Friday, May 6, 2011

5 Ways to Enjoy Your Money

Yesterday, I gave a short sharing on Variable Life Insurance. By doing so, I
touched a sensitive chord for some of you. A good many Filipinos loathe the
word insurance. Why? Insurance forces you to think about death --- not a very
pleasant topic. Did you know that Traditional Life Insurance is a noble thing?

It will financially help those you leave behind. However, if you prefer
to hear practical over noble, Variable Life Insurance just might interest you.

So what makes Variable Life Insurance different from Traditional Life
Traditional Life Insurance is purely money set aside for your family.
While Variable Life Insurance has an insurance component and an investment
component. The insurance portion ensures that your family will be getting
money in case of your demise.  The investment component ensures that you
have a source of funds; the value of which is based on the investment
performance of the insurance company. Think of it as you using the insurance
company to be your broker.

Here are the different reasons H and I have availed of different Variable Life
Insurance plans. Better yet, think of it as ---

5 Ways to Enjoy Your Money:

1. Education Fund
- If you have a child, you've probably thought about your child's college
education. Sadly for some parents, it has moved from 'What's the best school
for our child' to 'What's the school we can afford'. The tuition fee costs are
really no joke! Thus, expect H and I to use one Variable Life Insurance
policy for M's university school fees.

2. Retirement Fund
- One day we just might decide to go into teaching, mission work, community
development, farming, etc There may or may not be money in these endeavours.
But we don't want money to be a hindrance to doing what we want to do. So,
we can use another Variable Life Insurance for day to day expenses.

3. Renovation Fund
- We've seen it happen. Old houses that suffer neglect because their owners
did not set aside money for their maintenance and upkeep. We told ourselves
we want to be able to renovate our home when the time comes to do so.
Where's the money going to come from? You guessed right, another Variable
Life Insurance.

4. Bucket List Fund
- H and I haven't decided on this yet. As advocates of simple living, we've 
trimmed down our wants list. There are fewer things on the list --- but
they've actually turned into Precious Few. Top of mind: a trip around the world! 

5. Emergency Fund
- This is the fund that we hope we never have to use. If we had our way, we'd
be strong and healthy until we're old. Calm, peaceful and while asleep sounds
like a good way to go. But if we ever needed funds for something, we'll surely
be glad there's money kept away for that.

I'm sure you can think of other ways to enjoy your money. Remember that
it's free to dream! As for living the dream, that's even better. 

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