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And assuming there are no bad events in your life which drain your savings, like health issues
by garettmd 9y ago
And assuming there are no bad events in your life which drain your savings, like health issues
- the_gastropod 9y agoBest thing you can do to protect yourself from bad events like health issues is to have a cushion of cash! The strategy is the same: spend less, so you can save more money.
- GiorgioG 9y agoYou can't protect yourself from bad events like health issues with a cushion of cash. I mean not unless you have hundreds of thousands of dollars in the bank. My son was diagnosed with Type 1 Diabetes at 19 months old (4+ years ago) and with what we spend on hospital, health insurance, supplies, etc we could buy a new Toyota Camry every single year. Let that sink in for a minute. I have been a contractor for quite a while so we've been able to weather it, but if I was making a 'normal' salary (I'm in the Southeast US) we'd be drowning in credit card bills to pay for our son's care.