Your clients likely know they should be saving for their golden years.
But, setting aside money for retirement in addition to the many other financial demands of life, can lead to competing priorities and challenging trade-offs.
But, even a minor stroke can sideline an employee from work for a week or more, and possibly require physical therapy – which means more time away from work. Vacation hours can quickly disappear and disability benefits cover only a portion of salary – typically around 60 percent. While physical therapy visits are generally covered by medical insurance, an employee is often left exposed due to lost income from time away from work.
In addition, they may be unable to drive to therapy themselves and have to take a taxi or enlist a spouse or friend to drive them (and take time off work). If it’s more serious, they may need to install a ramp into their home, a grab bar in the shower or even an “elevator chair” in the stairwell. These and other possible expenses start to add up.