Has anyone figured out a way to save $$ for their childs future without it effecting future government aid and or spending it on huge medical bills.
We are fortunate to have some money (not alot, but enough) because we have been saving for out childrens college education and our retirement. But with my daughters resent diagnosis I am wondering if it is wise to have savings accounts where money can be accessed easily. We have lived very frugally(sp?) to be able to save what we have. I just don't want to be hit by some huge medical bill, have that cash wiped out and find out later that if I had done it differently we would have been able to protect some of our assests. Don't get my wrong, I would gladly pay everything I have to keep my child healthy. But why can't we work to get ahead without it affecting future help? I think that with a diagnosis like CF (or any other major illness) the government should step in and help regardless of the families financial status.
Anyway, just wanted to know what other families are doing. Is it pointless to save money or should we just spend it all having fun so we can get help when we need it?
We are fortunate to have some money (not alot, but enough) because we have been saving for out childrens college education and our retirement. But with my daughters resent diagnosis I am wondering if it is wise to have savings accounts where money can be accessed easily. We have lived very frugally(sp?) to be able to save what we have. I just don't want to be hit by some huge medical bill, have that cash wiped out and find out later that if I had done it differently we would have been able to protect some of our assests. Don't get my wrong, I would gladly pay everything I have to keep my child healthy. But why can't we work to get ahead without it affecting future help? I think that with a diagnosis like CF (or any other major illness) the government should step in and help regardless of the families financial status.
Anyway, just wanted to know what other families are doing. Is it pointless to save money or should we just spend it all having fun so we can get help when we need it?