Life Happens: Learn the Difference Between Life and Debt


Life Happens: Learn the Difference Between Life and Debt

Sunday, March 22, 2020

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Whether you live under a rock, or you're just anti-social media, the trending topic is COVID-19. It's safe to say that nothing is certain in these unpredictable times. As the globe embarks on this frensied journey complete with conspiracy theories and amped up with fake news, it is important to remain calm, get informed and most importantly create a plan.

Your plan should not be so rigid that you cannot pivot and it helps if it incorporates various areas of your life like money, family, and career aspirations. Women are often known to be planners. Case in point: The very stylish but large handbag that has everything one could need in an emergency. I have been accused of carrying a suitcase by those who always need something in it. We are known to always be ready to face any adversity; be it getting a coffee stain out of a white satin blouse on your way to your big presentation (I adore my Tide stick), or dealing with a pair of sticky toddler's hands. Being ready is what we do best, but how many of us are ready financially for sudden misfortune especially amidst COVID-19?

As a wealth manager I understand the importance of creating a financial cushion, especially for my family. This is not only in place for pandemics such as COVID-19, but critical illnesses such as cancer, heart disease and even a stroke. A financial cushion is the difference between life and debt, which sometimes is more difficult to handle than the affliction itself.

If you are the main caregiver of the family, then you will be responsible for nurturing the ailing back to life, and in today's society it is not as easy. It is not only financially taxing but can also be extremely emotionally taxing. Being able to provide health care for yourself and your family is now seen as a luxury across the globe. By getting good insurance and investing from an early age, you can better prepare yourself for whatever life decides to throw your way.

Here are my tips on how to prepare for COVID-19:

1. Don't panic; set the tone.

2. Get informed; set alerts on social media from reputable media outlets.

3. Take precautionary measures for you and your loved ones.

4. Wash hands often and keep hands out of face.

5. In the office, skip the handshake and go for the elbow bump.

6. Always have a plan; if you don't already, ensure you get a premium health insurance package for you and your family like NCB's PRO CARE.

7. Start investing; there are many remote tools you can use to get started, like GOIPO.

8. Stay away from large crowds, start having more tele-meetings, video conferences or even working from home.

9. Take advantage of online services such as online banking.

10. Know the COVID-19 number 888-ONE-LOVE (663-5683).

11. If you have any symptoms call your doctor before physically going anywhere.

It truly takes a village, so let's work together to combat the spread of this disease and put our best lives forward!

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