Since my monthly earning is limited, I sometimes ponder over the question of whether I have been spending too much money sustaining insurance premiums from all the policies that I have purchased for myself as well as for the entire family.
I like insurance which is the transfer of risk to insurer for protection. However, insurance and the protection can only bring benefit once certain conditions are triggered which means the unfortunate event already happened. The money does make life easier for the family but it does not buy you any additional happiness at that juncture.
Health supplements are also very important especially as one aged and all sorts of funny ailments started kicking in. Most folks started to get high cholesterol issue. Other metabolism disorder due to aging means the risk of hypertension or diabetics shoots up drastically. Chronic diseases lead to a deterioration in the quality of life.
Osteoporosis is also becoming more prevalent these days….I have an auntie who slipped in the bathroom while showering and the bones in her right foot ended up shattering like glass and broke into hundreds of finer pieces. The shocking thing is she really merely slipped and did not even fall down as in slipped but managed to recover her balance in time….just that the extra impact of the foot landing during recovery seems strong enough to cause the bones in the foot to shatter into pieces. She told me that since I am still not as old as her, I better take more calcium so that I don’t regret it during old age.
So with unlimited wants but limited resources, which one is more important? Health supplements or just allocate everything into insurances and investments?
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