What's the use of happiness? It can't buy you money!

Firstly, I wish you all a very happy new year filled with fun, laughter, joy, peace, love, warmth and lots of money!

Who doesn’t need money? Who are we kidding that money doesn’t buy happiness. If I am unhappy, AND I have a lot of money, at least I can buy myself a ticket to the French Riviera, fly to Las Vegas and stay at the Bellagio! Somewhere between lying on the beach drinking beer and playing blackjack at one of the world’s largest casinos, am sure I’ll find happiness!

Critics would say that’s temporary. That’s not happiness at all. These material things don’t last forever. But then, what lasts forever? The fact is that nothing lasts forever, not even happiness.

Oscar Wilde once said, “When I was young, I used to think that money was the most important thing in life. Now that I’m old, I know it is.”

Now that I’ve attempted at establishing that money is important, let me try and share a thought, something that most of us take for granted. Most of us, Indians, do not like to think of the worst and believing in preparing for it. We do not like to think that one day we’d eventually die. What would happen then to our family? Our children? Our spouses? Our dependent parents? How will they sustain a similar lifestyle?

The answer is simple. By securing their future with money. Sure, they’d be the most hurt with the loss of a dear one. But wouldn’t you be happy to know that when you’re gone, you’ve made sure they lead a comfortable life?

Life insurance. Sold for all the wrong reasons. Bought for all the wrong reasons.

Say, you are the sole earning member of the family, and your monthly expenditure is Rs 20,000. If you were to die today, how will your family sustain the same lifestyle and meet these expenses for the next few years?

Just ask your agent ONE question before buying life insurance. Even if the agent is one from your family or is your friend. It’s your hard earned money after all!

• Given the current lifestyle, how much money will my family really need to sustain the current lifestyle if I were to die today?
  

If your agent can answer that, there are more chances that you will end up buying the right product.

Parting advice – life insurance is not for tax saving, and is certainly not an investment. If anything, it should protect your family against any misfortunate event that may happen in your life.

Buy yourself a term policy as early in life as possible.