Financial Plans Should Account for Potential Major Mental Health Issues

Typically, my posts will consist of a company analysis, whether I view the company as a worthwhile investment, and what I deem to be a reasonable valuation. The purpose of today’s post, however, is entirely different. What I hope to impart in this post is:

  • the importance of being debt free
  • the reason dividend income should be a very important component of any financial planning strategy
  • that Powers of Attorney over Health and Wealth can sometimes not be worth the paper they are written on
  • the need to craft Wills that take into consideration future potential mental health issues
  • the ongoing administration of assets

In essence, every proper financial plan should have a contingency plan in the event one or more family member were to experience major mental health issues.

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