Posts Tagged 'job change'

Learning the business

I’ve spent the last couple weeks learning the business of financial advising/financial planning.  The best part is that I am certain I made the right career choice.  This is definitely the way I would like to help people.

The main thing I’ve learned about so far is insurance – life, disability, long-term care – and how it fits into a financial plan.  I’m shocked at how easy it can be to protect your family, home, income, etc. from catastrophic circumstances, and how relatively inexpensive it can be.  If I’m a professional making $125,000 per year, why wouldn’t I want to spend a little every month to know that, if I were no longer able to work for some extended period of time, I would still receive an income.  However, most people look to put this money into an investment account first even though it will take decades to have enough in investments to provide the same protection as they would have from day one.

It was also a little sad to hear about long term care insurance, and to think of my grandparents.  My grandmother is now in a wheelchair, and can no longer bathe her self, get around, get dressed.  My grandfather has a nurse come to their house every day from the time she wakes up until she goes to bed.  If he had purchased long term care insurance, he would be receiving money every month to pay for the nurse, instead of depleting his savings.  I will be purchasing LTC for both my parents so my brother and I will be able to give them the best possible care if the time comes that they need full time assistance.

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