Please make sure that you have disability insurance. I was "making loot" then I became ill and now everything is different. I had learned to save at least one year's salary for an emergency situation or life change. I had one year of my old salary which was much lower than my last salary but it was still a lifesaver. I did not, however, have disability insurance. I have life insurance which I purchased for the benefit of my child, but I didn't have disability because I thought that no matter how disabled I was, I could always make money. That was a mistake. There is making money and then there is making a decent amount of money. Anyway, I repeat
1 Disability insurance, life insurance, disaster insurance, property insurance
2. Savings including retirement funds, CDs, tax free investments without penalties, etc.
3. Passive income. Even if it is a small amount, it may be enough to tide you over or to spend as your disposable income.
I hope that you all never need this advice but speak witha financial planner who can analyze your situation and give you specific advice related to your career, salary, family size, etc.
Sorry to hear...but yes, we went over this a lot here....
Young ppl dont realize the best things to get young is a life insurance policy, whole life that can be paid up in 10 to 15 years...meaning you stop paying premiums and have the insurance for life, to take a loan, or death ....but i concur, still have my disability plan in place, a must have...you just never know.