CF and Wealth

[welshwitch]

This is something I've been thinking of for quite some time. The impact CF has on my finances, my family's finances, and my job prospects. I'm not trying to bring myself down with a "woe is me" post. I've had incredible education opportunities and job opportunities. In fact, I live in an area and have a large network of connections that could enable me to get an incredibly high paying job if I wanted to. However, I hesitate to pursue that because I am a 33 year old woman with CF. So instead I work an OK-paying job with great benefits that doesn't require me to work more than 40 hours a week.

I struggle with this, because I know I have the brains and connections to do really well career wise and financially. I'm not married yet, and don't depend on anyone financially. But I know my limits with my health, and don't want to sign up for a high pressure, high demanding job at this point, especially if having kids are in the cards. On the flip side, I don't want to sell myself short and miss out on opportunities because of my health.

I have an incredible support network and know that if something were to happen to me, I'd be OK. But I guess sometimes I wonder where I would be if I didn't have CF. The impact of my disease on my financial well being seems minimal at this point (mostly due to my great insurance) but I am also lucky in that I haven't had many hospital stays which could jeopardize my career.

I'm really "into" some financial goals that include being a homeowner some day, planning for retirement, contributing to my 403(b), and accumulating a decent savings and contributing to stock portfolios and investing. I don't need to be incredibly wealthy, but I just want to make smart financial decisions since I don't think I'll be going anywhere for a long time.

How does having CF impact your financial goals? And do any older CFers have any finance secrets to impart?

 

[Beccamom]

I understand what you are saying. I'm 37 with CF and when my husband I married we made the same income. I always intended to be an equal financial contributor, but instead I have chosen and/or been stuck in a part time job because it has benefits, extremely flexible work hours, paid extended sick time, and I work exactly the minimum to be eligible for family medical leave. The year before I was diagnosed with CF I went back to school for a second master's degree with the intent of becoming an equal contributor to my husband. Now I know my fatigue and not feeling well are long term. I cannot take a job that is contract work because I would only get paid when working verses having short term disability still paying when I am sick. I make double my per hour rate with contract work verses my part time job that I am way overqualified for. I struggle with this frequently lately.

I hope you find a good balance for you.

best wishes

This is something I've been thinking of for quite some time. The impact CF has on my finances, my family's finances, and my job prospects. I'm not trying to bring myself down with a "woe is me" post. I've had incredible education opportunities and job opportunities. In fact, I live in an area and have a large network of connections that could enable me to get an incredibly high paying job if I wanted to. However, I hesitate to pursue that because I am a 33 year old woman with CF. So instead I work an OK-paying job with great benefits that doesn't require me to work more than 40 hours a week.

I struggle with this, because I know I have the brains and connections to do really well career wise and financially. I'm not married yet, and don't depend on anyone financially. But I know my limits with my health, and don't want to sign up for a high pressure, high demanding job at this point, especially if having kids are in the cards. On the flip side, I don't want to sell myself short and miss out on opportunities because of my health.

I have an incredible support network and know that if something were to happen to me, I'd be OK. But I guess sometimes I wonder where I would be if I didn't have CF. The impact of my disease on my financial well being seems minimal at this point (mostly due to my great insurance) but I am also lucky in that I haven't had many hospital stays which could jeopardize my career.

I'm really "into" some financial goals that include being a homeowner some day, planning for retirement, contributing to my 403(b), and accumulating a decent savings and contributing to stock portfolios and investing. I don't need to be incredibly wealthy, but I just want to make smart financial decisions since I don't think I'll be going anywhere for a long time.

How does having CF impact your financial goals? And do any older CFers have any finance secrets to impart?

 

[politicaljules]

Maybe not related, but certainly on a similar line. Sending my daughter to school is causing her to be sicker and sicker which is shortening her life. I am trying to get the school to accommodate her health needs to lessen that risk but they are fighting me. So, do I maker her take the high paying job (i.e. school) just so her life and health can decline, or do I do something different?

 

[welshwitch]

Absolutely. Being in school is like a job. And I read your post about how much Obamacare is costing you. Really sorry to hear.

