In Short, Life Insurance is a rip off. If you absolutely can’t hang onto your money, but you can pay a bill, then insurance policies may be the right thing for you. Otherwise, you’re better off saving your own money. Let’s do the math.
Today I received in the mail an letter for life insurance policies, yet at the same time, it’s for anyone between the ages of 45-85 and those are broken into different categories. There are in fact, eight different age groups, but I’m 30, why are they sending me this crap to begin?
Prices of the product vary as well. The prices range from $32.50 at the 45-49 age range to $166 at the 80-85 age range. That’s per month of course. Even then if we broke down the math even further…..
45 years of age onward to 85 is a difference of 40 years. With me so far? Good, this is all simple math, don’t worry. Let’s take that 40 years and multiply it by 12 months. If you got 480 months, we’re good to go.
Multiply that 480 months by the cost of $32.50 which is the lowest age bracket. That comes to $15,600. Where’s the problem? It’s a $10,000 life insurance policy. Now do you see my point?
Those of us who are disciplined enough to save our own money, can come out way ahead. Again, I’m 30 years old, let’s add another 15 years to that 40 for a total of 55 years. You should now have a total of 660 months. Multiply that again by $32.50 and you come up with $21,450. Not a bad life insurance policy is it? At least not compared to that $10,000 one.
All of this is done of course without adding interest to the pot. If you put your money in the bank, it would be even higher. However, nowadays, the bank isn’t exactly the best bet for your money. Another thing to look at is if you’re just a little bit smarter with your money and invest it into something that will give you higher gains, you could easily double that into the $40,000 – $50,000 range.
What does all this mean? For the price of a $10,000 insurance policy, you could have a $50,000 or better policy. It all depends on several factors: your discipline, how much you put back, and how wisely you invest. Seriously though? Do owe want our death to be more of a burden on our families than it already is? It’s time for us to start thinking ahead and doing things our way instead of their way.
You’ve got that idea and you want to make happen. How do you go about it? Well, sitting on your butt all day won’t help.
It helps to get out of the house once in a while. Give yourself some time away from the computer or what ever you happen to be doing. Go for a walk, bike ride, or run. It’ll help you cool off and relieve stress. This tactic works for me quite often. I feel exhausted but refreshed at the same time. If you know what I mean.
After a short break to rest up, I’m ready to go back at my planning.
Now that you’ve had a chance to relax and do something different for a change, it’s time to start putting things all together. You need a plan to help you get that plan going. In other words, you have to create a plan to get yourself off the ground. This is the second step and very important.
Without a strategy to get off the ground, you may as well hang it up. This is where a lot of people fail. Trust me, I know a thing or two about failing. Idea after idea, excuse after excuse, and what do I have to show for? Nothing. This is my attempt at actually making something work for a change. Now I need a strategy.
Where do you want to go?
First off, we have to figure out where we want to go. I’ve decided on England. I want to see various parts of England, Wales, Scotland, and Ireland. The UK is a great place to start. Lots to do, lots to see. When I’m done with the UK, I’ll head off to Scandinavia. Very beautiful country lies in Scandinavia. Much untouched beauty there.
Not only do we have to know where we want to go, but we have to know what we want to do. The basics I know. I want to immerse myself into the cultures, taste the food, experience the life of the people, learn their language, etc. It will be a whole new take on a journey that will be filmed and photographed for the world to see.
How are you going to fund this project?
I don’t know if you’ve noticed or not, but traveling is expensive. Filming and Photographing foreign lands, takes a lot of money. I think a great place to start would be Kickstarter. Many shows and films have got off the ground via pledges through Kickstarter, not just films though, art projects and many other things as well. Just about anything you can think of.
The problem for me at the moment is going to be coming up with a Business Plan. That’s basically what I need to succeed. I need to figure out what kind of equipment I’m going to have to take with me, the associate cost with traveling, how much I’ll need to spend on food, any clothing expenses I’ll incur, sleeping quarters, and even how I’m going to put all of that together.
Where to go from here?
From here on out, there’s no looking back. I’ve got to make myself get up each day and do some research. Find out as much as I can about what I want to accomplish out of this journey. So, I’m committing myself to at least two hours of research every day to gather the information I need. I’ll come up with an estimated cost of this trip and I’m sure it’ll add up. Documentaries aren’t cheap. Once I’ve gathered all the information I need, I can head off to Kickstarter.
It’s all uphill from here. Strap yourself in for the ride.
There is a great quote that was shared with me this past week. ”If you don’t risk anything, you risk even more.” by Erica Jong
This has a lot of meaning to me in the recent days. This quote can be taken in several different ways. It can be taken in a Psychological way, or a Physical way.
What this means to me is that you have to put yourself out there. You can say what you want to do all you want. If you don’t actually get out there, nothing will ever happen.
Why is this important? It’s everything you will become. It’s your future.
My plans to travel the world have taken a full turn. Instead of being lazy about it, I’m taking charge. I’m not going to sit here and be a lazy bum the rest of my life. Never.
I now have a goal. We can’t make that goal happen though without dedication. So, what am I doing to make it all happen? What’s my dedication?
My dedication happens to be the fact that I know I’ll never get anywhere if I don’t do something now. So, why wait around for things to happen right? In order to get some where, you have to have a plan.
Goals are useless without plans. That’s one thing that’s been holding me back. They say that realizing there is a problem is half the battle. I’m moving ahead at full speed now.
I’m inspired. Thanks to Social Media and the connections I’ve made, I’m able to push forward. And Kickstarter is going to help me get there.
My goal now is to do a bit of research and make a plan to make my dreams happen. Then it’s off to Kickstarter. I’ll get enough Pledges to at least get me where I need to be to get started.
What is my goal? Simply put, To Travel. My goal is to immerse myself into the world. Not everyone will have the opportunity to do so. I plan on making that happen.
Where there’s a will, there’s a way. I’ll find that way. Success is around the corner. Just in reach.
What are you going to do now, that you’ve been holding off? Are you going to let that last second slip away? That last chance?