12/07/2023
When it comes to deciding between insurance and investments, many people wonder which should come first. Today, I want to address this crucial question and provide you with a practical guide.
👉🏼 Protect Your Income: Start by prioritizing income protection. This means having the right insurance coverage to safeguard your income source. Remember, without a steady income, your ability to save and invest is at risk. So, ensure you have adequate insurance to protect against unexpected events that could impact your income.
👉🏼 Build a Growth Fund: Instead of an emergency fund, focus on building a growth fund. This fund acts as a financial resource to rebuild dreams and explore new opportunities. It provides liquidity that can be used to try new ideas and strategies, allowing you to grow in life.
👉🏼 Start Investing Wisely: Once you have protected your income and established a growth fund, you can focus on investing. Consider your financial goals, risk tolerance, and time horizon when choosing investment options.
