Generally Warning bells Ring for us when there is warning of trouble and the need for action is found. Certain common scenarios have been covered in this article which I am sure everyone can relate to . In which situation does your Warning bell Ring….
- You wake up one day and realise that your best friend who is of your age gets a severe heart attack .Both of you decided not to take health insurance separately as your employer was providing the same. Due to certain circumstances, he left the job and did not realise the need of health insurance. The reason that he gave was I am young, fit and fine, I don’t require Health Insurance. Now he will face complexities in securing Health insurance cover.
- One Fine Day, you go to office for work as usual and you find the termination letter on your table . The company has decided for some layoffs. At that time you realise you haven’t built your emergency fund as you promised your spouse to do . That very moment a flashback of all expenses passes your mind, your household expenses, kids’ expenses, EMIs and many more. This is because you never thought that this day will come and all you thought was your job is secure.
- Whenever you see an Ambulance zooming with its siren on or may be a Hearse Van, you tend to become humble and gentle that this day will come in my life as well. From the smallest to the greatest, from the richest to the poorest, everyone eventually dies.You start visualising your family member’s lives after you are no more in this world., There was a joke getting viral some time back “ A good insurance agent is one who sits with your wife and sells a policy by explaining its benefits after you are gone” The best we can do is provide them with enough corpus that they can atleast sustain their current lifestyle irrespective. No one can Replace you but you can protect the ones who need you.
- One day while playing your 5 year old daughter tells you “ I want to become doctor” and then she innocently inquires, “will I be able to become a doctor, I know it requires a lot of money to become one.” You tend to realise you haven’t planned for her future, You haven’t planned for her education, her Dreams.There is a lot to be done on that front.
- You find out that one of your relative has passed away and his family members are running from pillar to post as there are no nominations, they don’t have all the requisite documents with them, and also it is no Big deal that they might not come across the investments made by him during his lifetime as he never bothered to consolidate everything at one place and never told his family members about his investments, assets, insurance, Bank accounts etc.
The idea behind this post was not scare you but for you to sit down and have a Reality Check.
“The amount of time you revel in wonderful moments of joy, contentment, inspiration, laughter, love and learning will be directly proportional to your health, happiness, success, satisfaction, productivity and fulfillment!”
Martin Luther King Jr. said, “The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy.”
About the Author: Gurleen Kaur is a Financial Consultant and devotes her time to her company www.hareepatti.com. She has done her Bachelors in Finance and Investment Analysis(BFIA) from College of Business Studies(CBS, Delhi) and MBA from IMT, Ghaziabad. She will be a Certified Financial Planner by June 2014. She can be Contacted at gurleen@hareepatti.greatestdesignever.com