Disability: You’re Not Ready

Very few Americans are prepared to deal with a long-term disability.  whether it's caused by accident or illness, three years without a paycheck would be disastrous for most. 

Texas-based [radaris.com/p/Clark/Hodges/]financial expert Clark Hodges says that would be painful -- even if you have disability insurance.

“You're still going to be accustomed to a lifestyle where you're not getting that much and you're going to have to bring your lifestyle down,” Hodges says, “and that's a very hard thing to do.”

Insurance industry researchers found two-thirds of us have less than $1,000 in savings to use if we're disabled for any significant period of time.

This isn’t like a few years ago where the family would just take over.

“Taking care of someone in 1970 in a home,” he says, “was a lot cheaper than today.”

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