Wealth Protection is an area often neglected in lieu of Wealth Creation. Without an iota of doubt, Wealth Creation by doing smart investments is definitely important. But what use is it if there is an imminent risk of losing all that you created over your life time – in a span of, say, a few months?
Health Insurance is one such aspect of Wealth Protection – where most of us feel that either we are already protected enough by our company group insurance policy, or God will always be too kind on us and nothing is going to happen to us while we are in our prime age. Can we be further away from truth? And all of us see and hear enough examples around us everyday, which contradict this basic assumption of ours. Just closing our eyes is not going to make the risk vanish. A smart wealth creator, like a smart project manager, manages the risk of health by ‘adequately’ covering this risk associated with it. Cover your risk before it is too late.
It was a sever heart attack. He was fortunate to have survived. He is 31, my ex-colleague, working in an MNC in Gurgaon, and highly successful – or seemingly so. He has a beautiful daughter and a very caring wife. All his 3 arteries were more than 70% blocked. Bypass was the only option. When he came home, his corpus was down by 25% – this in spite of having a group insurance policy from his employer. Other than the emotional setback as well as lifelong constraints on his lifestyle habits, it is going to take him another 4 years of hard work – just to claw back his portfolio to where it was prior to this incident. You may say he was unlucky. No. He was not a smart portfolio manager. A smart manager will always cover the risks to his or her portfolio.
And if after reading this, you have been thinking that it may have happened with him because of his workplace stress, and that you don’t take that much stress at your workplace, let me tell you that the food you eat, the air you breathe, and the water you drink have become toxic enough to cause such, and many more dangerous diseases even if you are leading an absolutely stress free life. It is www.cbdboss.us, but true that we are living and consuming such toxicity. Who will be the next one – is just a matter of chance.
Hope for the best, but prepare for the worst – that is how we used to plan our projects. that is how exactly you ought to deal with your life. I sincerely hope you lead a healthy and prosperous life, but I earnestly urge you to be prepared in case of any such eventuality -for it is a definitely reality in our so called developed world.