Monday, January 27, 2014

How to protect your family by protecting your income

 to protect your family by protecting your income
All family should have income to fund the daily necessity. The child may need college fee that is very expensive moreover the the child want to enter the medical school. A medical school course fee is higher than other major study such as technician, economic, culture, and others.
Unfortunately, we also face with uncertainty future.
Our saving could running out at the time we should use it for the kid college. We have to plan the course for kid; however, the economic crisis occurs. Our investment may decline due the market index fall to the valley.
Therefore, we have to protect our income to protect our family. We can also do like this:
1. Stream your income from various income
Most people feel safe with one income source only. They think $ 300,000 per year is enough for their life and retirement. You can start the business before late. Do not wait until you retire. Sacrifice your time and money to build it. After years, you might get benefit from the business. You just receive the money while you still work for the company.
Side jobs may be a good idea to increase your income. When you got fired, you can do more side jobs. Be a trader. You can sell the cloth, bag, shoes, or anything else. A man with selling skill will never starve unless he lives at far place.
2. For the future, you will need not only retirement fund but also investment. The retire man may help you to life simple; however, you may need so much money.
Invest your money at the stock company. Research any prospective stock that can generate high return. It is not difficult to find it. Most brokers know the better stock. You should also invest your money at various stock and do not invest at one stock only. Create a protfolio that contain different stocks. When a stock down, the other may increase. The portfolio can reduce the market risk.
Do not put your money at stock only because there are some others investment such as bond, ETF, and mutual fund. Those investment has different characteristics.
3. Life insurance will not protect your life. The life is God business we cannot change the God will. The insurance helps the people that has been leave by someone. They can get some money from the insurance company. The child can continue the education. They still have house and they do not need to sell if for their live.
Read Also :
How to cope family member
How to budget to saving

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