GoFundMe or Insurance Protection?

What would you choose?

I shared an eye opening article from the CBC of a couple in Calgary a few years back. This article still resonates today.

We all love our families, we care for them and we would do anything for them. However there are events in life which throw our love for our families into turmoil. If only I knew then, what I know now, I would have definitely changed many thing when I was younger. I see more and more people starting up GoFundMe pages for their families, their friends and even colleagues. Why? Well let me start with a little financial story, that most people don’t know.

 

The Money Game

Money is a game, and the rules of the game are equal for everyone, just that we don’t take the time to learn the rules. We are also not taught the rules in school, we usually get bits and pieces from our parents, families and/or friends. Also, most of us don’t even have a plan for where we are going or even someone who is knowledgeable to help coach us in the right direction.

How does this tie into this topic, GoFundMe or Insurance Protection? It all starts with the dream of owing a home. The first step is to put that dream on paper and create a plan. Once the plan is in place, we start building. The most important step in the building process is building the foundation of the home. Without a solid foundation the house will crumble. Financial independence works the same way, you need to build a financial house. Your financial house begins with a dream, putting a plan in place and then starting to build your financial home from the foundation up. If you don’t have a solid foundation, your finances will crumble.

 

Financial Foundation

What is the foundation to your financial home? It’s income, without income, well you can’t buy anything, you can’t save, you practically cannot do anything. That foundation needs protection as there are 3 threats to your financial foundation and they are: disability, illness and premature death. These threats are not predictable (just like a flood or cracks) and if you wait too long to protect your foundation from these events, well that’s were you fall into a place where you now need financial help…cue in GoFundMe.

 

Don’t wait!

Get protection now, don’t wait until something happens to you or your loved ones! Once something happens, it’s possible that you will not be able to afford the coverage or worse you will not eligible for coverage. There are many different products that even offer a return of what you invested should you never have one of those unfortunate events. Ask yourself this question, would you rather have something in place that can take care of your loved ones or would you rather have them scrambling to ask for money? Don’t wait for the inevitable take action today!!

– Anthony

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