The DIME Method
Apr 19, 2017
Chinese people are intelligent and hardworking and they have an inexhaustible drive for pursuing a better life for themselves. The government needs to create the enabling environment for our people to fully use their talent and initiative.
That's not even a sarcastic quip, it's the truth.
As impressive as those saving gains might look now, they could easily be swallowed as rising rates of illness place a greater burden on society.
The potential for conflict will force China and the US to redefine their roles in a shifting environment that neither is comfortable with. Tensions will be aggravated by anti-China sentiment during the American elections. Asian countries are in a position to delineate the boundaries of influence for these two powers but, given their varied interests, alliances will shift depending on individual concerns.
Debt: Add up any of their outstanding debts and future funeral expenses.
Income: Figure out how many years their family would need financial support. Take that number and multiply it by their income. We prefer this method because the rule of 10 can be limiting. Some families would require financial support for longer than 10 years. This way, you are customizing their coverage based on their family's specific needs.
Mortgage: Add the amount they still owe on their mortgage.
Education: Calculate the amount of money it would cost to provide their children with higher education. Keep in mind, this doesn’t just mean tuition. Do not forget to include cost of books, housing, and meal plans.