Weighing Desire For Gain vs Fear of Loss
The desire for gain can be a very powerful force in human nature. It can motivate us to go to college for years, save up for a house and even exercise daily. It can even cause us to take shortcuts, sometimes, when it comes to getting what we want. Using credit cards for example. This is where fear of loss can be helpful. It can help balance our desire for gain by keeping us from paying 18-20% interest on those credit cards or buying a more expensive car than we should.
The desire for gain and fear of loss are tug-of-war like forces that, hopefully, keep us on the path to good, solid decision making. Insurance is a good example of that. It may not always be easy making life insurance, car insurance and homeowners’ insurance payments but a healthy fear of loss makes it important to protect the things, and people, of value in our lives. If we decide, for example, that getting a jet-ski is more important than life insurance to protect our family, that decision may not prove to be the best.
It is terrific to be motivated by a desire for gain. We all want a better life with more creature comforts, nice vacations and an enjoyable retirement. But it shouldn’t come at the expense of building a solid foundation for your financial future and protecting it with loss prevention products like life, car and home insurance.
That being said, it is still important to shop for value in these products, and that’s where our independent insurance agents play a key role. They don’t just represent a single brand, but have access to multiple insurance companies. This ability to “shop and compare” for their client’s gives them a clear edge when it comes to building an efficient, affordable, insurance plan.
Let us help you manage life’s perils while helping you achieve your financial goals. We can help you make better decisions while getting the best value for your insurance dollars. Contact us and get started on building your solid financial future.