Security comes in many forms, but the lack of a financial security net is considered one of the biggest stressors in our everyday lives. Money doesn’t make everything better, but sometimes it does give a better peace of mind.
Put simply, the best way to get yourself out of a financial hole is to dig yourself out… with a shovel made of money! Money can act like a get out of jail free card, because it gives you options. The more options you have, the more likely you are to make the right decision.
[This post contains ads] The thing that puts most people off is that it’s a game of uncertainty. You know that you have to put money into the safety net but you’re not sure you will ever need it.
The market is always the first place you should stop off to find yourself a good safety net. One investment option you should consider is a government issued bond. Government bonds are more stable than any other kind of bond.
Although the yield is smaller in proportion, they are far more likely to attain their desired goals. Some bonds promise you a yield of a certain percentage but may never come through on it. Government bonds are just that, backed up by the government and since the financial reputation of a country is on the line, they are far less likely to take stupid risks.
For the reason of having lower risks, pensions and the property market are often used as the fuel to power these government bonds, resulting in a much more stable and predictable return for your investments.
It can quite a harrowing experience to lose a loved one suddenly. If planned correctly, you do have a lot of options in the event of a sudden death or even losing your own life. You can leave behind a safety net to your loved ones in the form of a life insurance plan.
The money you pay into life insurance policy is accumulated and sometimes matched by the company upon death. Therefore, your kids and partner can continue to receive this money either in monthly installments or in one large lump sum.
It’s only in the event of the loss of life (not an injury) that a life insurance policy pays out, so pick your plan wisely. You may want to read carefully through something like an life insurance guide prior to picking your policy or company.
Everyone craves a safety net for if and when they become financially vulnerable. Only you can make it happen, even if it is hard to find the money in the budget right now, you need to start making sure your family is taken care of and the financial stresses are finally able to ease up.
Leave us a comment on how you have created a financial security net for your family and in the meantime, check out these resources from Amazon –
Yes, I include affiliate (ad) links in all my blog posts, however it is only with companies and products I highly recommend. I receive a small commission if you buy through my links, so thanks in advance! Lydia Y-S