Your Income Protection Plan

I want to share the story of Jack (40) and Rose (36). They have two beautiful young kids and a golden doodle. Their family looks like an iconic Hallmark Christmas card.

Jack is one of the most successful business owners that I know. He carved out a niche and built a business from the ground up. After a few challenging years, it’s become a self-sustaining cash cow.

Jack is the ultimate salesperson. He builds relationships. He makes others feel great. He has incredible expertise.

Rose is intelligent, well-spoken, full of love, and manages the family and house like a graceful ballerina.

Together, they can make this work; each has their focus.

Looking at the finances:

Jack makes more money in a year than most make in a decade!

Working with them on their financial plan is fun. They live and give generously.

Honestly, they are doing a lot of things pretty well.

However, they have one big flashing neon alarm within their financial plan…

☐ What if Jack can no longer meet with his prospects and clients?

☐ What happens if Jack can’t work?

☐ What if the income stops?

If the income stops, not only is his immediate family affected, but there’s going to be a trickle-down effect.

Through their abundance, they help other family members live their best lives (family vacations, college planning, etc…).

The most significant financial asset to Jack & Rose is Jack’s ability to be Jack and continue making sales.

This is an area of financial planning that we don’t see talked about enough, and we believe it should be included in the foundation of a financial plan.

Do you have an income protection plan (often called disability insurance)?

What happens if your income stops if you are a high-achieving professional in your prime earning years?

This is something that we all must answer for ourselves and our families.

For me and my family, I have disability insurance. It provides an incredible peace of mind.

However, it’s not for everyone. An income protection plan is unnecessary if you’re already retired or have reached financial independence.

You’ve already won the game! Congratulations. 😊

If you or someone you’re close to could use help aligning their finances and establishing a financial plan, please contact us. We’re accepting new clients and eager to help.



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