for your family, for your loved ones through the use of the life insurance asset, but fill it with your safe money that you need to have liquid in the event of an emergency and safe in the event of a unique opportunity that might come your way. What will you decide to do today? Is this your wake-up call?
Thank you and be well.