Don’t expect to retire when you want. Here’s why

You may want to work until you’re 70 or older to build up your retirement savings, but that doesn’t always work out.

Most Americans aren’t financially prepared for a disability: 72% don’t have or don’t know if they have disability insurance, according to a Policygenius survey.

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Get clarity on your disability insurance policy

Many employers provide short-term disability insurance, which provides benefits for a few months in the event of a disability.

Save as much as you can and pay down debts

Make sure you have an emergency fund to tide you over during a short-term disability. “All long-term disabilities start out as short term disabilities,” Yerger says.

Protect your health

Prioritize going to the doctor at least once a year, even if you think you can’t afford it, Thiederman says.

Lower your financial risk

Set up a health savings account and consider long-term care insurance, which covers the costs of a nursing home and other forms of elder care, while you’re young to help protect your financial risk later in life.

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