Pursuit Wealth Management
hedge against a negative outcome.
One of the most important components of a financial plan is understanding and managing risk. While it’s impossible to completely avoid risk, there are ways to reduce your exposure and the impact it may have on your life.
Although we are all aware that risk surrounds us daily and in almost everything we do (the risk of being in an accident on our way to work, stock market declines, loss of income due to injury, damage to some of our most valuable assets, etc.), we are rarely proactive about regularly assessing our exposure and protecting ourselves when necessary. A well-crafted financial plan will do just that.
Once risk has been identified and impact of severity assessed, we can then determine how to properly plan for and hedge against a negative outcome. One of the most common ways to transfer risk is through insurance.
Having a plan in place to outline how you plan to react if disaster strikes, can provide you and your loved ones with peace of mind.