One thing you may want to consider if not offered by your spouse’s employer is disability insurance. This will protect you and your family in the event that you become seriously disabled. Typically, there are two types of disability insurance: short-term which covers anywhere from two weeks to two years, and long-term which covers periods of more than two years. Basically, it replaces your income if you are unable to work as a result of disability which can help prevent you from having to liquidate your investments and retirement accounts to pay for medical services.
8 Steps to Dealing with Forced Retirement
By Joshua Kennon, About.com Guide
This one is short and to-the-point but it’s absolutely vital. Sometimes, you may be able to get coverage through your spouse’s employer. In addition to saving precious investment capital by lowering expenses, this can help protect you during the time you are trying to find a new job or career path in the event of a major medical or life tragedy. Ordinarily, your spouse or partner will simply have to check with the human resource department to find out which options are available to them and at what cost
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- How to Deal with Forced Retirement -
- The Old Paradigm of the “Company” Man or Woman is Dead
- Adjust Your Expense Structure Immediately
- Don’t Touch Your 401k! Seriously!
- Don’t Forget to Use a Rollover IRA
- Check Your Spouse or Partner’s Benefit Coverage
- Should You Take a Buyout?
- It’s Hard … But Don’t Take it Personally
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