Skip to main content

Is it really that cheap?

Lets talk about affordability. I will never forget the look on my clients face when I tell them that $1,000,000 term life will cost them as little as $250 monthly. Unbelievable isn't it? Lets compare that cost shall we.

That's less than
- a full tank of gas that will probably last 8 days.
- approximately two café latte per week at Starbucks
- cable bill
- internet bill
- tickets and popcorn for two at IMAX 


 

I guess you get the picture. When we look back at the small amounts we spend on trivial items why not consider how  $1,000,000  would benefit your spouse, children or elderly parent if you were taken too soon.

Comments

Post a Comment

Popular posts from this blog

Common questions about Critical illness

Many people in Trinidad and Tobago are not prepared financially when faced with a serious illness, despite having good medical coverage. When faced with a critical illness usually your income reduces but your expenses increase significantly. Expenses in this case not only includes the cost of health care, surgery, medication and medical consultants but those expenses you had before becoming ill. Critical illness insurance can help lessen the burden of increased out-of-pocket expenses so that you can focus on recovery instead of these expenses. What is critical illness insurance? Evolution in modern medicine has increased the survival rate for conditions such as cancer, stroke and other major diseases. Unfortunately, this has not reduced the growing rate of persons affected by these critical diseases who are usually unprepared financially for the cost associated with recovery. The purpose of critical illness insurance is to help supplement the benefits of traditional medical ...

Early Retirement is a reality

R esist the herd mentality Some people make financial decisions not because it's a good investment but rather because of emotion. Consider basing those decisions on need rather than want. Just because everyone's doing it doesn't mean it makes sense. Be content with less Small lifestyle changes can lead to massive savings. Consider eating in and being efficient when spending your  money. Stay the course Educating yourself financially and putting your plans to paper will help you track spending and cut cost. Even if your income stays constant more funds can be directed toward investing. Put your money to work While an increase in salary or back pay may trigger a shopping spree for most of us why not invest surplus  income as this could eliminate any spending temptations. Cut back on large expenses The average Trinidadian spends the bulk of their money on three things: housing ,transportation and food. As controversial as it may be consider cutting back on...

What do you want?

I remembered sitting in school as a young child visualizing what I wanted to be when I grew up. Little did I know that life doesn't always go according to your plan. there are bills, rent, mortgage, school fees, car payments and grocery bills that keep increasing month after month. After giving it some thought I've come to realize that everyone basically want the same thing: 1) to protect their children and love ones from poverty 2) to maintain good health and ensure money is available if they do become ill. 3) to have adequate savings "although saving might be an issue" 4) most  people want to retire early with a comfortable pension With over twenty five years experience in the financial industry , I have decided to share basis financial advice that can be used to take you through this difficult economic climate.