When you’re taking care of yourself, whether it’s your health or what you eat or your finances, it’s about self worth. Either you’re worth taking care of in all aspects, or you’re not. So developing more self worth is something everyone—including myself—can do.
Few people are prepared to handle the financial burden of long-term health care. In fact, many people have a false sense of security when it comes to long-term care. Let’s separate fact from fiction:
“Medicare and my Medicare supplement policy will cover it.” FACTS: Medicare and “Medigap” insurance was never intended to pay for ongoing, long-term care.
Social fundraising only goes so far. This relatively recent phenomenon has everyone thinking that they’ll just turn to GoFundMe if things go awry in their lives. But does any grieving person want to spend time administering a social fundraising site? The chances of going viral are markedly slim, and social fundraising sites will take their cut, as will the IRS. And there is absolutely no guarantee about how much—if any—money will be raised.
Life insurance should first and foremost fit the purpose—it should meet your needs. And the primary purpose of life insurance is to care for those left behind in the event of your death. With group life insurance, it’s often set at one or two times your annual salary, or a default amount such as $25,000 or $50,000. While this sounds like a lot of money, just think of how long that would last your loved ones. What would they do once that ran out?
It was a struggle, but we learned to pay bills, wash clothes, clean house, keep up our schoolwork and provide meals. In spite of this setback, we all managed to thrive: My older brother graduated high school one month before her passing and works full-time at his manufacturing job. My older sister graduated high school with honors and is currently a sophomore at Lenoir Rhyne University majoring in psychology while doing work-study.