Welcome to a new year and a new decade! One of the things the Monarch team particularly looks forward to each new year is seeing how our clients have progressed along their financial journey. Life is always throwing surprises at us – some good, some not so good – but when you have a solid financial plan in place, you don’t have to be worried about what the future may bring.
Which brings me to the topic of our first blog of 2020 – what scares you the most? Or, more specifically, what is the worst thing you can imagine? I started thinking about this over the holidays when I came across an article about moving house. In the story, the woman interviewed described moving house as one of the worst two things on earth. The other thing? Getting life insurance!
Seriously? Is taking out life insurance really that frightening? Surely jumping out of a plane is worse? Or even public speaking, which I know countless people are afraid of (my husband Rob excluded, obviously). What about swimming with sharks or being struck by lightning or finding a spider in your car or going to the dentist?
I am here to tell you that there are so many more things in the world that are worse than having to take out life insurance. Especially if you have an adviser to guide you through it. In fact, I think it’s much scarier not taking out life insurance. Because without it, you and your family could face serious financial hardship if (or more likely, when) something bad does happen to you. Imagine not being able to keep a roof over your head because of the cost of life-saving medical treatment. Or having to put aside your child’s dream of going to university because you’re forced to survive on a single income.
On balance, I guess moving house is one of the worst things that could happen to you. But only if you’re moving because you can no longer afford your home, or you need to be closer to the hospital, or need a house that is more accessible to someone in a wheelchair. Then yes, in that case, moving house is definitely scary. But if you’d faced your fears and taken out life insurance beforehand, I guarantee the move wouldn’t seem so scary after all.
So now I want to hear from you. What scares you the most? Take our poll or suggest one of your own answers – I can’t wait to see what the responses are!
Click here for our poll.