My 2019 Review – FINANCES, INSURANCE AND CHARITY💰

FINANCES

I think there’s a great deal of work left to do in this department. We are in a decent position financially, but I have been less than proactive with that money. Doing the research and making some smart investments will be a priority for 2020. 

That said I’ve had similar goals in the past that have amounted to little in the way of new investments. I think the problem is my financial goals have been too vague. What am I working towards? What is the kind of financial freedom I’m looking for and what does that look like? Perhaps a more important question to ask myself is, what does investment mean to me? Why am I doing it? It can’t just be to make money. I’m investing in the future. In a better world for my son to grow up in. So what are the kinds of things I need to invest in to help make that happen? 

I absolutely want to invest in renewable technologies and projects. I believe the biggest problem of my son’s lifetime, if not ours right now, is how are we going to save this planet. I also believe rates of depression are on the rise, in no small part, because of difficulties learning to adapt to an ever increasing rate of change. Helping those who are helping others through problems such as depression and anxiety is close to my heart and absolutely something I want to support as well. How can I do this? Who and/or what are the companies doing this right now?

While these are good goal setting questions for 2020, one other important point I want to make is this. Be grateful. 🙏 You already have everything you need to be happy and content right now! There is nothing wrong with seeking to improve your financial position but you should do so while acknowledging what you already have. It is enough. A roof over my family’s head. Clean water. Money to put food on the table many, many times over. A healthy son. A healthy wife. A healthy me. It is enough. 

INSURANCE

Insurance wise we are well set up, but I have two major things I want to look at as a priority in 2020. The first being writing a will (for Liam’s sake), which we still haven’t put together!! The other being looking into loss of licence/income insurance through my union, should I find myself unable to work due injury or illness. The first I’ve no excuses for putting off. The second I put off for a long time because a) it’s a very expensive insurance plan and b) with just me to support I wasn’t too worried about losing my job/income. My wife would be able to support us if needed and pre child it never seemed sensible to spend that amount of money especially considering we are well covered with over insurance policies/plans. Recently however I’ve had something of a scare and also know of a few fellow pilots who have found themselves unable to work and needed to use such an insurance plan. With a little more to lose nowadays I think it’s time to give myself this extra safety net. 

CHARITY

Charity. Do any of us really do enough? I certainly don’t which, quite frankly, isn’t good enough. I live a privileged life well above the global average. While my wealth might not make me anywhere near the top 1% in my own country, for the rest of the world I am the 1%. So where to start? 

It makes sense to start giving to causes that mean something to me. So what are those causes? Two spring to mind readily. The first being mental health and the second being the environment. I think it’s important to choose the right charities, ones that will use my money effectively in their efforts to help people and the world at large. But how do I know who I should give my money to? Do your research seems an obvious answer so that’s exactly what I’ll do as my first priority.

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