What Is Life All About? Finance or Insurance?
It is hard to identify what is most important - finance or insurance? We need both to make our lives tick, and they both have one thing - money. No matter if you need to finance or insure something it is going to cost you cold hard cash.
Some of us are forced to choose in between finance and insurance. We need to have health insurance but as that is expensive, we may not be able to finance a house purchase. That means that there are people without the necessary means to invest in pensions and other vital financial options. Also, there are others who choose to invest in a pension and not take out certain insurance policies.
Thinking Outside of the Box When it Comes to Insurance and Investments
As far as investments are concerned, it is a good idea to think outside the box. Many traditional means of investing money are not doing well at the moment. Bank saving accounts are mainly a waste of time. Interest rates are low and putting your money into a bank does not offer very much of a return.
Despite attempts to clean up the financial services industry and make it easier to understand, vital investments such as pensions are still sold on estimated predictions and may not give you the kind of pension that you were hoping to get.
Could it be a good idea to take another look at both investments and insurance?
Saving Money and Investing Money: Investing for a Pension
The sooner you learn how to both invest and save money, the better it is. For instance, instead of having a pension, it is a good idea to invest in real estate or perhaps even gold, silver, and precious stones.
Investing outside of the box is easier than you may think, and you may already be doing so without knowing. The gold and diamond necklace you bought ten years ago, is now worth a lot more than it was at the time. There is no reason why you should not consider any jewelry you buy an investment that can be used as finance in the future.
If you are savvy enough and start saving at an early age, you can probably build up a nice jewelry collection which is worth rather a lot of money by the time your retirement comes around. Look out for secondhand and vintage jewelry which is also collectible as well valuable.
What About Insurance?
There are some insurances that we can’t live without. For instance, you can’t drive your car without some kind of automotive insurance, and you need buildings insurance when you own a home.
You can probably save money on health insurance by financing it a lot yourself. That means you would need to be rather “strict” with yourself and put away money every month to save up extra cash in case you would need it.
Health insurance is often so expensive that many take out low-grade insurance and hope for the best. But, if you started to put away money at an early age, you could build up a pot of money you could use if you need an operation.
It would still be a good idea to pay out for health insurance, but you would not need to go for the top option. Stock and shares could also form part of your own personal private health insurance portfolio. Should you need a hip replacement when you are older, you simply sell some of your stocks and shares.
Allocating Your Money In The Right Place
When it comes to both finance and insurance, it is all about allocating your money in the right place. Maybe it is about time that we taught kids about finance and insurance in school. At the end of the day, both are essential life skills that we can’t live without.
Many parents don’t teach their children about finance and insurance. When they leave school or university, they really don’t know what it is all about. The world has never really recovered from the financial crash of 2008 despite what many politicians would have us think and we are likely to have to live the effects for a long time to come. It obvious we need to learn to understand and appreciate the value of money.
If you would like to make the most out of both your insurance and finance prospects, you should consider taking the matter into your own hands, and try to find alternative solutions to these two common problems that affect almost all of us.
Some of us are forced to choose in between finance and insurance. We need to have health insurance but as that is expensive, we may not be able to finance a house purchase. That means that there are people without the necessary means to invest in pensions and other vital financial options. Also, there are others who choose to invest in a pension and not take out certain insurance policies.
Thinking Outside of the Box When it Comes to Insurance and Investments
As far as investments are concerned, it is a good idea to think outside the box. Many traditional means of investing money are not doing well at the moment. Bank saving accounts are mainly a waste of time. Interest rates are low and putting your money into a bank does not offer very much of a return.
Despite attempts to clean up the financial services industry and make it easier to understand, vital investments such as pensions are still sold on estimated predictions and may not give you the kind of pension that you were hoping to get.
Could it be a good idea to take another look at both investments and insurance?
Saving Money and Investing Money: Investing for a Pension
The sooner you learn how to both invest and save money, the better it is. For instance, instead of having a pension, it is a good idea to invest in real estate or perhaps even gold, silver, and precious stones.
Investing outside of the box is easier than you may think, and you may already be doing so without knowing. The gold and diamond necklace you bought ten years ago, is now worth a lot more than it was at the time. There is no reason why you should not consider any jewelry you buy an investment that can be used as finance in the future.
If you are savvy enough and start saving at an early age, you can probably build up a nice jewelry collection which is worth rather a lot of money by the time your retirement comes around. Look out for secondhand and vintage jewelry which is also collectible as well valuable.
What About Insurance?
There are some insurances that we can’t live without. For instance, you can’t drive your car without some kind of automotive insurance, and you need buildings insurance when you own a home.
You can probably save money on health insurance by financing it a lot yourself. That means you would need to be rather “strict” with yourself and put away money every month to save up extra cash in case you would need it.
Health insurance is often so expensive that many take out low-grade insurance and hope for the best. But, if you started to put away money at an early age, you could build up a pot of money you could use if you need an operation.
It would still be a good idea to pay out for health insurance, but you would not need to go for the top option. Stock and shares could also form part of your own personal private health insurance portfolio. Should you need a hip replacement when you are older, you simply sell some of your stocks and shares.
Allocating Your Money In The Right Place
When it comes to both finance and insurance, it is all about allocating your money in the right place. Maybe it is about time that we taught kids about finance and insurance in school. At the end of the day, both are essential life skills that we can’t live without.
Many parents don’t teach their children about finance and insurance. When they leave school or university, they really don’t know what it is all about. The world has never really recovered from the financial crash of 2008 despite what many politicians would have us think and we are likely to have to live the effects for a long time to come. It obvious we need to learn to understand and appreciate the value of money.
If you would like to make the most out of both your insurance and finance prospects, you should consider taking the matter into your own hands, and try to find alternative solutions to these two common problems that affect almost all of us.
