Building wealth is the sexy part of personal finance. It’s where you get to invest and take risks and watch your money grow. But there is a vital step to take first to make sure that your wealth can’t be swept away in a heartbeat thanks to an unforeseen event. We need to talk about life protection.

(Scroll down to check out the resources, including a Life Protection calculator)

Podcast: Subscribe in iTunes | Play in new window | Download

Watch the video of the podcast

 

This podcast is brought to you with the help of Seven Investment Management, who specialise in multi-asset investing, something I talk about a lot, and which I think should form the core of most people’s investments. 7IM have been helping me out here on MeaningfulMoney for ages, and I'm very grateful.

You can see what they’re up to at 7im.co.uk

New Accumulators – Building Wealth On A Sure Foundation

In my book, The MeaningfulMoney Handbook, I recount the bible story of the wise man who built his house on the rock. When the storm came and the waters rose, the house stood firm because of its solid foundation. By contrast the foolish man built his house on the sand, and when the storm came things ended very badly indeed because the foundation just wasn’t solid enough to withstand disaster.

When I distilled the essence of personal finance down to three steps, the second step was to insure against disaster. It’s so important, an entire section of the book is dedicated to it! So let’s get into this now from the perspective of a new accumulator, someone looking ahead to build wealth for their future, someone like YOU!

Resources mentioned in this episode

Talk to the protection experts: LifeSearch

Podcast: Life Protection with Tom Baigrie

Podcast: Protecting Your Future

Also, I've created a calculator (It's an Excel Spreadsheet) to help you calculate how much cover you'll need:

———–

Course: Learn How To Invest– Don't forget the discount code of PODCAST25 when you sign up

Website: Meaningful Academy

Book: The MeaningfulMoney Handbook

Investment Platform: 7IM Self-Invest

And for a transcript of today's show, click the big blue button below!

Share the love

If this show is of any use to you, it would help me massively if you would take the time to leave me a review on iTunes. This has a huge impact on keeping me near the top of the rankings, which in turns helps more people to find the show and to subscribe. Just click the button below: