FINANCIAL LIFE BUILDER. Money is the answer for everything, says Ecclesiastes 10.19. You may be super spiritual and disagree with this, but there it is–stated by God Himself in Ecclesiastes. So, it’s always wise to aim for financial prosperity which should be started now.
The earlier you do this, the better. Say, at age 30 or 35.
Fact is, it’s part of a healthy spiritual life. Poverty is not God’s will so it can never make you healthy spiritually.
Key to financial prosperity is retiring rich. And by “retiring” we don’t mean reaching to 65 or 70 before you can afford to retire. The earlier the better. I mean, the earlier you retire from your mundane concerns, the earlier you can be full-time with God in the physical realm. And that’s the point why you have to retire early and retire rich.
And the earlier you can enjoy life to the full with your loved ones and do what you really love doing in life. So here are 2 easy and practical steps to retire rich–and make your loved ones richer when you’re gone.
- Save 10 percent of your monthly income. If you’re making P20K a month, save P2K a month. Save it and forget about it so you won’t be tempted to take it back and spend it.
- Put the money in investment and life protection. Here’s an investment product I heard about which is good for this purpose–investment with life protection.
Investment with Life Protection
It’s easy. For a life insurance coverage of, say, P350K, you pay a premium of less than P2K a month or about P5K per quarter or about P22K a year for 10 years. With that, you have an accidental death insurance of about P300K or P350K. If you die of an accident, your family gets P750K. But the insurance coverage of P350K doubles automatically on your demise, so it equals P700K, plus the accidental death of P350K. That totals more than P1M. That definitely makes your family richer.
But let’s not just talk about your exit. How about when you’re still alive with your family?
This insurance has investment. You can enjoy the profits while you’re alive. After 5 years of paying, you can earn more than P35K from your investment–or even much higher. After 10 years it can grow to more than P100K. If you decide to just let it grow beyond 10 years, it can earn more than P300K in 20 years–or even much higher, depending on the performance of the investment.
Now, if you started doing this at age 30, you earn more than P300K at age 50. At that age with that money, you can start your own business and retire early. If you die at that age, your family can get more or less P1.3M. If you die before the 10 or 20 years are over, your family gets the entire insurance face amount. And insurance money is always tax free.
If you’re interested to know more and you live somewhere in Metro Manila, just contact us.