Plan your death

Just read an interesting piece of news. The Apollo 11 heroes had planned their death. Identifying that their journey to moon was hazardous, aware that the government compensation would be meager and since no insurance company was willing to insure them, they worked out a sort of 'family-pension' plan. Read more here.

My advise: take this lesson to heart. Plan for your death, even if you are not planning to go to moon any time soon. You have a family to look after. Look after them even after your death.

Financial Independence

My father was in AirForce. So after he retired he had a good pension and after his death my mother gets family pension. My mother is 64. The money she gets is sufficient. And she has never had to ask money from me. When she goes to visit her brothers and sisters, she travels by air or comfortably in air conditioned compartment in train. I don't have to buy a ticket for her. In fact, she insists in paying for the tickets herself. In other words, she is financially independent.

Being financially independent in old age is a good goal to shoot for.

When you retire, will you be financially independent?
Will you have a house - your house - to live in?
After you die will your wife be financially independent?

It doesn't matter what your age is today. But are you thinking about your old age?
Some day you will become old, won't you?
Time to prepare for this is now.