Importance of Income Protection

Importance Of Protecting Your Income

Imagine you were given an ATM - guaranteed to pay you exactly AED 30,000 per month.

Would you take care of this ATM? 

What would you do?

  • You would probably hire a security guard to protect it, and
  • Keep it in an air-conditioned room, with video cameras installed around it, and
  • Service it regularly, to keep it in working condition, isn’t it?

I once said to my 10-year old son Soham - that I did not have money to buy another toy car (since he had a lot of toy cars already).

Guess what he said to me? - Dad, just go to the ATM, and withdraw money from it.

You-are-the-atm-machine
You see, you are the ATM machine for your family, they depend on you for all their dreams, goals, and aspirations.

Assuming you earn AED 30,000 per month, and your income never goes up for the next 20 years of your working life, you would have made AED 7.2 million or USD 1.95 million.

Doesn’t it make sense to protect your current, and future income?

About the Author Amit

Amit is an Independent Financial Advisor, based in Dubai since 1997. He is part of the prestigious ‘Million Dollar Round Table’ (MDRT), which is an elite club of the best financial advisors worldwide. He has authored the ‘6-Step Financial Success Guide’, and the book ‘Creating, Preserving, Distributing Wealth’. He helps business owners and professionals ‘Create A Second Income’ through investments.

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