Dead or Alive?
No, this isn’t the intro to an 80’s Hair Metal jam and I’m not Jon Bon Jovi – though with the close proximity to my favorite holiday, Halloween, I may or may not be wearing eyeliner while I write this!
Despite the ambiguity of the first two sentences I’ve written, this article is about your financial life and whether you are worth more dead or alive – financially speaking.
There really is no right or wrong answer – and though I strongly dislike using this phrase, at this time: “it is what it is.” Or is it?
You see, there is generally only one way to be either of the two choices and only you have the power to determine where you’ll be financially moving forward.
I’ll touch on both of these below:
Worth more dead
– You’ve worked and worked but haven’t saved a lot during the course of your working years.
Perhaps you had an extremely fun (and expensive) lifestyle and saving for a rainy day, i.e., retirement, wasn’t at the top of your agenda.
Maybe that’s not ideal financially, but hey, it’s your life and to each their own.
You may carry some debt and are probably living paycheck to paycheck, more or less. Don’t get discouraged; help is on the way!
Worth more alive
– You’ve worked and worked and saved and saved and now you’ve amassed a very nice retirement nest egg for yourself.
Your life may not have been quite as exciting thus far as your “worth more dead” counterpart, but unlike them you’re flush with cash, have very little debt, and have the financial freedom to make some very exciting decisions in your future! Give yourself a well-deserved pat on the back!
Your life may not have been quite as exciting thus far as your “worth more dead” counterpart, but unlike them you’re flush with cash, have very little debt, and have the financial freedom to make some very exciting decisions in your future!
Give yourself a well-deserved pat on the back!
At this point you’re probably thinking, “What in the heck is this eyeliner wearing, Bon Jovi listening to, Hair Metal band wannabe, Financial Advisor talking about, and how does this nonsense pertain to me?!”
Well, if you’re like most of our clients at CreativeNurse, you either care greatly about your family, greatly about yourself, or more often than not, about both.
What you can/should do:
If you fall into the “worth more dead” category, it’s not too late to join the more sought after, sexier choice that is the group of individuals who make up the “worth more alive” category.
All it’ll take is a little self-discipline, a little bit of cash, and most likely advice from a financial professional that understands your particular situation.
You’ll be well on your way to being worth more alive, which is certainly a better alternative!
In addition to taking care of yourself financially, you probably have loved ones you wouldn’t mind making sure are taken care of while you are still worth more dead.
In addition to investing and getting on the right track, applying for life insurance (approval is subject to medical underwriting) to protect your loved ones in the interim of where you stand today financially and where you’ll be after creating the new financial you might not be a horrible idea.
After all, you care about you and you care about them!
If you fall into the “worth more alive” category, you may be well on your way to enjoying the fruits of your labor in retirement.
Because you’ve already discovered the path of wealth accumulation, you realize the importance of saving and may not need help with the disciplines that involves.
What may be of interest to someone in your financial situation is to think about the finer nuances of investing, which may include but are not limited to portfolio and taxation diversification (please, consult a tax professional).
Though you may or may not feel the need to “bridge the gap” between where you stand today and becoming even more financially sound as you continue to save, you still care about your loved ones.
The most powerful way to create immediate wealth for your loved ones outside of consistent investing over long periods of time is to purchase life insurance.
Life insurance creates an immediate estate that cannot be rivaled by any means imaginable when referring to a policy’s applicable death benefit.
Besides, you are saving for you – not others – and you love yourself just as you do your family.
Life insurance solves the common dilemma so that you can spend your money in retirement the way you want without feeling guilty about what you are leaving behind (or lack thereof) monetarily to those who mean the most to you.
So, which category do you fall into?
Dead or Alive?
Regardless of your response, investment planning for yourself and legacy planning through the means of life insurance protection for your family are areas where a financial advisor can help you out.
At CreativeNurse, we’ve devoted our professional lives and expertise to helping nurses such as yourself. Let us help you get on the right path so we’re sure you’re not worth more dead, but alive!
Written by Jason Frederico CreativeNurse Team member in Las Vegas
2016-30974 Exp. 10/17