PODCAST EPISODE 249: When You Self Insure, You Are a Pool of ONE

WHAT WAS COVERED

      • 00:00 – Episode begins Paul welcomes listeners.
      • 00:40 – Self Insurance and the definition of insurance.
      • 03:00 – Self-Insurance scenario breakdown.
      • 06:30 – reassessing your insurance ideaology.
      • 11:20 – Closing thoughts
      • 12:02 – Episode ends, thank you for listening.

 

[Tweet “To insure something means you enter into a contract with another entity, could be a government agency or an insurance agency, to transfer the risk, or some of the risk, from you to somebody else.  #YourBusinessYourWealth”]

[Tweet “With self-insurance, if you have to “create a claim”, you encounter the loss, meaning you ultimately didn’t have insurance at all. #YourBusinessYourWealth”]

[Tweet “The reason why self-insurance doesn’t work is that whatever the risk is that were “self-insuring” against, is the very thing that can dismantle our opportunity for retirement. #YourBusinessYourWealth”]

 

 

LINKS

Curious what you can accomplish with our help? Schedule a free 15-minute meeting with us! sfgwa.com/scheduling

Sound Financial Group’s Website for a Financial Inquiry Call – Info@sfgwa.com (Inquiry in the subject)

Your Business Your Wealth on Instagram

Your Business Your Wealth on Facebook

Sound Financial Group on LinkedIn

Paul Adams on LinkedIn

Cory Shepherd on LinkedIn

Cape Not Required (Cory’s Book)

Sound Financial Advice (Paul’s Book)

Clockwork: Design Your Business to Run Itself

Mike Michalowicz’s Book – Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine

Loserthink: How Untrained Brains Are Ruining America

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Full Episode Transcription

PRODUCTION CREDITS

Podcast production and show notes by Greater North Productions LLC