Even though the financial industry is one of the largest industries in the world, and even though we are flooded with financial news and websites, financial literacy is as confusing as ever.
Most people have trouble balancing their budget or reading a financial statement. We use credit cards and don't always understand all the hidden charges. We want to have good health care and save for our retirement, but many of us do not have a plan.
Why do we need long term healthcare? Think about this --
>> Medical costs doubles every 5-7 years.
>> A lot of sick people die not because there is no medicine but because of no money.
>> A majority of Filipinos don’t save money for future healthcare needs.
>> You cannot bring with you the healthcare benefits provided by your company when you retire or resign.
>> No traditional healthcare company covers ages 61 and up.
>> Most people rely on their children, or sell properties, or borrow money for their medical needs during retirement.
>> Majority of Personal Bankruptcy is due to Medical Crisis.
Kaiser Ultimate, a 7-year paying plan, with life and health insurance and investment. The life insurance protects your family in case you die too soon. And your own pre-paid healthcare. The later you use it, the bigger the value.
We need to change, but we need understanding first.
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