1. Why Life Insurance Isn& #39;t Great (Thread)

Was responding to a post on @ImcocoMash& #39;s TL & was asked to do this thread (thanks Nenekazi). I& #39;ll explain why "Life Insurance" is probably a bad saving. My first job 3 jobs were in this field 2002-2006 in Zimbabwe. So I got an idea.
2. Before taking it consider the following factors well:

1. Economy outlook
2. Inflation outlook
3. Political outlook
4. Health outlook
5. Financial outlook

What do you think the economy is going to be like in 10-15 years? Where do you see inflation? How is politics shaping?
3. Economy - if you hear alarm bells of economy becoming worse by the day then pay close attention. In https://abs.twimg.com/emoji/v2/... draggable="false" alt="đŸ‡żđŸ‡Œ" title="Flag of Zimbabwe" aria-label="Emoji: Flag of Zimbabwe"> it was soon after expropriation without compensation. Exchange rate had tanked & production was slowing down in industry but life wasn& #39;t still terrible, just discomfort.
4. Inflation, here you need a policy that matches inflation growth in premiums & sum insured. BUT there& #39;s a problem, wages grow slower than inflation due to higher unemployment. So longterm to beat inflation insurance will eat into your disposable income, not a great thing.
5. If politicians who are likely to be future leaders show signs of acting like Mugabe or ZANUPF then be rest assured they& #39;ll harm economy & inflation, this is why I believe Malema/ANC need to rethink land policy. Without a savings base SA relies heavily on FDI, kill the goose?
6. Insurance companies are great at predicting your health, if you& #39;re going to die early you& #39;ll be charged heavily for it. Live longer you pay less. Use them to gauge your life expectancy, decline the cover & use their expertise to plan your life. You get expert help to plan https://abs.twimg.com/emoji/v2/... draggable="false" alt="😉" title="Winking face" aria-label="Emoji: Winking face">
7. Insurance companies hold all cards to pay/decline cover, remember the dead body taken to @OldMutualSA? Now if you& #39;re dead many things not disclosed can cause claim to be declined, it& #39;s your fault you forgot to disclose diabetes, you& #39;re dead & you can& #39;t argue it out anywhere.
8. So what must you do? Save the quoted insurance premium monthly or less because you don& #39;t charge commission & admin fees, you can buy ETFs as a start i.e. do what the insurance company was going to do with your money. You can automate a debit order for an ETF, you& #39;re set!
9. Reduce risk of death, drive slower, quit smoking, exercise (even at home), eat well. If you do it for 10 years what you& #39;d have put away will amaze you. Now think of expanding like buying a rental property for cash, Insurance companies do it, buy property with your money.
10. Put rental income into ETFs add bonds or shares, should be a lot more than what you put away at first round. Give it 5 years a second property or offshore investments (US/EU ETFs) @EasyEquities can help in that regard, teach this art to your kids, friends, rich circle growth.
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