Retirement Plan!! Timeshares!! What do the MZ generations think?

I was recently approached by an insurance agent to increase medical coverage in the aftermath of the effect of the pandemic fear to 5 million (you can translate into your own currency).

What would be your response?

The thought that dawned on me then, was, 'if I need to go through a treatment that will cost 5 million, I will ask God to take me home'. 


Most retirement plans out there would suggest:

1. Reassess the present situation and set new goals which include assessing present savings and debts, estimating future income generation capability, and desired future lifestyle.

2. Revaluate a new budget in anticipation of increased income, inflated spending, impulse big purchases, and saving more for contingency. 

3. Re-strategise your income, to include passive income, and through investments and up-skilling. 

How much is enough, before I wasted the joy of my youth away while accumulating?


This flow of thoughts led me to consider the formerly popular but presently re-emerging trend of the Timeshare Contract that is beyond the concept of Staycation but also on tangible assets such as AutoTimeshare on vehicles. 

Apparently, "Timeshares Rise in Popularity with Millenial and Gen Z Travellers" according to a report published by ARDA International Foundation, 2022. 

"Timeshares: Dream Vacation or Money Pit?" (quote from investopedia.com)

What is your take on this?



#retirementplan    #contingecyplan    #postpandemicfear    #medicalinsurance    #timeshare    #autotimeshare





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