A Financial Legacy Requires A Plan B

This is only if you plan to protect your finances and have a plan B approach to your finances. Every financial plan needs a plan B. The ability to obtain money depends on our ability to deliver value. Finding your purpose and pushing it out in the world is your plan A. Starting a business and making investments is your plan A.

You have to focus on your plan A to be bring a level of significance. When it comes to your dreams, there is no need for a plan A. On the contrary, financial plans do require a plan B. This is where anticipation must become a skill of yours. Let’s scope this out further,

John Maxwell’s Billionaire Friend

One of John C. Maxwell’s friend had a significant amount of money tied up into the stock market. John flew into the city to see his friend and have lunch. When he got to the office, his friend seemed distraught and at an all time low. John proceeded to ask: What happened? What’s going on? His friend replied: John, I just lost one billion dollars in the market. Yes, one billion dollars. This is a true story and not the only one. Media never will televise these type of stories.

Having billions or any range of dollars does not negate your human responsibility to insure a PLAN B.

Having more money than you know what to do with can make you seem like the titanic ship. Invincible and far away from financial hardship. Unknown circumstances can really change that. What you see is really not what you see. Nothing is indestructible. What you need to understand is that even the titanic ship has life boats attached it. The life boats represent your Income protection, critical illness, life insurance and annuities. And even so much more. Especially on the business side of things.

Your Health

This is the biggest bill in your life aside from taxes. The number one variable in all of human life. Tomorrow has it own troubles. What you are today can quickly change in health status. You can go from dunking a ball to seated permanently in a wheel chair. You may have excellent health now, but in two years become diagnosed with one of the most major illnesses there is known to man without a cure for it. Health conditions can damage your career savings and assets severely. You could go from having $400,000 dollars play money to $400,000 pray money and end up on the street. What is your plan B financially?

The range of income and assets no matter who you are will be subject to the unknown’s of tomorrow.  We all need to be better at risk management in our lives. Your legacy depends on it.

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