If you die today is your family taken care of? Learn from business coach Clay Clark breaks down why you need to buy life insurance to make sure you are doing the responsible thing and taking care of you family even after you are gone.
Welcome back to the thrivetime business podcasts radio show the place where the business world finance all of their business, coaching and marketing solutions for less than 8:25, for our learning more and more about what are the earth is flat and not past professional athletes. Alright, probation walking back to the conversation we’re not talking about where the earth is flat or not. But if you do want to know that question, you could probably turn into a youtube video presented by a kyrie, irving and I’m sure that he would be happy to talk to you about if I were talking about today. On the drive time show is the importance of buying life, insurance and I’m going to tear this up for you, it’s going to start off as kind of a harsh sounding show them get into the details, but I wanna make sure you get this most people that I have surveyed have yet to select the ideal date for their death. Most people, i, guess, i, haven’t at all, because I haven’t met, tightness, maybe someday I’ll be in the future. They could say they got. It figured out well on tuesday out of whack myself, so people don’t like to buy life insurance, people don’t buy life insurance because they typically think you know I’m I’m, I’m, good I’m, not dead, I’m, not dead, so far haven’t died, but here’s the problem, if you’re a dad yeah I am you are the source of income for the family. True, as well as the father figure, show your emotional needs as well as financial freddy mushroom, and if you are to pass I want to give you a question.
I want them to show notes. They’re chopping, I work at west car. Just taking this legally, you want to take the income you make right now:income you make right now and take the age of your youngest child. To the age of your youngest child is 3. Take your current income times the number of years. It will take them to finish high school, so it’s just safer. Make it easy. You made a hundred thousand a year combined family income and your child youngest child 3 did you’d want to have 15 years to 15 times $100,000 of life insurance minimum, because when you pass on I do believe you pass on to the other side but don’t pass on business podcasts. I do believe that the christ is there waiting for believers. I do believe that, but I was at when you do pass. What happened to the family is stuck and they were unable to forecast when you’re going to pass out. So they didn’t know that they will be asked to pay for your funeral funerals about $20,000 and I want to put a link on this on. The show notes for the average american again is according to forbes, has less than $400 saved for pes1 reports is under 500 and other one says:400 chef. You can find that it’s average american have $500 save in final put a link to it. So I’m telling you the average person is less than $500 saved. Most people have not bought life insurance, but we buy life insurance. That is the beginning. That’s like the step one but west carter his firm winters and king. They represent a td jakes joel osteen and craig rochelle on a big-name people, joyce meyer, and they represent a lot of business owners who think they specialize in weston. Tell me if I’m wrong, you didn’t specialize in helping families plan there a states their wheels. There trusts absolutely estate planning trusts, wills, health directives, all kinds of things to help. So there’s a lot of words that you just threw out that I’m so doesn’t want. I want to talk to you about a will. Why does every entrepreneur out there need to have a a will?
Is your written wishes? What you want to do with your stuff after you pass, and so the big thing is:when you die, do you have a little? You don’t either way someone’s going to decide what to do with your stuff? And if you don’t have a will, it’s going to be a stranger in a courtroom dipping it up, according to whatever the default rules are in your today. I got a question for you at what point do you feel like you have enough stuff where you should go through the length of writing a well or is that different for every business podcasts person I mean i? Just did a great question and people here wills and trusts and words. Maybe they don’t party, i, stand and i, don’t think, there’s any minimum asked if they can go to do, because we will address of more than your property and maybe who’s going to take care of my kids. If I pass I have a very real example, my father passed away and when he did, he had als when he passed away. He gave me the bucs jacket on the wall. That’s paul pressey draft jacket. So when you get drafted they give you the nba hat and a jacket, and it says on there it says to tom, get better cuz, my dad a cancer and he came to our house and gave them the draft jack and his hat. So what’s that worth I don’t know. So this is what I said to my father. He said:hey I’ve got some life insurance or something cuz i, don’t want any cash at all it all. I don’t want it, but I want you to know whatever you want to give me. That makes sense sentimental you do that will because he directed certain things to get to me. It wasn’t a debate. Cuz. You left my brother, a lot of things that I didn’t get that he thought were special to him, but if he didn’t declare that I’m going to place in my life, where I wouldn’t have liked fought somebody over it, but it could have got weird and i, see families, I would say more than half, maybe 3 corvin 80% of families I’ve seen after someone passes they fight over the limited edition, paul pressey limpio draft jacket over the house.
They fight over. We keep the house live at. Do we sell the house, I mean if nothing else, my way to my friends into my clients, I tell them it’s a way to avoid drama for your family, and probably one of the most stressful times in their life is to tell them ahead of time. Here’s how we want it done trusts because we talked about wills, but now it’s getting to trust. The trust is what I trust. It’s just a an entity that you create where you put your assets into this into two similar to any other entity. You might create. So here’s the big picture here we’re looking at so. If I haven’t a will, I go to court and say here’s, my will court. Will you please follow my will? If I have a trust, I follow the terms of that trust without going to court now trust live on, live on humans die, but trust live on right, so the trust hasn’t gone anywhere. So when you pass the trust says if west carter passes all the stuff in the trust. Here’s what’s going to happen in the truck and it’s a way to avoid going to court now. I want to make sure that the thrivers get this we’ve got about 2 minutes left of this segment and I’ll make sure you get this and just get it get it understand that during the business podcasts break or after you talk to your business coach or whenever you have time today, I do not care whether you call wes carter or another attorney cuz I’m not allowed to pay me 50 shares I can’t text you, but you never not paid me commission she tried, but we cannot do it at the okay. So here we go so I cannot take a fee share, whether you go with winters and king or not, but I’m just telling you all the statistics of show.
Most people will never take action unless they’re pressure to do so. I would encourage everybody today to call your business podcasts attorney or winters and king and schedule a meeting with wes are or whoever your attorney is and make a trust and a will at least make some plans so that your family is not fighting over things that you could have settled right now, pretty easily, don’t be in a hole in a how many an amazingly whole person, oh, don’t be in a hole and not by at least enough life insurance to cover the cost of your funeral cuz. You know that thing’s going to be $25,000 and you can buy that stuff, cheap, so get ahold of your life insurance. Guy today you might say who’s your life insurance guy, i, recommend farmers insurance I cannot make commissions off at its 392 4002 4000, but get a will it minimum get a will and get that life insurance, but west if they want to call you how they get ahold of you, my man, you can call her for 918-494-6868., 918-494-6868 or winters king.Com bility insurance