Insurance is a must: Proper health insurance and critical health coverage will prepare you for the unexpected, like a sudden accident, a disability, a long-term illness, or a terminal illness, all of which demand proper financial planning. You should also opt for disability, life, covid, and long-term care insurance. Later in life, when you may not have a friend or a family member to look after you, all these insurances come to use. If any of this coverage is offered by your employer, you must take full advantage of this. If you already have these, you must review your coverage and ensure you have enough to provide for your potential needs. Otherwise, you might have to increase your coverage.