I read a story over the weekend about a woman that needed to have a medical procedure done. It cost $14,750.
Her husband’s insurance company refused to approve the procedure, so she chose to go to Mexico and have the procedure done for $4,000.
When she arrived home, she began to feel sick…
When she went to the doctor, she learned that she had contracted a virus while in Mexico. The virus has been immune to any antibiotic she has taken. As a result she is in very serious condition, and could possibly die from this virus.
I never thought of unexpected medical expenses as a reason to invest before I read this, but now I do.
If you’re in the United States, even with top-of-the-line health insurance the chances are you will be faced with at least one steep out-of-pocket medical cost before you hit retirement age. The ability to pay such a cost in cash eliminates a tragic situation such the above, as well as other scenarios such as medical bankruptcy
If you are young, you have time on your side, and can start preparing today. Check out my book, The Stock Market is For Everyone, to get moving.
Click the image of the book at left to be taken to its Amazon page. (Disclosure: As a participant in the Amazon Services LLC Associates Program, I earn a small commission on each sale generated through these links.)