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Information about all aspects of finances affected by a serious health condition. Includes income sources such as work, investments, and private and government disability programs, and expenses such as medical bills, and how to deal with financial problems.
Information about all aspects of health care from choosing a doctor and treatment, staying safe in a hospital, to end of life care. Includes how to obtain, choose and maximize health insurance policies.
Answers to your practical questions such as how to travel safely despite your health condition, how to avoid getting infected by a pet, and what to say or not say to an insurance company.

For most people who go on disability, income tends to decrease while expenses often increase.

If your condition might require you to go on disability, planning now will help make sure you are prepared for the changes you might experience.

Our Disability Budget Calculator helps you estimate what your income and expenses will be if you become disabled. It also shows how much money -- if any -- you will need to make up for because of a shortfall in your income. For instructions for completing the chart, see: Instructions For Completing The Chart: My Cash Flow On Disability and  The Chart: My Cash Flow On Disability..

When you use the calculator:

  • Don't waste a lot of time looking for precise numbers. Estimates will do. The immediate purpose is to get an idea of what could happen so you can start to make adjustments now, while you are still productive. If there are shortfalls, you are pointed to helpful articles.
  • If you have already completed your basic budget, you will find that the numbers from there have been transferred to the first column of this chart. If you haven't, consider completing a Cash Flow Statement and a budget to get a good idea of your cash flow as it is now before projecting any changes due to disability.
  • You can store your work in your home page if you are registered. If you are not registered or signed in, now is a good time. Click here .

If you are already disabled, but want to see how long your savings will last if you dip into them to supplement your monthly income, see our Spending Your Savings calculator.

NOTE: To get an idea of the current cost of different types of care in the state in which you live, go to www.Genworth.com/mycostofcare offsite link

Some Thoughts About The Results Of  Your Calculations

  • Monthly Cash Flow Projections on Disability:
    • Look at your monthly cash flow chart. This is an estimate of what your monthly income and expenses will be during various periods of your disability. The numbers are adjusted for the inflation rate you selected.
    • Note that this chart only provides for disability lasting up to five years. If you would like to plan for disability lasting more than five years, use a retirement planning calculator such as the one at AARP offsite link, but take into account the income and expense items discussed here when estimating your needed "retirement" income. You can also use a Spending Down Your Savings Calculator, such as the one at Bankrate offsite link, to see how long your nest egg will last based on the amount you use to supplement your other income.
  • Savings Needed to Supplement Income: 
    • Based on your cash-flow projections, this chart calculates how much you would need to have saved to supplement your income if you are disabled for different lengths of time.
    • Don't despair if your cash flow shows a large shortfall for the time you are on disability. Our site provides ideas to help you make up for that shortfall. See:
  • My Budget: By analyzing and changing your spending habits now, it will be easier to minimize your expenses if you go on disability. Doing a budget can also help you save more and manage your debt.
  • My Net Worth: Complete your net worth statement to identify resources that you may be able to tap into if you become disabled. If you don't expect to go on disability for a few years, use a Savings Growth Calculator to learn how much your assets will be worth at the time you think it possible that you will be disabled. Bankrate offsite linkhas an easy calculator that you can use: 
  • New Uses of Assets: See this article to learn how you might be able to access money from your home, retirement plan, life insurance policy, financial assets, personal property, or credit.

NOTE: For ideas about saving money in various aspects of your life, click here.

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