To be able to achieve financial freedom. We should know the right steps in FP. People always mistaken saving, saving, saving... because in our mind, its for emergency and future use. Yes, its true. But bear in mind, that if just by saving your money in the bank without some being put aside for EMERGENCY FUND, all your savings will be gone in a blink of an eye the moment any misfortune happen to you or people around. THINK, what will then happen to your future with all your savings gone. Referring to the increasing medical cost (Medical Inflation 10-15%) or misery happen to the head of the family.
The very first step in financial planning is PROTECTION or we all knew it as life insurance. Life insurance is not like in the past, where we pay and our money burn if we don't claim it. Modern insurance nowadays is package together with saving, hence we can actually withdrawal and refund our payment for life insurance anytime if there's no claim during the insurance period. Do take note, life insurance maybe not for you, but it plays a very crucial role to the people around you especially your family when unfortunate incident happen to you.
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