Most of us do not have the disposable income necessary to take part in the stock market. At the most we take part in the organization’s 401K program or similar investment vehicle. With interest rates low at present and for the foreseeable future our retirement incomes are taking the hit, lowering our outlook for a comfortable retirement. That is why it is all the more important you take the steps necessary to protect your current lifestyle and investments. Gone are the days we can put our money in a 401K and not look at how our investment vehicle is performing. We can no longer put our money in the bank without a plan for how we will treat our income opportunities from week to week.
Planning is a new skill we must adopt because the environment we are used to living in no longer exists. We have to plan our life like we plan our work. Disability insurance, life insurance, homeowner’s and renter’s insurance are just a few of the investment vehicles needed to protect your current income from the ravages or everyday emergencies. Our bodies regenerate and heal and our houses and cars can be patched together to make it through rough times. Our finances either come in or they don’t. Investing wisely in protective vehicles can act as medical aid for our incomes. Being prepared is worth more than just peace of mind. If you don’t have a written plan for your personal life then you are subject to the emergencies you are likely to face. Take control and make a plan.