Planning on living to 150? Don’t bet the farm on that!
Have you ever known someone who claimed he or she would live to be 125? 150? How logical does that sound to you, really? While we all can wish, hoping doesn’t make it true.
One of my newly-single readers has just found out that her hubby’s claim that he would live that long did not come true for him. What can be done, at this point in time?
Well, hopefully, he hoped for the best but prepared for the worst and left her with a paid-off house, no bills, and loads of insurance money. If not, she needs to find a full time financial consultant, an attorney, and an accountant who can walk her what comes next. This is the financial team that I refer to in the first chapter of my first book. Even if he did leave her in the afore-mentioned, nearly-perfect state, she still needs to get some professional financial advice on how to maintain her lifestyle and prepare for her own eventual demise.
Some of the questions she should ask herself include: What do I do about my minor children? Who will care for them if something happens to me? Will I have to care for my elderly parents at some point in time? Do I have a special-needs child that will have to be provided for after my own health declines? Do I have someone reliable to maintain my house and car, or should I take classes and learn to fend for myself? These are not the only questions that will need to be answered; I cover these topics in my second book, which I am currently writing.
What questions do you have about becoming Suddenly Single that you would like to see covered on a future posting? I would love to hear from you and answer any questions you may have about this transition time.