Personal Finance

The Decision:  You Can't Work

Adults who find themselves with a mental or physical disability face many hardships. Most immediate is the emotional struggle they often feel when – whether at last or suddenly - they have to accept that they can no longer work because of a disability. Much about your life may change as you adapt. In addition to dealing with your health issues, you worry that you and your family will suffer financially because of lost income and increased health costs. In fact, many people in such cases eventually face bankruptcy or home foreclosure because they can’t get a grip on all their financial problems.

By turning to Allsup, you have already taken the first step towards reclaiming control over your life and re-establishing an income source through your Social Security Disability Insurance (SSDI). With almost 25 years of experience, we realize that obtaining your SSDI award only solves part of your financial troubles. Losing the ability to earn an income because of a disability, using up your assets during the long wait time for your SSDI award and having high medical expenses can be a long-term recipe for financial disaster.

It's Not Hopeless
However, the situation is not as hopeless as it seems. Granted, getting through these tough financial times won’t be easy. But with some careful planning and by knowing about and using all of the potential  resources available to you, you can definitely improve your financial circumstances greatly. And Allsup is one of those resources.

Allsup is committed to creating opportunities for those with disabilities to lead lives that are as financially secure and as healthy as possible. We call this approach Disability Life Planning – taking a thorough look at the big picture, understanding the financial impact of a disability, understanding your options and resources available to you and, most importantly, doing it as soon as possible.

To help you get control over your finances and get your life back on track, we offer some helpful resources specifically designed for those with disabilities – from a company you know you can trust:

• Your New Financial Planning - Increasing cash flow, budgeting and decreasing expenses are the basics of any successful financial planning process. The quicker you work through these basics, the faster you can get your finances in order.
• Managing Your Healthcare Costs - Paying for medical expenses is a big issue for those with disabilities. So, learning how to lower your healthcare costs should be a high priority.
• Understanding Your Medicare Options - Receiving Medicare benefits is an important part of being awarded SSDI. Find out what your available options are here.
• Managing Your Taxes - Nobody enjoys paying taxes. Doing some basic tax planning, however, may end up saving you some money.

Allsup is interested in “What financial topic most interests you?”  Tell us now.