What is your biggest asset?
Is it your $30K Car, your House valued at $800K or the Contents inside your home worth $120K?
The answer for many people I speak to is that it is their house.
The answer is conditioned upon us from an early age as we are taught that the biggest purchase we will ever make is to buy our own home.
However, the answer is incorrect.
The correct answer is You. You are your biggest asset!!!!
That is your biggest asset is your age and your income.
The example shown in the graph above illustrates the total earnings of a person who earns $100,000 per annum and who has 25 years of working until retirement.
You and your ability to earn an income of $100,000 each year for 25 years in this instance equates to $2.5 Million. That is a very valuable asset!!!
Now that you know that You and Your Income are your biggest asset.
Let me ask you another question
Seeing as you insure your car, your house and your contents………….
Do you think You are something we should insure?
Absolutely, positively, Yes!!!!!
Why insure yourself though?
A morbid statistic…
Did you know that 92% of Australians will suffer from either Cancer, Heart Attack, Diabetes or Stroke in their lifetime?
So, if 92% of us suffer from one of these conditions in our lifetimes, isn’t it worth insuring against?
The Answer: Yes.
92% of us (myself included) are statistically going to suffer from atleast one of these conditions which can either take us out of the workforce for a period of time or in a worst case scenario, end our life.
So, by setting up adequate income replacement insurance, life/TPD and possibly trauma cover, you are protecting your family and insuring that you and your family reach your goals even if something were to go wrong.
So, why not do something about it today?
Speak to a licensed financial planner today here at Edge7 Financial to insure your family is protected and to ensure that you and your family can achieve all of your goals even if something were to go wrong.