It’s a family tradition to wear this shirt that is pink and green and have your picture taken. Recently, we had about 55 people that came up to our cabin in northern Wisconsin for a family reunion that had been planned for the last 3 years, but because of the pandemic had been delayed year after year after year. Finally, everyone was together. For those people that had never been to our cabin before, we said there was one requirement during the 3 days that we were together; they needed to wear one of these ugly shirts. I don’t even know how many we have, maybe 15 or 20…we have a whole closet full of them.
What’s the story behind that? When we first bought our property up here in northern Wisconsin, we would go in to town on a regular basis to the local ACE hardware store and one day we saw some clearance shirts. I’d never seen shirts for sale at a hardware store. These were ugly pink and green shirts, and they were relatively inexpensive. I think they were about $5 bucks a piece. So, we decided we probably need some that we could use as coverups and such down by the river. Something to stay warm around the campfire. So, we bought a few. The next time we came in to town the shirts were still there, but now they were $4, so we decided to buy some more. Then the next time we came, they were still there. I think they were about $2.50 per shirt. Over a period of time, we bought all of the shirts available. I think at the tail end, they were about .99 cents each.
So, we have gotten in to this tradition, every time that someone visits our cabin, they need to wear one of these ugly shirts and take a picture of themselves and now there is a gallery on our refrigerator of all of our friends, family, relatives, etc. anyone who has ever come to visit us. They all have worn one of these ugly shirts.
What I want to talk about today is the idea of traditions. Even if it’s a funny tradition like this, but more seriously, traditions that will make a difference in your life long-term. One of the traditions that our family has experienced is the tradition of purchasing whole life insurance. I think about this; when I was 16 years of age, my parents purchased my first whole life insurance policy. It was a very small policy, only a $5,000 policy, but over a period of time it grew its cash value. Yes, it took care of the uncertainty as far as if something were to happen to me early in life, such as death, but more importantly, I was planning on living. It was a place to stash my safe money. A place that would have guarantees, guaranteed growth over time that I could utilize later on. In fact, both my wife and I, when we were young, were given our original whole life insurance policies from our parents and that became the down payment for our very first home.
Over time, I have acquired more policies. Currently, I own 7 different policies with large amounts of cash value that I have utilized to be able to buy real estate. I’ve utilized to be able to grow my business. I have utilized during my life. Hence why it’s called ‘life’ insurance. It’s something that I can use for the duration of my life, but when my life expires, it has this tax-free benefit that is guaranteed to be there even if I live to be 121 years of age. This is not like term insurance that might be there for 10 years, 20 years, but that is not really an asset because the likelihood is that it will end before you do.
Wouldn’t it be wonderful if you had a family tradition? It may be some funny shirts, but a family tradition of being able to build money in a safe way that it will be there for the opportunities that come your way. Also, for the emergencies that might transpire along the way as well: job loss, disability, etc. Wouldn’t it be wonderful if you had that security? There’s so much unknown in the world. What I have found is that tradition works. Now is the time for you to consider your purchase of a whole life insurance policy.
You’re probably wondering that you need more information. How does it work? Where should I go? Give me some examples of how it has played out in peoples’ lives? I invite you to look for my book on Amazon, Barnes & Nobles, Audible, or iTunes, Investments Don’t Hug: Embracing the Life Insurance Asset. If you are ready to begin this new tradition for yourself and for your family, search us out, search our team out, explore our website www.investmentsdonthug.com and lets you and I begin a tradition that can impact your family’s life far, far, in to the future, generation after generation.