Before you start worrying about a meteor that might hit the Earth and send all the people in Haven, along with the dinosaurs, we would like to let you know that there are other threats that should concern you, financially speaking. We’ve seen what most people fall for and we’ve put out a list with 3 threats that can wreck your financial future. Better be careful than sorry!
1. Being uninsured/underinsured
Accidents do happen! This is how life works, unfortunately. So, why wouldn’t you want to be prepare for the worse? People often tend to say “this can’t happen to me” and they don’t get an insurance. Or, if they do, they purchase one with gaping holes. If something happens to you, your insurance policy should provide enough income to meet the needs of your spouse and dependents. If you still need a little extra to cover these expenses, you can also consider obtaining a home equity line of credit. You don’t want to put in jeopardy in your life, so there’s no doubt that this is the one of the biggest threats that can wreck your financial future.
2. No one gives you something for free
Americans have a say for this: “there are no free meals”. So, if someone calls you at a seminar or a meeting, where you don’t have to pay for your meal, promising that there are no strings attached, be aware. They will surely try to sell you something and, more often than not, there’s a scam going on. Even things that might seem free can turn into threats that can wreck your financial future.
3. Don’t gamble, invest!
People want to get rich. And fast, if that’s possible. So they put their attention into investments. But people confuse speculations, a short-term “game”, with investments. If you chase the next hot stock, that’s not investing, that’s gambling. And you must be careful, because gambling can be really addictive. So, think ahead and take smart risks with your money.
What do you think about our list? Do you you know any other threats that can wreck your financial future? Tell us about them in the comments section below!
