Unpredictable life, why plan?!

I was having a conversation with a group of friends and one of them said that because the parking in mall A is expensive, he is resorting to park in Mall B which is a little further away and walking to Mall A. Actually, this is even better because we get to exercise a bit at the same time. Perhaps not so suitable for me when I have a toddler, my wife is pregnant and there’s the huge bag plus trolley and not to mention after that the shopping bags. He then added, ‘I am doing this to save money for my future’. I said, don’t just save, think of making more money. He asked, more money means change jobs? I said, how about investment? He said it is so unpredictable, how to risk?

What is risk, really? Risk is a word associated with something we do not know. For example, changing job is a risk unless we are joining our parents’ company. Being asked to take up a certain higher study for a degree by our family even though we do not like the subject is a risk. In fact, everything we do not have knowledge of is a risk. Therefore, we can never escape from risk but what we do to manage it would at least help us to lower the potential risk. From risk, another quote came to my mind suddenly, a quote many people love to use. ‘I don’t need so much money, I have my family’ Familiar? Or another classic, ‘you must love your family more, not money.’ First of all, I love my family. I may love my family more than many people. In fact Bill Gates loves his family. Even the late Steve Jobs love his family. The difference between them and me? Well, just the money part.

Always be very clear, if you truly love your family, then plan for them. The best form of savings would always be how much you are able to save, not just on whether you save or not. Have you ever thought of the possibility that unforeseen circumstances may occur or that perhaps you are no longer around? During one of my business trips recently, I was hospitalised and the total bill came to RM22,000. If I was not covered by my company’s medical plan, I would have lost this RM22,000 just like that. As for investment risks, the best way is always to manage and not to hide from something we do not know. Of course, in our lives, if nothing bad happens and we live till the day we say goodbye peacefully, I think that’s the best. For everyone else, do you love your family?

written on 26 Dec 2014

Next suggested article: Secure and protect your wealth – Part 1

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