Most of us take for granted our ability to earn an income and save for retirement. But 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.
Worst Case Scenario
Many clients aren’t aware of how financially devastating a disability can be to their future. A disability can make contributing to a retirement account difficult or, even worse, may force early withdrawals to cover expenses. Without proper protections in place, a disability before retirement can really hurt your retirement plan.
While many employers offer disability insurance, employer-sponsored disability insurance often comes with some caveats. For example, you could lose coverage if you separate from your employer!
What Are My Options?
Planning for the unexpected is an often overlooked component when people are thinking about the future. Everyone should give some consideration to disability insurance coverage at some point. A complimentary call with me can help to asses the best plan of action to fit your vision of retirement. Sometimes we put off working on a strategy for disability coverage, however, if you’re predicting a change to your job situation or have health issues looming, we should discuss your choices very soon.
We’re here to help, so just give us a call or schedule your time online.
*** 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,
it’s something we should discuss right away.
Planning for the Unexpected
September 05, 2023