If you become permanently  disabled tomorrow, you may be forced to retired. 

Are you ready?

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Here are some startling  statistics.  It happens more often than you’d imagine.

Just over 1 in 4 of today’s 20 year-olds will become disabled before they retire.

Over 37 million Americans are classified as disabled; about 12% of the total population.  More than  50% of those disabled Americans are in their working years, from 18-64.

8.8 million disabled wage earners, over 5% of U.S. workers, were receiving Social Security Disability (SSDI) benefits at the end of 2012.

In December of 2012 there were over 2.5 million disabled workers in their 20s, 30s,

 and 40s receiving SSDI benefits.

 

Chances of becoming disabled:

 

A typical make, age 35, 5’10”, 170 pounds, non smoker, who works an office job, with some outdoor physical responsibilities, and who leads a healthy lifestyle has the following risks:

 

A 21% chance of becoming disabled for 3 months or longer during this working career:

 

with a 38% change that the disability would last 5 years or longer and with the average

disability for someone like him lasting 82 months.

 

If he smokes and weighed 210 pounds, the risk increases to 45% to be disabled for 3 months of longer.

 

To calculate your own Personal Disability Quotient (PDG) go to:

 

https://www.whatsmypdq.org

 

Most American workers’ incomes are not protected:

 

About 100 million workers are without private disability income insurance and

69% of workers in the private sector have no private long-term disability insurance.

 

Think Social Security or Workers’ Compensation will cover it?

 

Better do your homework:

65% of initial SSDI claim applications were denied in 2012.

Can your family live on $1,310 a month? That’s the average monthly benefit paid by Social Security Disability Insurance (SSDI) at the end of 2012.

The above information was obtained from:

                            www.disabilitycanhappen.org.

Are you planning on retiring tomorrow? If not, I strongly suggest you check out the sites I am recommending above.  May 2013 is Disability Awareness Month. We would be happy to discuss how we help people to avoid the many potential losses in their financial future including the thought of retiring suddenly.

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Remember, if you are not happy about the amount of taxes you paid, get the free report that will help you to save taxes. Click on the tap on the top right and you will get it immediately.  Take charge of your taxes now for 2013!

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