We invite you to check out our website where you will find a wealth of complimentary reports, financial calculators and worksheets as well as quotes and articles to help your attitude or provide "food for thought."
|
Sources of Funds During a Disability
What Sources of Funds May Be Available to Replace Your Earning Power During a Disability? | Source | Evaluation | | | | Savings | If you save 10% of your income each year, it will take 10 years to set aside just one year’s income. | | | | Borrow | What creditor is going to lend money to a disabled income earner? | | | | Liquidate Assets | Assuming a market exists, a forced liquidation of assets can reduce their value. A single disability could consume the assets you’ve worked a lifetime to accumulate. | | | | Spouse's Earnings | Your lifestyle may already be built upon a dual income. If, however, your spouse is not currently an income earner, is it realistic to assume that he or she could replace your earning power? | | | | Social Security Benefits | It can be difficult to qualify for Social Security disability benefits. Assuming, however, that you do qualify, Social Security benefits do not begin until the sixth full month of disability and are generally not adequate to replace your earning power. |
|
There is, however, a potential solution... Personally-owned disability income insurance, coordinated with other sources of disability income.
|