· www.thesimpledollar.com – by Lissa Miller on 10/7/19 ·
You’ve received your diagnosis, and the tremors, stiffness, and slowing movement have a name. Parkinson’s disease (PD) disease is a progressive nervous system disorder that affects movement and occurs when neurons in the brain gradually break down or die, according to the Mayo Clinic. In addition to physical and psychological symptoms, Parkinson’s disease costs more than $25.4 billion every year in medical expenses and $26.5 billion in missed work, lost wages, early forced retirement, and family caregiver time, according to a study conducted by the Michael J. Fox Foundation.
A Parkinson’s diagnosis can completely change your income and expenses, so it’s important to have a plan—and above all, remember that living with PD into old age is quite possible. You may want to meet with a financial advisor, set a budget or financial plan, evaluate your retirement fund, and consider how Medicare can help.
“Updating a financial plan upon diagnosis is advantageous for two primary reasons. First, a comprehensive financial plan offers peace of mind for the newly diagnosed and their families as they face an uncertain journey,” says Brendan Willmann, a certified financial planner and …