The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: BlueHouse on July 29, 2016, 12:00:55 PM
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I'm self-employed, about 7.5 years away from FI (could be fewer if I gave up some of my ridiculous spending habits)
I do not currently have disability insurance.
If I were to become disabled (long-term), I would sell my house in a highly-sought-after HCOL area and that would make me immediately FI. I don't anticipate any problems selling this house, unless the seat of our government changes from WDC to Trump Tower, USA.
Do I need to purchase disability insurance, or am I effectively self-insured?
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1. Do you have any dependents? This would change the equation significantly.
2. If you moved to a LCOL area but needed in-home care for a serious disability, would you still be FI? Disability is more than just not being able to work. Sometimes it's blindness, paralysis, or other issues that can increase your expenses significantly.