Everyone has their own definition of wealth and being rich. Money is very personal and everyone has different goals, so it makes sense.
Here is a different definition of wealth for you: wealth is the total number of days that you can continue living your current lifestyle without having to work.
I use this definition with clients frequently. How many days is it for you?
When it comes to a full financial plan, it is very easy for me to help my clients create instant wealth. Now that I have your attention, I hope that you continue on reading to see how all of this works together.
To create instant wealth, you need to have 3 different policies. Disability Insurance, Critical Illness, and Life Insurance. Here is why they work to create instant wealth.
1. Disability insurance protects your income in the event you can’t work due to illness or injury (depending on the coverage you purchase). If you are an employee, you might have a limited form of disability through your employer, and if you are self employed, you definitely need this because WCB just won’t cut it. If you can’t work, your disability is going to kick in and you are going to receive an income, hence, instant wealth.
2. Critical Illness also protects your income if you were to get sick. Plus, depending on the illness, there are often a lot of expenses that people don’t think about until they have to pay for it. It can be expensive! Time of work, additional expenses, possibly a change in lifestyle. With this policy, you get a payout to help with those expenses, hence, instant wealth.
3. Life insurance can be used in a couple of different ways. It can be used as an investment account, which is great because this starts to build your wealth, tax free, until you have enough and don’t need Disability or Critical Illness. Or it can just be used as a wealth protector for your family in the event you pass away. I had someone tell me once that they didn’t need life insurance because they weren’t going to die. I’m not sure how they became immortal but I did immediately exit the conversation. I wasn’t sure if they were a vampire or something, and although being guaranteed a long life is awesome, I’m not sure about immortality and didn’t want to take the risk of being in the presence of an immortal for too long. It never ends well in books or movies so I wasn’t taking my chances.
With these policies set up and your financial security in place, I also set up some investments for you. This is to not only grow your wealth but to create another income stream and riches. The average “wealthy” or “rich” person has multiple income streams. I help my client create 3 different income streams, and then the rest is up to you. Actually, it’s all up to you, I just help facilitate it and help you get their faster and immediately.
These aren’t “get rich quick” schemes. I hate to tell you, there is no such thing. These are good financial wealth building habits, and the better your habits, the more your wealth will grow.
As the old saying goes, “when you change the way you look at things, the things you look at change”, hopefully this changes the way you look at various financial planning strategies, what wealth means, and that you have the ability to control it all.
I am looking for people who want immediate wealth. Is that you? Or do you know someone who does? I would love to get together and talk about how I can help make that happen right away.