Comments on: Health Scare and Some Financial Questions? http://www.lazymanandmoney.com/health-scare-and-some-financial-questions/ Saving, Earning, and Investing Money Sat, 21 Nov 2009 00:22:17 -0800 http://wordpress.org/?v=2.8.5 hourly 1 By: HMG http://www.lazymanandmoney.com/health-scare-and-some-financial-questions/comment-page-1/#comment-10889 HMG Mon, 02 Jul 2007 02:39:19 +0000 http://www.lazymanandmoney.com/health-scare-and-some-financial-questions/#comment-10889 I kind of agree with Brip Blap. While being conscious of your finances is important, he should really try to assess your financial situation and any changes in savings plans after any medical treatment. A few years ago I had to take about 6 months off work and spent the majority of that time just focusing on getting better. Only once I was back at work and fully recovered did I start thinking about savings plans and making sure I had adequate health cover going forward. I would recommend that he take this time to educate himself about his diagnosis (which it sounds like he did). You would be surprised at how quickly your knowledge will meet or surpass that of doctors since they need to understand and research thousands of problems yet you'll only be researching one disease. Oh, and he should probably get a second opinion if you haven't already - I did (although unfortunately in my case the diagnosis was no different)! Would also recommend that he read Lance Armstrong's books - pretty inspirational for someone who is diagnosed with cancer. I kind of agree with Brip Blap. While being conscious of your finances is important, he should really try to assess your financial situation and any changes in savings plans after any medical treatment.

A few years ago I had to take about 6 months off work and spent the majority of that time just focusing on getting better. Only once I was back at work and fully recovered did I start thinking about savings plans and making sure I had adequate health cover going forward.

I would recommend that he take this time to educate himself about his diagnosis (which it sounds like he did). You would be surprised at how quickly your knowledge will meet or surpass that of doctors since they need to understand and research thousands of problems yet you’ll only be researching one disease. Oh, and he should probably get a second opinion if you haven’t already – I did (although unfortunately in my case the diagnosis was no different)!

Would also recommend that he read Lance Armstrong’s books – pretty inspirational for someone who is diagnosed with cancer.

]]> By: Brip Blap http://www.lazymanandmoney.com/health-scare-and-some-financial-questions/comment-page-1/#comment-10866 Brip Blap Fri, 29 Jun 2007 01:03:14 +0000 http://www.lazymanandmoney.com/health-scare-and-some-financial-questions/#comment-10866 Your mental health is critical, I think. Don't worry about saving so much right now. Don't go out and blow the savings account on a plasma screen. At the same time, I don't think that finances should be your first thought at this time. Get everything set up for automation - bills, savings, etc. - then forget about it and spend time taking a walk in the park, spending time with friends, enjoying a movie. And if you feel a need to buy a new book to take your mind off your problems, do it. Keep your money in HSBC or ING so it's available but not there for impulse spending, and forget about it for a while. Your mental health is critical, I think. Don’t worry about saving so much right now. Don’t go out and blow the savings account on a plasma screen. At the same time, I don’t think that finances should be your first thought at this time. Get everything set up for automation – bills, savings, etc. – then forget about it and spend time taking a walk in the park, spending time with friends, enjoying a movie. And if you feel a need to buy a new book to take your mind off your problems, do it. Keep your money in HSBC or ING so it’s available but not there for impulse spending, and forget about it for a while.

]]> By: Jon Smock http://www.lazymanandmoney.com/health-scare-and-some-financial-questions/comment-page-1/#comment-10862 Jon Smock Thu, 28 Jun 2007 19:22:20 +0000 http://www.lazymanandmoney.com/health-scare-and-some-financial-questions/#comment-10862 Not sure if it's been said yet, but don't do anything drastic just yet. Wait at least a week or so before you change all your assets around and sign up for this or that. Take things slow, make sure your priorities are where they should be, and always remain cautious without being defeatist in attitude. I like Lazy Man's advice to do something you have been waiting to do. A little relaxation or something to recharge your emotional batteries wouldn't hurt after news like that even in the case that it's nothing at all. Money isn't good for anything unless you use it at some point, so splurge a little perhaps. I also agree that putting some of your savings into more reliable short-term investments is a decent idea. Again, this probably shouldn't be a feast or famine situation until you've got more information, but gradually moving money to safer investments is always a good idea if there's a chance some bigger bills might be coming your way in terms of doctor visits or tests. Best of luck - I'll pray for you. Not sure if it’s been said yet, but don’t do anything drastic just yet. Wait at least a week or so before you change all your assets around and sign up for this or that. Take things slow, make sure your priorities are where they should be, and always remain cautious without being defeatist in attitude.

I like Lazy Man’s advice to do something you have been waiting to do. A little relaxation or something to recharge your emotional batteries wouldn’t hurt after news like that even in the case that it’s nothing at all. Money isn’t good for anything unless you use it at some point, so splurge a little perhaps.

I also agree that putting some of your savings into more reliable short-term investments is a decent idea. Again, this probably shouldn’t be a feast or famine situation until you’ve got more information, but gradually moving money to safer investments is always a good idea if there’s a chance some bigger bills might be coming your way in terms of doctor visits or tests.

Best of luck – I’ll pray for you.

]]>