Financial Fear

What are your biggest financial fears? The things that could derail all of your progress toward financial freedom, wipe out your emergency savings or put you into debt all in one fell swoop? For me, there are really only a few nagging issues that cause periodic bouts of worry.. unforeseen medical costs, family and extended unemployment. Medical Concerns: Does anyone ever have a sound understanding of how good their medical coverage is until they need it? In the past few years I have started using a health savings account (HSA) in conjunction with a high deductible insurance. Because I don’t frequently need to use my insurance, and because my company puts a lump sum contribution into my HSA… so far… knock on wood…it has served me well.  Familial Responsibility: Family starts with an F for a reason, right?  As of late, my mom, is my biggest money anxiety.  Last Spring she was diagnosed with Alzheimer’s.  She has very little family living nearby, is afraid of losing independence, and is unwilling to accept help.  Last Summer she told me she wanted to die alone in her house.  A byproduct of her disease has been her inabiltiy to manage paying her bills on time (or at all) and her dependence on her financial planner.  The guilt and pressure of how much money I would need to pay when shit hits the fans has kept me up at night since she has no  money saved for a care facility, home care or future medical care […]

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