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Financial Issues and Stroke/Major Illness

Financial Issues and Stroke/Major Illness (Click the link to download Powerpoint for more info)

I will be speaking at the 2009 Power Awards (put on by the American Heart Association/American Stroke Association) on June 13, 2009 in Atlanta.  My seminar will focus on financial issues related to a stroke or major chronicle illness.  Last year I conducted a similar seminar (Click on the Financial Issues and Stroke/Major Illness link above to download a copy of the Powerpoint for more info).

Given the current state of our economy, this year I want to focus on three to five issues/comments/questions from the general public.  The answers will be posted on this blog and discussed during my presentation.

I need your help.  Do you, your friend, or family member have a financial question related to a stroke or other major illness?  Whether its financial planning before a stroke or budgeting/financial issues after a stroke or major illness, I want to hear from you!

For more on the Power To End Stroke visit:  http://www.powertoendstroke.org

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7 Comments leave one →
  1. June 3, 2009 1:18 pm

    What a great topic. My question is: Is there special insurance for strokes and other illnesses like there is for cancer? Also, is a “cancer policy” a smart choice? Finally, if one of my parents should have a stroke, how can I make sure their rehabilitation or possible stay in a nursing home is covered?

    • August 12, 2009 3:30 am

      Yes, there are insurance policies for specified diseases like stroke, transplants, etc. Most people with assets should consider long term care insurance. High income $100K+ earners should look at covering their earning power with disability insurance. Reply if you want more info. Shannon has a great forum to get people the information they need.

  2. June 3, 2009 2:57 pm

    Serious illnesses can lead to financial ruin if you don’t plan properly. I’m glad to see your addressing this issue.

  3. Ramona permalink
    June 5, 2009 9:25 pm

    my grandmother had a stroke 3 yrs ago so I’m pretty familiar w/the issues generally. the most pressing were:

    financing rehab and choosing best method based on available funding and elder preferences; and financing long-term care and choosing best method based on available funding and elder preferences.

    A larger issue related to elder care is the estate planning one…the concept of sheltering elders’ assets to prevent liquidation for nursing home expenses.

    Ramona

  4. anonymous permalink
    June 5, 2009 9:27 pm

    One issue that occurred to me that has a tax & financial impact is the implications of taking a hardship 401k withdrawal before or after one is laid off from a company.

  5. Robert permalink
    June 5, 2009 10:04 pm

    After my mother had brain surgery a few year ago she was unable to pay her regular everyday bills. Social security did not provide her with enough money to live off of. Plus she is now disabled and unable to work. She also has bad credit which makes matters that much worse. She sold her hold shortly after the surgery and not to long ago tried to purchase another house with over half of the cost of the house to put down for a downpayment. She was still denied due to the fact that she doenst work and her bad credit. My question to you is how does someone like my mother afford to be able to pay her normal everyday bills?

  6. January 24, 2010 4:59 pm

    You have great blog and this post is good!

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