{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Paul Truesdell Podcast","title":"My Children Broke My Bank","html":"","width":"100%","height":180,"duration":1093,"description":"You retire, and life is good. Maybe you are traveling, enjoying your mornings without an alarm clock, or simply savoring the reward of decades of hard work. Then life throws a curveball. A son or daughter loses a job, goes through a divorce, struggles with alcohol, or faces something more devastating like a disability. Suddenly, they are back at your doorstep, moving in. Your retirement lifestyle, the independence you earned, feels like it is slipping away. You love your family, but their crisis becomes your crisis.Now let’s be real. This kind of situation is not unusual. Families step up for each other. But when adult children or grandchildren have no financial backstop, the burden falls on you. And one of the most common, least-planned-for backstops is disability insurance. It is not glamorous, it is not talked about at cocktail parties, but it can make or break whether you spend retirement golfing or worrying about how to keep the lights on for two households.Here is a fact that surprises most people: according to the Social Security Administration, roughly one in four 20-year-olds will become disabled before they reach retirement age. Not die—become disabled. That means losing the ability to work and earn a paycheck, sometimes permanently. And that disability can come from anything—cancer, heart disease, musculoskeletal disorders, or stroke. It can strike at any time.Think about that for a moment. We buy life insurance because we know death is guaranteed. But we often ignore disability insurance, even though becoming disabled is far more likely during working years. And when disability hits, the financial impact is immediate and devastating. Your income stops, but your bills keep rolling in. Your rent, mortgage, car payments, utilities, and grocery bills do not take a holiday. Neither does student loan debt. In fact, the Education Data Initiative shows the average federal student loan balance is $38,375, and for graduate or professional degrees, it is much...","thumbnail_url":"https://img.transistorcdn.com/115-XsjkdwCpJ99xv-8oZ76t6jr8ScWEC5MYSKzL0ig/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS82MTUx/OWRiNTc0NTk0Y2Nk/M2VjYTliMGVhN2Zm/YTZkZi5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}