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| *Loan,banking and credit>>>social insurance |
If my needs are taken care by my social security income, then why do I opt for any insurance ? |
I just need answers with a vision to guide me at this juncture of my life. I'm going through a bad phase and always remain scared of losing my job in case another storm hits my place. Why should I spend for any insurance, when I know that under those circumstances its the social security income that would help me stay afloat ?? Social security isn't INTENDED to take care of your "needs". It's INTENDED to be a supplement to your own retirement savings. Insurance isn't intended to help you retire (annuities are a ROTTEN deal). Why should you buy (life??) insurance? It is intended to reach a goal. You need to determine the goal first, THEN find the insurance product to meet your need. It could be that the best product to meet your need, is an aggressive savings and investment program. Social security is a legalized Ponzi scheme. Mathmatically, it cannot maintain it's current existance. It's either going to need a massive overhaul, or it's going to collapse under it's own weight. I'm 41, and not counting on social security for my retirement. If it's there, great, major bonus! But if it's not, then I won't be eating dog food. I strongly suggest you plan accordingly. You mention a job and social security. Are you still working but drawing social security or are you still working but not drawing but old enough to draw? These are questions that need to be answered before addressing the insurance issue. Also need to know what kind of insurance are you talking about, life, health, or p & c? Answer these and I will try to help. |
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