When a person goes to battle, he needs to be able to plan and fight strategically and efficiently.

If a person brings only a gun, all it takes it for the enemy to find a small spot of loose entry, the person will be killed.

If a person brings only a shield, he can protect himself well, but he will not be able to advance past the enemy line.

A smart soldier will need to have both – the gun and the shield. What similarities does it have with financial planning? In financial planning, we need both the gun and shield too. That is what all wealthy people do, by being smart.

The gun is there to help us advance in terms of getting to our long goals in a more efficient manner so that we do not need to work as hard on our part. Let time and patience be our best friend.

The shield is there to protect our income ability and existing assets. In case of an unexpected death, accident or critical illness, your income can be protected and any existing assets will still be intact without the urgent need to liquidate at a loss.

Have your fine-tuned your gun and beefed up your shield recently so that you put in the least effort to get to your dreams in life with the best achievable results?