| Topic: | Re:Re:Re:Re:Re:Re:Re:Re:Re:sleeping in the park | |
| Posted by: | Jonathan Mun | |
| Date/Time: | 25/09/06 12:20:00 |
| Hi Lynette, I agree, some people do not have enough money to put aside. There is a huge disparity between the have’s and have not’s in this country which is unfortunate. However, if this gentleman was able to afford a 4 month holiday/trip to Africa then I would argue he was not in such a situation. I believe in planning for the worst but obviously can’t cover everything. Example: I have income protection that will pay me 75-80% (forget the exact figure) of my normal gross income if I become involuntarily unemployed for any reason for a certain period of time (forget the period now too). Then there’s critical illness cover and death cover to pay out a lump sum that will clear my mortgage and allow my wife to live comfortably. For my wife and I to end up homeless the insurance companies and banks where we have investments would all have to declare bankruptcy at the same time. It could happen but not likely. These are basic insurance policies that don’t cost much and every household should have as a minimum. Hindsight is 20/20 as they say but it doesn’t take a genius to figure it out. I think investing in less affluent (no disparagement intended) countries is fantastic. My wife and I have often spoken about it and plan to do so in future so kudos to you for the successful investment. I hope you have a wonderful time in Australia and I recommend the Great Barrier Reef if you haven’t already planned to see it. With the global changes and pollution it may not be open to the public for much longer. You might enjoy it so much down there you’ll want to stay forever :) |