Mo' Money, Mo' Problem Part 2

Cont.

Thinking of getting married/ buying a new car/ moving out of the house just because you jumped to the next highet pay grade? Think again.

Let me say one word to put you in perspective.

INSURANCE.

No its not for health, but you should be getting that as well (from your company, I hope). What I mean is for a Life Insurance which, according to the great elders, one should be getting while he/she is still young.

The great thing about insurance is that it can also be an investment. Instead of letting your cash sleep in the bank, or worse, letting the shopping malls eat it all up, this is a good way of earning additional muchos without lifting a finger, plus, you're insured.

Now, i tried getting my own policy since Erik told me that it would still be ideal to get it at 23. I thought I would be paying only around 25K a year but it shocked me that in order to get a good investment type insurance, I have to shell out around 50grand. Now, that's gotta be hard on the pocket. Even though Erik wants me to think that in essence, this is really just a forced saving, it kind of limits my wants vs. my needs. How can I travel to New Zealand, re-design my entire room, buy a refrigerator (frustration ko to), and other things If my cash is tied to my insurance?

I’m seeing a dry spell ahead.