Note: This is Part 1 of a series of blog posts about financial advising. Click here to read all articles in this category.

“The graveyard is the richest place on earth, because it is here that you will find all the hopes and dreams that were never fulfilled, the books that were never written, the songs that were never sung, the inventions that were never shared, the cures that were never discovered, all because someone was too afraid to take that first step, keep with the problem, or determined to carry our their dream.” – Les Brown

Les Brown had it right when he said that the graveyard is the richest place on earth. You may not know it when you recently visited your deceased loved ones, but you actually visited the richest place on earth.

To summarize Les Brown’s quote, people are generally afraid of taking risks, so they take their dreams, ideas, goals and the likes with them to the grave. Who knows? Your deceased loved one may have taken a million-peso idea with him to his grave.

It’s Not Just Goals, Dreams and Ideas

photo credit: David Paul Ohmer Cincinnati – Spring Grove Cemetery & Arboretum “Morning Light Rays Over Obelisks” via photopin (license)

A lot of deceased breadwinners also take with them their steady paycheck or whatever source of income they had, leaving their loved ones behind with little to no money. A loved one dying is emotionally devastating. Later on, the ones he left behind will also experience financial devastation. Suddenly, a huge chunk, if not all, of the regular money that the family has been getting is gone.

What Happens then?

There’s a good chance that your family has been experiencing the financial effects of losing a breadwinner in the family. Suddenly, the family is having a hard time coping up with the expenses. The bills will not go into the graveyard. They’re still there, regularly arriving every month reminding you that payment is due. While that’s constant, your family has lost the constant source of income.

To make matters worse, a lot of these deaths happened without warning. The family wasn’t able to prepare for it. While your family didn’t have any problems paying for weekly groceries, now, you’re about to max out your credit cards.

photo credit: Got Credit Credit Card Debt via photopin (license)

Hopefully, your family was able to recover. Someone in your family probably stepped up and was able to replenish the family’s source of income. You’re lucky, then. For a lot of families, the following happened:

  • They lost their house because they’re unable to pay for the mortgage.
  • Their children stopped going to school. Some of them had to resort to working.
  • They uprooted their lives to move to a cheaper location.
  • They’re unable to pay for their bills so demand letters from collection agencies start piling up.
  • The adults had to take on multiple jobs.
  • They have to rely on generous relatives. In a lot of cases, they had to send their kids to relatives.
  • Debts piled up.

These are just some of the things that happen all the time to families who were left behind by their breadwinners, but you can already see how unfortunate it is for this situation to happen.

These Things could have been Prevented

Death, while in most cases are unexpected, is one of the few constant things in the world. It will happen to everyone. It cannot be prevented. However, you can prevent the things listed above if you’ve prepared for it.

Getting insured is one of the best ways to protect your family. This way, in the unforeseen event of your death, you’ll be leaving your family with insurance money that can help them get right back on track.

photo credit: Got Credit Insurance via photopin (license)

At the very least, your family can use the insurance money to pay for the estate taxes so they can get access to your estate. Estate taxes can easily breach the million pesos mark, and getting insured can ensure that your family won’t have problems paying for these taxes. After all, taxes, just like death, are a constant thing.

Do you want to learn how you can protect your family? Send an email to [email protected] (Subject: I want to protect my family.)

Save Lives and be a Financial Advisor

Did you know that in addition to helping your family by getting insured, you can also help other families by being a financial advisor? It’s a shame that there are still a lot of uninsured families. According to a report by the Insurance Commission last 2015, 32 percent of the population were insured. While that sounds a lot, and in fact the highest insurance penetration rate at that point, we still have to consider that 68 percent of the population are still uninsured.

In addition, a huge percentage of the 32 percent are covered by micro-insurance, which is not enough in a lot of cases.

save lives
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Save lives. Be a financial advisor.

photo credit: MTSOfan Changes via photopin (license)

Simply put, there are tens of millions of lives that can be saved, and you can save lives by being a financial advisor.

Are you ready to save lives? Send an email with your resume to [email protected] (Subject: I want to save lives.)

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