Your most important asset isn’t your house or your pension – it’s you.
You wouldn’t dream of not taking out home or car insurance, and you’d probably even feel fairly nervous if you didn’t purchase travel insurance for your holiday. When it comes to our most important asset though, the majority of us don’t protect it at all!
To illustrate how much you make over a lifetime: if we take the average UK annual earnings of £27,000 and increase this, in-line with inflation, across 50 years of work, this results in lifetime earnings of over £2.2 million. If you are earning closer to £50,000 or £60,000 a year, you will instead be approaching £5 million.
You are undoubtedly the most important asset you have.