Pretending You Can't Die | Series 9.6 - Enjoy More 30s: Family Finance

Episode 6

Pretending You Can't Die | Series 9.6

Published on: 18th September, 2022

If you have a family, chances are, you need life insurance!

  • To have the best chance of not being a millionaire then that would mean leaving this huge asset exposed by pretending death cannot happen to you. (01:48)
  • Simply don't ask yourself questions like, "How would my family be able to stay in our home?" "How would my spouse be able to pay all the bills?" "How would my children pay for college?" "How would my spouse be able to stay on track for all the goals we laid out together?" (01:58)
  • If you do want to have answers to all those questions, though, if you want protection for your spouse and your kids so that they wouldn't have to perhaps uproot their entire life because of financial deficiencies while simultaneously mourning your loss, then there is life insurance. (02:20)
  • And if you are young and healthy, a fixed rate term policy is incredibly affordable. (02:48)

Securities offered through TFS Securities, Inc., and Advisory Services through TFS Advisory Services, an SEC Registered Investment Advisor Member FINRA/SIPC. TFS Securities, Inc., is located at 437 Newman Springs Road, Lincroft, NJ 07738 (732) 758-9300.

Transcript
Voiceover Audio:

Welcome to the Enjoy More 30s Family Finance

Voiceover Audio:

podcast. The only podcast dedicated to making life more

Voiceover Audio:

enjoyable for young families by hitting on the financial topics

Voiceover Audio:

that tend to weigh on us, stress us out, and distract our focus

Voiceover Audio:

from simply enjoying life.

Joseph Okaly:

Hello, and welcome to the Enjoy More 30s Family

Joseph Okaly:

Finance podcast for all those people out there trying to avoid

Joseph Okaly:

being financially secure, well, we have our series for you the

Joseph Okaly:

10 Ways To Not Be a Millionaire. Now if you actually do want to

Joseph Okaly:

be a millionaire, not to worry, this series isn't just for those

Joseph Okaly:

people who are looking for financial ruin. If you avoid

Joseph Okaly:

doing these 10 things then you could be well on your way to

Joseph Okaly:

millionaire-hood as well. Each week I'll share a quick step in

Joseph Okaly:

this how to not be a millionaire process, so you know what to do,

Joseph Okaly:

or hopefully what to avoid. As always, before I begin, please

Joseph Okaly:

share and like please leave reviews. I'd love to reach and

Joseph Okaly:

help as many young families out there just like you.

Joseph Okaly:

Today's great tip on how to not be a millionaire is Pretending

Joseph Okaly:

You Can't Die. You are young, why should you worry about

Joseph Okaly:

death? That's not fun at all! As we covered in Disinterested In

Joseph Okaly:

Disability, as a young family, your future income potential is

Joseph Okaly:

your greatest asset, and so leaving it exposed and

Joseph Okaly:

unprotected is a great way to not be a millionaire. Pretending

Joseph Okaly:

you can't die is therefore yet another way to take advantage of

Joseph Okaly:

this concept. If you are earning $100,000 now, then with 2%

Joseph Okaly:

income growth over the next 30 years, your future income

Joseph Okaly:

potential is over $4 million dollars. A huge asset. To have

Joseph Okaly:

the best chance of not being a millionaire then that would mean

Joseph Okaly:

leaving this huge asset exposed by pretending death cannot

Joseph Okaly:

happen to you. Simply don't ask yourself questions like, "How

Joseph Okaly:

would my family be able to stay in our home?" "How would my

Joseph Okaly:

spouse be able to pay all the bills?" "How would my children

Joseph Okaly:

pay for college?" "How would my spouse be able to stay on track

Joseph Okaly:

for all the goals we laid out together?" Pretending you can't

Joseph Okaly:

die takes care of all of that for you. If you do want to have

Joseph Okaly:

answers to all those questions, though, if you want protection

Joseph Okaly:

for your spouse and your kids so that they wouldn't have to

Joseph Okaly:

perhaps uproot their entire life because of financial

Joseph Okaly:

deficiencies while simultaneously mourning your

Joseph Okaly:

loss, then there is life insurance. Life insurance can be

Joseph Okaly:

through work. Ideally, it can also be outside of work to

Joseph Okaly:

maintain direct control on this vitally important piece of your

Joseph Okaly:

plan. And if you are young and healthy, a fixed rate term

Joseph Okaly:

policy is incredibly affordable. A $1 million policy could come

Joseph Okaly:

in at over $100 a month for a healthy individual depending on

Joseph Okaly:

their situation. Overall, I think it is more than clear

Joseph Okaly:

pretending you can't die is a fantastic way to not be a

Joseph Okaly:

millionaire.

Joseph Okaly:

Thanks for tuning in today and join us for next week's episode

Joseph Okaly:

on how to not be a millionaire, Blowing the Bonus. As always,

Joseph Okaly:

please remember to review and share for others. And if you

Joseph Okaly:

need any help, don't hesitate in reaching out. I probably have

Joseph Okaly:

helped someone just like you till next week. Thanks for

Joseph Okaly:

joining me today and I look forward to connecting with you

Joseph Okaly:

again soon.

Voiceover Audio:

The conversations on this show are

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Joe's opinions and provided for general information purposes

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only. They do not constitute accounting, legal, tax, or other

Voiceover Audio:

professional advice for your specific situation. You should

Voiceover Audio:

always seek appropriate advice from a financial advisor,

Voiceover Audio:

accountant, lawyer, or other professional before acting upon

Voiceover Audio:

any content or information found here first. Joe is affiliated

Voiceover Audio:

with New Horizons Wealth Management LLC, a branch office

Voiceover Audio:

of TFS Securities, Inc., and TFS Advisory Services an SEC

Voiceover Audio:

Registered Investment Advisor, Member FINRA/SIPC.

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About the Podcast

Enjoy More 30s: Family Finance
Family Finance for Young Professionals.
Young families receive little to no personal finance help. We all grow up to have jobs and money, yet our education system focuses on Shakespeare and Algebra. Even professional advice can be hard to come by, with the majority of the industry chasing retirees and existing wealth.

Joe Okaly's podcast is aiming to change this, providing personal financial advice geared specifically to professionals with young families. This podcast is dedicated to making life more enjoyable for young families, by hitting on the financial topics that tend to weigh on us, stress us out, and distract our focus from simply enjoying life.

Joseph P Okaly is a CFP Certified Financial Advisor who fits directly in with who this podcast is focused on - a young professional with a family. With over a decade of experience as an advisor, there is passion and knowledge to make a difference.

Securities offered through TFS Securities, Inc., Advisory Services through TFS Advisory Services, a SEC Registered Investment Advisor Member FINRA / SIPC. TFS Securities, Inc. located at 437 Newman Springs Road, Lincroft, NJ 07738 (732) 758-9300.