Insurance - Taking shortcuts in life leads to painful consequences

We talked before about having motivation and building up knowledge, and actually building wealth, gaining protection.

Sometimes its what you actually do that makes a difference.

Or what you do not do.

We take shortcuts in life, sometimes due to circumstances. We put ourselves in more risks for convenience. Most of the time it turned out ok but we ignore the tail risk. These are low probability events and they usually have grave consequences.

That’s why we make sure we are adequately covered.

I been seeing my sinseh for my psoriasis. He helps people with skin problems like that and manages to cure almost all of them except me.

But this story is not about me.

He specialize in using qigong to cure nerve issues that people suffer from, or leg pains. Folks from US that cannot stop shaking and vibrating due to nerve issues came here and was able to resolve.

This recent patient is a 23 years old lady. She was on tour with family in Malaysia. She was part of an accident where she got thrown out of the vehicle. What happens is that she suffered from paralysis from the waist down.

The damage is so bad that at night the pain was insufferable and that the body is not strong enough to pass motion.

You would think that insurance would have help covered.

Alas, they have a problem securing a payout because when the accident happen 6 people were in the car.

What we learn from this is perhaps we will not always be adequately be equipped with the consequences that help us evaluate how we plan things.

We take shortcuts in life, it is just that sometimes the results we have to live with.

Be safe everyone.

To get started with dividend investing, start by bookmarking my Dividend Stock Tracker which shows the prevailing yields of blue chip dividend stocks, utilities, REITs updated nightly.

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Kyith

Kyith is the Owner and Sole Writer behind Investment Moats. Readers tune in to Investment Moats to learn and build stronger, firmer wealth foundations, how to have a Passive investment strategy, know more about investing in REITs and the nuts and bolts of Active Investing.

Readers also follow Kyith to learn how to plan well for Financial Security and Financial Independence.

Kyith worked as an IT operations engineer from 2004 to 2019. Currently, he works as a Senior Solutions Specialist in Insurance Start-up Havend. All opinions on Investment Moats are his own and does not represent the views of Providend.

You can view Kyith's current portfolio here, which uses his Free Google Stock Portfolio Tracker.

His investment broker of choice is Interactive Brokers, which allows him to invest in securities from different exchanges all over the world, at very low commission rates, without custodian fees, near spot currency rates.

You can read more about Kyith here.

To get started with dividend investing, start by bookmarking my Dividend Stock Tracker which shows the prevailing yields of blue chip dividend stocks, utilities, REITs updated nightly.

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