Personal Finance Apprentice

To Succeed In Life, We Must Prepapre For It

Sports teams have game plans. Teachers have lesson plans. Businesses have business plans, risk mitigation and contingency plans. And yet it seems a lot of people aren't preparing for their future. We must recognize that our life is playing out right now, and if we want to succeed in life we must prepare for it.



To Succeed In Life, We Must Prepapre For It

Sports teams have game plans. Teachers have lesson plans. Businesses have business plans, risk mitigation and contingency plans. And yet it seems a lot of people aren't preparing for their future. We must recognize that our life is playing out right now, and if we want to succeed in life we must prepare for it.

A while back, I watched the movie “The Mechanic” and enjoyed it a
lot. One thing that really resonated with me was the Latin proverb amat victoria curam which loosely translates to “victory loves preparation”.

It got me thinking. Preparation is indeed an important step if we want to succeed. Sports teams have game plans. Teachers have lesson plans. Businesses have business plans, risk mitigation and contingency plans. And yet it seems a lot of people aren’t preparing for their future.

I once heard a co-worker say that that he thought having daughter
would be great, as daughters are more likely than sons to take care of
their parents.

That may or may not be true. But the mentality of expecting
children to grow up and take on the burden seemed irresponsible to me.
After all, if you know you’re going to be old and financially needy,
then why not do something to change that future? Isn’t taking steps to
ensure it doesn’t happen better than letting it happen and just gambling
that someone will solve it for you?

The Filipino mentality/culture of kids taking care of their parents is
touching. It’s great. It’s correct. But it can be abused – as it was in this case.

There are numerous things that we can do to prepare:

  • Getting health insurance can encourage us to seek medical help right away, and not waiting for things to get worse before we do so.
  • Having an emergency fund can help us when unfortunate and unforeseen events happen
  • Life Insurance can help provide for our families should the unfortunate happen
  • Investing wisely can help us grow our money and provide for us in our old age.

There are probably a lot of other things we can do. But we must recognize that our life is playing out right now, and if we want to succeed in life we must prepare for it.

I believe that the key to our success lies within us. If we simply take the initiative, we can ensure a brighter future not only for ourselves but also our children.

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photo credit: chasingfun via photopin cc

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