Sonali Bendre diagnosed with metastatic cancer
Imagine you were told you had 6–12 months left to live.
What would you do with your time left?
Today i watched the movie again.
It’s about Billionaire Edward Cole (Jack Nicholson) and car mechanic Carter Chambers (Morgan Freeman) who meet in the hospital and learn that their respective illnesses will kill them in less than a year’s time. Instead of letting the news bring them down, they decide to create a bucket list together, which is basically things each of them want to do in life before they die. The rest of the movie explores the relationship between the two men as they go out and try to live their bucket list.
It’s a beautiful movie that I’d definitely recommend.
Lessons I learnt from The Bucket List, thought it might be useful to you:
Whether old or young, death often comes when you least expect it. You really never know what can happen. That’s why you need to grateful for every day you wake up and make sure you’re living the life you want.
In financial context, make sure you have adequate Term Cover & Health Cover for your family to support their lives.
Write down all the things you want to do in life. Dream big.
List all your objectives, goals, aspirations to achieve. You get life only once.
Edward and Carter couldn’t really plan since their time was limited. They just took action, which is a major part of the equation too.
While you likely have a lot of time to accomplish the items on your bucket list, don’t wait for “some day” to come. Again, you never know when your time is up here, so there needs to be a little sense of urgency and desire to take action. Squeeze everything out of life while you can. Start by picking an item that is attainable and take the first step to figuring out how and when you can do it.
Planning & Execution is the Key to achieve the goal. Planning your finances, spending, investing, formulating a financial plan & executing it makes sense.
Life isn’t meant to be all about you. Yes, your dreams and goals matter, but it’s really about impact and legacy. How many people’s lives can you touch while you’re here? How can you be a role model for others?
As Carter said in the movie, “You measure yourself by the people who measure themselves by you.”
I try to educate & empower all through right financial planning, financial awareness, personal finance & investing principles for wealth creation.
We should all try new things more often. There’s so much out there to be experienced. If there’s something that’s been on your mind a lot that you’ve wanted to do, just go do it. Take someone with you. Create memories you can hold onto. Have the most fun possible. Do it all.
Today, every single product is positioned as need based solution. Can you deny the need to save for child’s education, self retirement, safeguard family’s health & build wealth in long term? It is difficult to see the advantages of any investment when approached by a good salesman.
The world has evolved to a global state & so do any company or salesman. I would rather term them all as HAWKERS. They position the product so well that customers fall for sales pitch & buy it.
Game plan of HAWKERS: IF you have child, you require Child Plan. If you have family, you must have medical insurance. You also need Retirement Plan.
Result: You buy costly child Ulips & guaranteed plans, complex medical policies, inflexible pension plans. They push you to diversify across Stocks, gold, property, bonds, bank FD, PPF & other complex options. If you can’t afford a new home, bigger car, or foreign holiday, they will get you to leverage on future income.
You take a home loan, a car loan, a personal loan & you also collect few credit cards in bargain. This is sure shot recipe for financial worries. Use the magic word to safeguard your finances against such perils, make you rich & protect you from friends offering free advice, wealth managers, money quacks, banks, insurance companies, bank relationship managers, insurance agents who are trying to sell you something or other.
Magic word: No, Nahi, Nako, Na, Venda, Nahim, Illa, Illai.
‘NO’ is a very powerful word. Use it ruthlessly. Say ‘NO’ to the relative who wants to sell you an endowment insurance policy. Turn down bank executive who is pushing a pension plan. Refuse the offer of free add-on card from Credit Card Company. Don’t agree to buy child plan that costs a bomb.
Action Plan: Keep your financial life as simple as possible.
Happy 31st March 2018
Launching Our YouTube Channel for your benefit.
Mission: Financial Awareness
Way to Simplify Life Series – 2
Majority of salaried employees ignore the individual health insurance and depend on mediclaim/health insurance provided by their employer (office health policy). Observations in many cases; the cover provided by the employer are insufficient to counter the growing hospitalization expenses.
Which are the reasons one shouldn’t depend on health cover from the employer, and have a individual health insurance or a top-up on hospitalisation product?
No Claim Bonus is not available in any group cover. It is provided in personal health cover to suffice the additional costs in coming years if you are not claiming in respective year.
Your employer won’t cover you after your retirement.
If you are thinking; I will buy health insurance just before retirement, think again? Because something happens during this period there is a possibility you don’t get health insurance as your application might get rejected due to medical history or you will be charged loading (extra premium) to cover the risk.
The government has increased 80D limit, Government wants its citizens to have enough health insurance as it protects individual from financial liability.
Recently, Government is giving health insurance cover of 5 Lakhs for 50 crores people who are Below Poverty Line. If Government is taking care of their citizens, why you are shying away for taking care of your own family?
Also, it costs average Rs 10000 – 15000 which is very small amount as compared to any medical bills of Rs 2-3 Lakhs.
So it’s always advisable to have a individual health insurance to cover self & family.