Quality of Life

Nobody can guarantee that the quality of life one enjoys now is a given for tomorrow. Be it due to foreseeable (retirement) or unforeseeable (sickness, accident) circumstances, our future life can be drastically different from our current one with us having limited ability to influence this.

Every now and then it is worth taking a pause and pondering:

What if an unfortunate event takes place and I cannot be income producing for a long period of time? Does my family have enough funds to survive or should I protect them by investing in an appropriate insurance policy?

What happens when my kids need to go to college? Will I have enough savings to support them?

Is my current pension plan adequate? Is it worth investing in a private pension plan that could enhance my monthly income when I am not in the labor force anymore?