Home / Gaining financial independence


Managing costs

Lower your housing costs

  • Move to more affordable housing now and set aside your savings. Even if you don’t need assistance now, consider selecting housing that will meet any medical conditions that are likely to affect you in the near future.

Lower your transportation costs

  • Instead of owning a car, consider public transportation or alternative transport such as Uber or Lyft. Use dedicated handicap accessible vehicles and services when necessary and where available.

Work / employment  

  • Explore ways to use your skills at a job that accommodates your medical condition. You may not be able to perform your old job, but you may be able to teach or supervise others in your field of expertise. You may be pleasantly surprised at the number of jobs you are capable of doing.
  • Participate in online resources like LinkedIn, which can put you in touch with job opportunities and connect you to others in careers of interest to you.
  • Sign up for free job retraining. The Ticket to Work program assists people ages 18 to 64 who receive Social Security benefits because of a disability. The program can retrain you for a job without losing your benefits.

Other things to consider:

  • Consider buying long-term care insurance now if you’re still working and can afford it. While expensive, it could save you money in the long run.
  • Talk to a financial adviser you trust about your change in situation.
  • Consult a social worker or case manager about options available under Medicaid and Medicare. Medicaid and Medicare will cover a licensed social worker’s fees. Many commercial insurers may not, so check with your insurance company about coverage.