I know, I know. “Financial products are boring dude, I just wanna bench my bodyweight, drink my energy drink, and fly to Bali”. I get it, so do I. As a young adult, getting life insurance may not be at the top of your priority list. You’re most likely healthy, not married, don’t have any children yet who depend on you, and you’re most likely on a tight budget.
If your interested in building wealth in the long-term- while playing financial chess in the short term, investing in life insurance in your 20s or 30s can be a very financially savvy move that sets you up pretty nicely in the near future.
There are levels to the game of finance. It’s not likely that you jump from level 1 to 100, without going through the necessary steps. Wealth is a simple game. All it takes is disciple and time. As you’re building your financial future, it’s important to put the building blocks in place- and build a great foundation that allows you to build a huge structure on top of it. Things like having an emergency fund of at least 6 months, a consistent income, savings, investments, and financial products like life insurance working in your favour- are all very important things to consider as a young person looking to build wealth and a well rounded financial position for their later years.