Sunday, March 28, 2010

Insure a future income

Insure a future income. This is the sixth of the seven rules that George S. Clason lays out in The Richest Man in Babylon.

Once again: Simple.

I'm sure you know what it means to insure a future income. You just need to do it.

This is very similar to the first rule of paying yourself 10% of your income and then setting it to multiply.

Invest in your 401(k) or Roth.

Automate some income streams

Get health insurance.

Get life insurance.

Get home insurance.

This rule is all about safety. It's a safeguard against being unable to follow the other rules.

Emergencies happen in life and no one thinks they will happen to them.

There is no reason not to have health insurance. If you have any type of dependents, you must have life insurance.

Guard yourself and your loved ones against tragedy. Now.

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