If you have a family, chances are, you need life insurance!
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Welcome to the Enjoy More 30s Family Finance
Voiceover Audio:podcast. The only podcast dedicated to making life more
Voiceover Audio:enjoyable for young families by hitting on the financial topics
Voiceover Audio:that tend to weigh on us, stress us out, and distract our focus
Voiceover Audio:from simply enjoying life.
Joseph Okaly:Hello, and welcome to the Enjoy More 30s Family
Joseph Okaly:Finance podcast for all those people out there trying to avoid
Joseph Okaly:being financially secure, well, we have our series for you the
Joseph Okaly:10 Ways To Not Be a Millionaire. Now if you actually do want to
Joseph Okaly:be a millionaire, not to worry, this series isn't just for those
Joseph Okaly:people who are looking for financial ruin. If you avoid
Joseph Okaly:doing these 10 things then you could be well on your way to
Joseph Okaly:millionaire-hood as well. Each week I'll share a quick step in
Joseph Okaly:this how to not be a millionaire process, so you know what to do,
Joseph Okaly:or hopefully what to avoid. As always, before I begin, please
Joseph Okaly:share and like please leave reviews. I'd love to reach and
Joseph Okaly:help as many young families out there just like you.
Joseph Okaly:Today's great tip on how to not be a millionaire is Pretending
Joseph Okaly:You Can't Die. You are young, why should you worry about
Joseph Okaly:death? That's not fun at all! As we covered in Disinterested In
Joseph Okaly:Disability, as a young family, your future income potential is
Joseph Okaly:your greatest asset, and so leaving it exposed and
Joseph Okaly:unprotected is a great way to not be a millionaire. Pretending
Joseph Okaly:you can't die is therefore yet another way to take advantage of
Joseph Okaly:this concept. If you are earning $100,000 now, then with 2%
Joseph Okaly:income growth over the next 30 years, your future income
Joseph Okaly:potential is over $4 million dollars. A huge asset. To have
Joseph Okaly:the best chance of not being a millionaire then that would mean
Joseph Okaly:leaving this huge asset exposed by pretending death cannot
Joseph Okaly:happen to you. Simply don't ask yourself questions like, "How
Joseph Okaly:would my family be able to stay in our home?" "How would my
Joseph Okaly:spouse be able to pay all the bills?" "How would my children
Joseph Okaly:pay for college?" "How would my spouse be able to stay on track
Joseph Okaly:for all the goals we laid out together?" Pretending you can't
Joseph Okaly:die takes care of all of that for you. If you do want to have
Joseph Okaly:answers to all those questions, though, if you want protection
Joseph Okaly:for your spouse and your kids so that they wouldn't have to
Joseph Okaly:perhaps uproot their entire life because of financial
Joseph Okaly:deficiencies while simultaneously mourning your
Joseph Okaly:loss, then there is life insurance. Life insurance can be
Joseph Okaly:through work. Ideally, it can also be outside of work to
Joseph Okaly:maintain direct control on this vitally important piece of your
Joseph Okaly:plan. And if you are young and healthy, a fixed rate term
Joseph Okaly:policy is incredibly affordable. A $1 million policy could come
Joseph Okaly:in at over $100 a month for a healthy individual depending on
Joseph Okaly:their situation. Overall, I think it is more than clear
Joseph Okaly:pretending you can't die is a fantastic way to not be a
Joseph Okaly:millionaire.
Joseph Okaly:Thanks for tuning in today and join us for next week's episode
Joseph Okaly:on how to not be a millionaire, Blowing the Bonus. As always,
Joseph Okaly:please remember to review and share for others. And if you
Joseph Okaly:need any help, don't hesitate in reaching out. I probably have
Joseph Okaly:helped someone just like you till next week. Thanks for
Joseph Okaly:joining me today and I look forward to connecting with you
Joseph Okaly:again soon.
Voiceover Audio:The conversations on this show are
Voiceover Audio:Joe's opinions and provided for general information purposes
Voiceover Audio:only. They do not constitute accounting, legal, tax, or other
Voiceover Audio:professional advice for your specific situation. You should
Voiceover Audio:always seek appropriate advice from a financial advisor,
Voiceover Audio:accountant, lawyer, or other professional before acting upon
Voiceover Audio:any content or information found here first. Joe is affiliated
Voiceover Audio:with New Horizons Wealth Management LLC, a branch office
Voiceover Audio:of TFS Securities, Inc., and TFS Advisory Services an SEC
Voiceover Audio:Registered Investment Advisor, Member FINRA/SIPC.