Are you ready to take your future by the horns? Establishing solid financial footing is the best
first step. Read on as we look at how to establish a fruitful career, plan for your retirement, and
manage your money right now to safeguard the days ahead.
Prioritize your career.
Long gone are the days when having a disability meant that you had to sit on the sidelines while
everyone else went off to college and to work. Not only are colleges required to accommodate
disabilities, but it’s also entirely possible to earn your degree and launch a career from the
comfort of home if you choose.
Working from home is booming, and it affords you the opportunity to adjust your workflow and
schedule as needed. What’s more, Entrepreneur notes some at-home careers allow you to earn
as much – or more – than a traditional position. For example, some bookkeepers earned
$70,000 or more, while a software developer can net $61 per hour.
If you’re trying to get a new business off the ground, note there are a number of grants available
to those who have disabilities. There are numerous grants available to help pay for college, too.
Writing a grant proposal can be pretty involved, but thankfully, if you lack the time or it’s outside
your skill set, you can always hire a freelance grant writer.
Invest in yourself first.
When you have children, one of the first things you want to do is save for the cost of college so
that they can take care of their own futures. Unfortunately, despite your best intentions, there’s a
downside to this. Saving for your children often means you are putting your own needs to the
wayside, but it’s best to prioritize your own retirement so you can remain independent
throughout your golden years.
Make sure you have the beginnings of a nest egg in place, whether that’s through a self-
employment 401(k) or a work retirement plan. And if you must save for your children, too, don’t
try to fund an entire four-year degree until you have yourself settled. Remember, every little bit
helps, and there is nothing wrong with helping them take out a student loan when the time
comes.
Look ahead to protect your loved ones.
Although college should not be your top priority, you will want to look out for your family’s
financial needs if you were to die unexpectedly. Research different life insurance and burial
policies to decide what’s best for you. Whole or term-life insurance is a great option if your
children are still young and will need financial backing for years to come.
But, if that is too expensive or your children are already grown and self-sufficient, a burial plan is
an affordable choice. Burial insurance is often easier to qualify for as well. With benefits lower
than traditional life insurance, burial policies are designed to cover your final expenses and offer
a bit of padding against debt and outstanding bills you leave behind.
Live below your means.
Your means essentially boils down to your assets and monthly income. Ideally, you should
engage in a lifestyle where you have more money staying in the bank then you do going toward
expenses.
TurboTax explains there are several ways to do this, including creating a budget, tracking your
spending, and skipping credit cards. Another important step toward living below your means is
to eliminate extraneous spending on things you don’t really need, and it’s best to set up a solid
emergency fund for life’s surprises. Homeowners with a disability can also save by refinancing
their home loan. They can then use these savings to lower their mortgage payments, or they
can free up cash to pay for home modifications should the need arise.
If you still have questions or aren’t sure how to execute any of the above strategies, find a
financial advisor near you that can help. There is no shame in reaching out to someone w
th the
experience and expertise to put you on the right track. After all, the future is yours, and with
proper planning you will have enough money to get through it comfortably.