Wait Until The Worse Happens

While listening to my favorite podcast "Cup of Nurses" (check it out. Thank me later) episode #134 with David Metzger there is a moment that is brought up at the 40:05 mark which inspired this article.

The culture that we have today based on consumerism is purely focused on getting something. Getting something better next. Getting something bigger next.

What our society has a terrible time doing is truly appreciating living moment to moment. Embracing what you are doing right now.

Now it takes losing someone to bring back all the greatness you had with that person. The child lost early due to cancer. A person tends to want to ask "why is this happening to me?" Instead of appreciating what you have now and how fortunate you are.

Being self centered has to all of us. Its natural.

Where this hurts us most is preparing for unexpected events in out lives.

Do you have a private reserve? That is a fancy way of me saying do you have a savings plan? Not an investment account. A savings plan- meaning access to cash if you need it for a variety of things; roof replacement, muffler repair, a nice dinner for the family, an investment property that could net you $321 per month.

Having a savings plan eliminates the need to use credit cards and keeps money under your control.

Now what happens if there is a disruption to your income thanks to a back injury, or lymphoma (was watching Dick Vitale which is why I wrote this during this post)?

Sure, you might have waiver of premium for your life insurance but that's not going to pay the bills for a prolonged period. What portion of your income would you like your family to keep receiving while you recover from the injury or ailment?

People will want to wait. They will put it off until the moment they need something. In this case waiting could cost all of your savings and selling off assets. Is that the plan you have in mind?

Waiting is the most expensive option.