 

[sue3582]

CF has definitely hurt me financially. I took a teaching job in a private, low paying school because I knew they would be more understanding about CF. if I didn't have CF I would be teaching full time in a much higher paying school. As it is now, I can barely work part-time. Also, we are paying for surrogacy, which is very expensive. I am so lucky my husband has a good job and we can afford it but if I didn't have CF it wouldn't even be an issue.

 

[hjmomva]

I left my high paying job and stayed home when my son was diagnosed with CF but if I'm really honest with myself, I think it was a good choice for our family regardless of the CF and I'm somewhat bummed that I didn't think of it before he was diagnosed! Before CF came to our family.... although I always did well, felt appreciated, competent, and well respected in my career, I was never a risk taker and chose a secure large company and stayed there a long time. There were many reasons (personality, upbringing, family, health insurance, etc) that contributed to that decision (I watched many colleagues take big risks!). There are many good reasons that we don't all run out and pursue the most demanding and most financially rewarding path and I think it's helpful to look beyond the CF. A "high pressure, high demanding job" is not necessarily everyone's dream....maybe it's not really yours either.

 

[welshwitch]

Thank you, thank you HJMOMVA! Yes I agree 100%. I doubt I would really be taking that path if I didn't have CF. The key here is for me to not miss out on opportunities or sell myself short because I am letting the CF fear hold me back. I certainly don't think that kind of life is for everyone, CF or not.

 

[hjmomva]

Absolutely! CF is part of any decision but it needs a "reasonable place" at the table. It shouldn't bully you out of stuff.

 

[welshwitch]

I'd also like to point out that there are ways to get ahead financially even if you're not making a super high income. Has anyone read The Millionaire Next Door? Great read about living within your means.

 

[Beccamom]

Does your daughter have a 504 plan? Relating school to work I found out the 504 plan lasts through college. I recently had an issue with a family I work with in their home smoking cigarette's inside right before I arrived. My boss allowed me to switch out of the home, but I wasn't sure my actual rights.

 

[erock77]

I've struggled with this balance over the years. I'm an engineer and had a pretty good paying job that I liked years ago, but at times I was working 13 hour days and through the weekends. I could tell by the end of the day my cough sounded worse, I felt crappier and was having more hemoptysis. Eventually I enrolled in CA disability and worked part time. I later took the job I have now which is less enjoyable and creative, but was less-stressful and they had a long term disability benefit. After 4 years I cashed in on the benefit and went down to 2-3 days per week. I'm loving my free time off, but am looking towards getting back into design w/ a firm that will hopefully take me part-time. I find fulfilling things to do w/ my time as well. I'm really lucky that I have the LTD benefit, it pays 60% of my former salary, which I could easily live off and I have some decent savings.
The challenge is finding a balance. I realized I'm pretty happy with my current lifestyle, time & financial-wise, I don't need big luxurious things to be happy. Also I believe we're only 2-3 years from a game-changing drug for my mutations, so I want to minimize the additional damage I do to my lungs in that time. Maybe after that point I'll be up for full-time work again. It could also depend on how sick you are and how you've seen the work affect your health.

 

[cheerfulpuppies]

I never persued a high paying career, probably just because I was not aware how or what they were. My parents came from lower middle class and built themselves up a little at a time and my mom raised us to have higher standards/goals. I am part of the working class and have worked HARD for everything I have. Recently I have thought about how limiting the health care has become with the annual increases in premiums and copays (over the last 12 years since I have paid/worked for my own benefits). Most of the time we make it work, usually by me working extra or two jobs but every now and then I have a moment of weakness and wonder what will happen when I "really get sick". I have even said to my husband maybe at that time the only option will be to sign everything over to my husband and get a divorce just so we don't lose everything. Despite the fact I actually would lose everything I have worked for but at least not to the bank or hospital. Reality is I don't even know if that is legal or an option. And my husband would never go for it. To me it makes sense but to him the marriage means more than that. I wish I knew the right answer.

 

[Beccamom]

Wow the divorce options is soooo sad, but I have heard CFers get married in a religious ceremony, but not legally with the state for financial reasons.