You will always have an excuse not to save or invest.
No matter what your excuse is, one thing for sure.
– You’re going to get old next year
– Your child will grow up and enter college
– You will eventually retire and stop making active income…
You don’t need to save for longterm healthcare now because you still have healthcare from my company/employer.
BUT You need it NOW!
Funeral plan for yourself
Most people focus on linear income in the name of salary, allowances and one-off payments. Wise men on the other hand focus on “passive income” in the name of interest rates, royalties, value addition and profit.
Relying on linear income is similar to using buckets to fetch water from the river. With time, you’ll get too old and too tired to transport them to and fro and that means you’ll have to starve for as long as you don’t go to the river.
Relying on passive income on the other hand is similar to building a pipeline. It might require a great deal of work toward the start however with time, you’ll never again need to go to the river to get water – the river will come to you and you’ll not starve.
This is the most fundamental principal of wealth creation that most (including you) are oblivious about.
1. The best time to save for your longterm healthcare is NOW, especially that you still have healthcare provided by your employer.
2. The purpose of longterm healthcare is to give you peace of mind when you get sick and you no longer have healthcare provided by your employer because you are no longer employed (retired).
3. Most of the illnesses come during retirement years and is the common reason of financial disaster in most families.
4. The moment you delay, you may no longer get approved because of health issues and age. Only ages between 10-60 can avail and get started with the program.
5. LTC is also designed as a savings program. If unused, fund value goes up every year giving you millions of healthcare funds during retirement.
Know more about longterm healthcare and get started as soon as possible.