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Can a Disability Derail Your Retirement?

Can a Disability Derail Your Retirement?

August 24, 2021

Most of us take for granted our ability to earn an income and save for retirement. What if something happens to you and you can no longer work? Not only would your day-to-day expenses start piling up, but your retirement contributions would also be in jeopardy. Making sure that you have a plan in place to maintain your financial independence is vital

There are many avenues we can explore to help you have the peace of mind you deserve

coming up to and in to your retirement years. Reach out to learn more

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What Steps Should I Take Today?

Many of my clients aren’t aware of how financially devastating a disability can be to their future. Oftentimes people who become disabled will stop making contributions into retirement plans or, even worse, make withdrawals early to cover expenses. Without proper protections in place, a disability before retirement can deplete your accumulated retirement savings. Being properly prepared can help guarantee that your retirement accounts continue to be fed so that the impact of your loss of income doesnt extend well into your retirement years.

Many employers offer disability insurance, but knowing whether or not it’ll be enough requires you to look into the type of plan, the fine print and compare the amount of coverage to all of your expenses. This should include your retirement account contributions as well. If your current disability insurance doesnt cover retirement, there are options we can explore.

While disability insurance is important for everyone to consider, if you’re predicting a sudden change to your job situation or have any health issues looming, its something we should discuss right away.

Let's discuss your options.