How Fragile is Your Income?

Most people do not realize how fragile their income is until it’s too late. Whether they are employees or self employed, most people can lose their income in a blink of an eye. An injury, disease, down economy, company buyout, natural disaster, etc... can destroy the income of most people, including professionals, small business owners, manual laborer, admin to athletes.

We hear about professional athletes all the time having career ending injuries, but what about the average worker. A friend of mine who owns and drives his own limo recently was involved in an accident in his limo. He was instantly out of business with no income.

Another friend a few years ago who was a survey technician and a diabetic, passed out while driving and was severely injured when he ran off the road and hit a culvert. While he survived for a while, he was never able to work again and his income ended.

How about all the businesses that were destroyed in superstorm Sandy? Employees lost jobs, business owners lost their businesses. Incomes came to a stop. Can it happen to you?

So what am I getting at? If you do not have a way to immediately replace your income, it can be devastating. If you can afford to put enough money away right now, you could start  an annuity that would replace your income. For most people that is not an option because the initial cost of a large annuity. You could pay for disability insurance, but that only pays for disability. You could save enough money, but that takes time and a lot of money.

Some people have found a way to continue getting paid even if something happens that would normally end their income producing activities. One of my cousins a few years ago got cancer in her early 30’s. She had two young children and spent a tremendous amount of time over the course of several years in and out of the hospital. This would be devastating financially for most families because of work missed for both parents to continue raising kids and having the time to be with the one going through the sickness. However her husband, Tom, had developed a six figure ongoing income part-time that would pay him the rest of his life while he continued to work as a roofer in his 20’s. When they went through the sickness together, he had the time and the money to keep going during this difficult process and spend all the time he needed with her until her final day.

If you would like to know what Tom did as a 23 year old roofer to develop an ongoing income, complete the form below and I will send you the information.

First Name
Last Name
Email

Email Marketing by TrafficWave.net