I promised in my last post that I was going to make this solely regarding my most recent endeavor; venturing into the realm of the financial industry; and looking for and eventually finding what I consider the best investment vehicle in the world. However, though I will mention the aforementioned information; it is not my purpose in life, and I am definitely not a salesman by nature (just ask my parents).
So I would like to start off with something completely different than what I promised first; because, well, it’s simply more important, and most people believe they don’t have the time to read every blog post, essay, book, or whatever they come across in their daily lives; and though it pains me to say it; they are right!
It is impossible for one human to live long enough to fully study and understand all of the information available to us, especially in this day and age; so it is up to each individual to pick and choose what they do and don’t want to read and learn.
Provided you can find ways to survive while doing so, I highly recommend spending time every day finding, and then doing the thing(s) you love most. “The pursuit of happiness” for me is teaching, helping people, playing/making music, and spending time with family and friends. I can’t tell you what makes you happy, but I can give you suggestions on how to become happier in general and improve your quality of life.
Helping others (whether it’s people, animals, or the environment) has been proven to make us happier, and it makes others happier and improves their quality of life too (a real win-win scenario). Finding a hobby that you enjoy can also be a great escape. Spending more time with family can be a great stress reliever (obviously some family members more so than others).
My point is: life is way too short to be so caught up in society’s notion that “becoming wealthy through hard work” is the meaning of life. The problem with that type of thinking —other than the cold truth that you can literally work yourself to death; look up the new Japanese word: Karoshi— most people who are truly wealthy and stay wealthy actually didn’t work as hard for as long as you may think to get there, and many are definitely not the hardest workers in the world.
They became wealthy through smart decisions such as minimizing their liabilities (paying off credit cards and other debts for example), investing their money, gaining assets, earning money from multiple sources of residual passive income. However; they are NOT the happiest people in the world, they are just the wealthiest. It has actually been proven now that yes, in general people who make $5000 per year are not as happy as people who make $50,000 per year just because the very poor are unable to afford the simple necessities to stay alive; however, the people who make $50,000 per year are almost equally as happy as people who make $50,000,000 per year… Just something to keep in mind.
Now I will keep my word and briefly talk about the investment vehicle I have found with downside protection, upside potential, and that actually saves lives; in the form of a new type of life insurance that you don’t have to die to use. It is a permanent (not a term) life insurance policy in which your investment actually starts to accumulate interest based on the stock market; but unlike a 401k, when the stock market goes down, in this your money does not! So you earn interest (guaranteed 2.5%, currently approximately 8% apy with a cap of 13.5%), and then you have downside protection so you never lose anything you have invested nor any interest you have gained. Another huge benefit; especially for business owners, is that also unlike a 401k and other investment vehicles: this is a completely legal tax loop-hole.
The only catch is to have the tax-free status you can not invest more than 15% of your annual income, any more than that and it will become a modified endowment contract (MEC) and will be taxable.
I have saved the best for last. The reason this is actually a life saver is because while you own this type of policy, if you get very sick or injured, you can actually take money out of the face value of your policy (again completely tax-free) while you are still living.
If you think about it; when you have to go to the hospital (especially for a prolonged period of time), you can’t work, and may even get fired, so you aren’t making that steady income anymore, but you still have to pay all your bills, which your health insurance will not cover. With this you get a HUGE chunk of money tax-free and are able to use it for anything; from hospital bills like the best of the best medical care that your health insurance may not cover (which can definitely save your life), you can use the money for your mortgage/rent, other bills, food, a vacation, and anything else you want to use it for, because it is your money!
For more information; contact me at firstname.lastname@example.org
If you are interested I am also hiring people to work with (not for) me to sell this. You can not get fired, there are no required hours and it can be done completely in your free-time. It also can be one of those residual sources of passive income the wealthy like so much…
Thank you for reading and keep an eye out for my next post; where I will talk more about assets and liabilities and give some suggestions of ways to improve your financial situation regardless of whether you are poor or rich, or somewhere in between.
See you soon =)