Disability

Don't underestimate the importance of disability planning. 20% of Americans have some sort of disability. That's 54 million people, and that number is only going to get bigger. The risk of a 40 year old being disabled for 90 days or longer, prior to retirement age (65), is 64%. That's a significant amount, so get your powers of attorney, living wills, revocable trusts, disability insurance, lines of credit, rainy day money, and more in order. If you were to find out that you had a disability and did not have the proper coverage you could put your financial stability in general. With such a high percentage of people receiving a disability, its better to be safe than sorry.