Years ago, my wife and I were having this conversation…
Her: You know that old saying “blood is thicker than water?
Her: Did you know the actual meaning of it is the complete opposite of what most people think it means?
Almost everyone believes “blood is thicker than water” means that family is more important than friendships or that family bonds are closer than friendship.
The full quote, however, is:
“The blood of the covenant is thicker than the water of the womb.“
The original meaning of the phrase was blood shed on the battlefield creates a stronger bond between soldiers than simple familial or genetic ties.
In principle, it means friendships you choose are stronger than genetic ties to your family.
And so it is with many things in life. So many things we take for granted are actually not what they appear to be.
This is especially true in finance. A simple financial tool, like dividend paying whole life insurance, is actually much more than a simple death benefit. It’s also a savings plan that’s guaranteed for life, will be there for you when you need it, and non-cancelable (which, for some, is essential with today’s politics). It can help you pay off old debts, save money for retirement, help you buy a business or start a new one, and eliminate your dependency on banks, credit unions, credit card companies, and yes… even mortgage lenders.