Our Life Map - 3 Significant Stages, 4 Major Problems
3 important stages of life
Stage 1 Dependency period
From the day we were born, until we started working, it is recommended that we have protection for our medical bills and having some necessary protection. This is because the premium is relatively cheap for younger and healthier people. More importantly, having basic security is like a protective net for our life; the sooner you have, the better.
Stage 2 Hustling period
When we entered the workforce, we tend to become independent; most of us will go through the stages of life such as marriage, childbirth and purchasing our own house. During this period, it is the time when our income and expenditure are increasing, and it is also the time when family responsibilities are the heaviest. Besides having sufficient family protection and children's education funds, we should start planning and preparing for our future retirement.
Stage 3 Retirement Period
When our children become an adult, our family duties will come to an end. During this period, besides having sufficient funds to support our everyday needs, the most important thing is how we pass on our assets of a lifetime to the next generation (legacy planning, will and trust …etc).
4 big problems in life
Question 1 Interruption of income
Concerns about medical expenses and living expenses interrupting our income due to illness or accident.
Question 2 Died too early
The economic situation of the family members left behind due to illness, accident, and death is in trouble.
Question 3 Disability, chronic disease
Due to chronic disease or accidental disability for many years, the pressure caused by the need to bear medical expenses and the dilemma of having no income for many years.
Question 4 Living a long life
The problem of economic needs extended by longevity.
So how can we solve this?
Do not allow these problems to bog you down. We might have to go through these stages in our life. However, there is always a way to plan. We must firmly believe that if we take action today, we can solve as many obstacles that are coming in our way.
Kindly contact us to find out today.