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Paul Harris Financial
Whenever it comes to insurance, many individuals will not take out more than they need to or any at all if it is not required by law. Most people think that insurance is not something that they need. However, insurance very well could be the thing that protects your short and long term finances. While it may not reap many rewards the day you pay for your premium, every insurance policy you purchase is protecting your financial future.
Consider the following scenario. You have an impeccable driving history and have never been in an accident. Your car insurance happens to be up for renewal, and you decide to save a few bucks each month by decreasing your car insurance to the minimum state requirements. Afterall, you have never needed it! The very next day, you are in the worst accident your neighborhood has ever witnessed. Your lesser insurance policy does not cover all of your medical costs. Oh, and you were hit by an uninsured driver, so many other costs will never be repaid to you.
If you had known this information on the day you had decided to decrease your policy, would you have made the same decision? Of course not! With less insurance, you will be in debt for years (if not decades) to cover the costs of a new car, medical expenses, and any property damage. The decision to decrease your insurance was meant to save you money, but it did the exact opposite.
While this is a drastic example, it shows how vitally important insurance is your financial future. A less extreme example is cell phone insurance. If you lose your phone out after a night out on the town or simply drop it, your cell phone insurance can save you from spending a thousand or more on a replacement model for your latest smartphone.
Every decision you make is ultimately a financial decision, even if it does not seem like it at the time. One of the best ways to protect your financial future is to consider how every decision can impact your finances and retirement tomorrow, next month, and even in the next decade. If you need any help considering your options and creating a plan for financial success, consider reading my book. You can download If I Wake Before I Die by clicking the button below.
My book is dedicated to helping open your eyes and taking control of your financial future. As always, we encourage you to contact us if you have any questions for our financial planning firm. We are dedicated to helping you achieve your financial goals!
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Securities offered through Triad Advisors LLC. Member FINRA/SIPC. Advisory services offered through Capital Cities Investments. Capital Cities Investments and Paul Harris Financial are not affiliates of Triad Advisors LLC.
Paul Harris is licensed and authorized to conduct life insurance business in Florida. He is also licensed and authorized to conduct securities related business in Florida. This website is in no way to be construed as an offer for the sale of insurance or securities products in unauthorized states or countries.
Paul Harris Financial
4560 Via Royale Suite 4B
Fort Myers, FL 33919-1076