Protecting
If misfortune strikes then your life and wealth creation journey will be interrupted, sometimes severely. Learn how to erect a robust safety net under your lifestyle and live with peace of mind.
Should you prepay private health insurance?
Is your income above $84,000 as a single, or combined income above $168,000 as a couple? Do you also have private health insurance? Then you should consider this opportunity before 30th June. Effective 1st July this year (2012) the Federal Government is reducing the private health insurance rebate for singles earning above $84,000 and for [...]
Freedom to be by their side with Children’s Trauma Insurance
Parents – please resist the natural urge to avoid this article because you don’t want to think about the topic. The tool I share below could save you considerable stress if misfortune strikes your family. What would you do if your child suddenly and unexpectedly became seriously ill? If something happened to Sophie or Isaac [...]
Women: a great little reminder from a hot guy
And after you’ve finished checking your breasts check if you have protection from the financial consequences of a serious illness like breast cancer. The key tool is trauma insurance, which pays you a lump sum on diagnosis. You can use the lump sum to: Help fund out-of-pocket costs for medical treatment Give your partner time off [...]
National Identity Fraud Awareness Week
This week is National Identity Fraud Awareness Week. Last year I wrote a detailed article on how to protect yourself from identity theft. The article also shares the story of how my sister was defrauded of $2,000. This year the Australian Federal Police have published an excellent survey to test how well you protect yourself against identity [...]
What to do if massive world change is coming
“Perhaps the developed world is about to experience massive structural change”, mused my mate as we discussed the global financial situation recently.
In truth no-one knows what will happen.
The great news is that the actions which prepare you to survive a massive change also position you to thrive if instead a boom arrives. So irrespective of your personal forecast it is worth implementing these suggestions.
Is this a scam?
Smart scammers try to make themselves appear legitimate as a way to suck you in. Before doing anything check the ASIC list of companies you should not deal with.
Crazy ways it could happen to you
Most of the time most of us have our wits about us and therefore don’t get injured. But it only takes a momentary lapse in concentration or a ‘brain freeze’ moment and injuries or even death can occur to smart, cautious people. Following are some statistics I come across of crazy ways that people got [...]
Be prepared to lose your job
Whilst there’s not as much doom and gloom around now as there was during the global financial crisis (GFC) of 2009 the world hasn’t returned to over-brimming confidence. Recent natural catastrophes plus instability in the Middle East have dented the return to confidence. Don’t worry – I’m not dragging out my dusty crystal ball and [...]
Pet insurance
Do you love your pets so much they are considered family members? How far would you go if your pet got sick? Fellow financial educator Scott Pape, The Barefoot Investor, loves his dog Buffett. Recently Buffett was bitten by a tiger snake and required urgent medical treatment costing $5,000. Read Scott’s story here. In the article [...]
Flood insurance
The flooding in Queensland, New South Wales and Victoria has highlighted to many the devastating consequences of natural disaster. For many the likelihood may be low but when the consequence is so high it is worth considering the plans you have in place to protect your family’s lifestyle and dreams if misfortune strikes. Insurance can [...]
When the best policy is actually necessary
In November we decided to replace our second car after the old one was sentenced to death row during a regular service. In researching new (small) cars I noticed that many of the modern popular features are not available in the base/lower versions of several models. You need to buy the higher version to get [...]
Protect yourself from identity theft
Two months ago my sister, Julia was the victim of identity fraud. Two thousand dollars quickly disappeared from her bank accounts before she detected it. This week is National Identity Fraud Awareness Week (NIDFAW), so I encourage you to consider how you may be placing yourself at risk of identity fraud. Then act to prevent [...]
Centrelink won’t save you
When I talk to people about the importance of erecting safety nets under their lifestyle I am often countered with “won’t I be able to get Centrelink?” Centrelink is social security not social comfort nor social choice. Theoretically social security is to keep you above the poverty line if misfortune strikes. But many who rely [...]
Four types of life insurance
Insurance is a tool to help protect your lifestyle and wealth creation if misfortune strikes. This article provides a brief overview of the four main types of personal risk insurance. Commonly these are referred to under the umbrella term of “life insurance” but they each serve distinct purposes. Think of each type as a different [...]
Tragedy strikes around 20 percent of working families
Many people overlook personal insurance thinking tragedy will never happen to them. Then a friend or family experiences tragedy and they get a wake-up call. The latest research released yesterday by Lifewise/NATSEM reveals that it can and probably will happen to you at some time during your working life. More than one in five families will be impacted by an insurable event in their working lives.
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