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If you’ve ever struggled with a disability, whether it’s a physical limitation, chronic illness, or something else, then you’re living life in “hard” mode (as if life wasn’t already hard enough, right?).

Hard mode or not, you still have hopes and dreams and deserve the chance to achieve them.

Your hopes and dreams might even include achieving financial freedom, but it might feel impossible (like many things in life).

The pursuit of financial freedom is an aspiration for many, but when you have a disability, you’re faced with unique challenges. 

The additional costs associated with healthcare, assistive technology, and potential limitations on earning potential can make the journey to financial freedom more complex. 

So, is it possible to achieve financial freedom when you have a disability?

I’ll quickly skip to the ending by answering. Yes, financial freedom is achievable, regardless of disability. That said, it doesn’t come easy (disability or not).

If you’ve landed on this page, you might want to know how or why financial freedom is possible when you have a disability, especially when just living can seem hard enough.

If this describes you, then you’re in luck. In this article, I’ll tell you everything you need to know so that you can understand how and why it’s possible to achieve financial freedom, even with a disability.

What is Financial Freedom?

To ensure we’re on the same page, I’ll describe what financial freedom means to me.

I often use financial freedom, financial independence, and FIRE (financial independence, retire early) interchangeably.

Whether you dream of FIRE, financial freedom, retiring early, gaining freedom in your career, or anything else, pursuing financial freedom can empower you to live a life on your terms.

That freedom (to me) is true financial freedom. It’s also what I aim to help you achieve: a life built on your terms so that you can spend more time doing what you love (regardless of what that means to you).

Your version of financial freedom is probably entirely different from mine, or someone else you know.

While your end goal is probably different, the means are similar. My goal is to arm you with the tools to achieve your version of financial freedom.

And yes, financial freedom is possible for anyone, whether or not you have a disability.

Understanding the Unique Challenges a Disability Presents

While yes, anyone can achieve financial freedom, when you have a disability there are other factors you have to consider.

For instance, if you have a chronic illness, you might face higher healthcare costs due to medications, treatments, and specialized equipment. These expenses can significantly impact your finances. 

Additionally, certain disabilities may limit earning potential or require accommodations that can incur additional costs.

Overcoming Obstacles

Despite these challenges, many individuals with disabilities have successfully achieved their financial goals (myself included). 

By understanding the unique factors at play, developing a tailored financial plan, and leveraging available resources, it’s possible to overcome obstacles and build a secure financial future for yourself.

My Personal Journey of Struggle with a Disability

I was diagnosed with Crohn’s disease nearly 20 years ago, though I’ve lived with the illness most of my life.

It’s been a struggle, and I’ve certainly faced my ups and downs over the years, but I refused to give up on my dreams.

Despite the challenges, I completed my undergraduate and graduate education. I then built a successful career, paid off $85K of student debt in 18 months, and achieved many of my other goals.

While I haven’t FIREd yet, I’m well on my way to achieving my FIRE goals, after already achieving a significant level of financial freedom.

I’ve done all of these things while battling a chronic illness.

I won’t lie and pretend it’s been easy. I’ve had days I truly wanted to die because my pain was unbearable. I’ve also had days where my mental health struggled severely.

Some days have been good, and others have been bad. On the good days, I focus on what excites me most to drive my goals forward. On the bad days, I lean on loved ones a little more.

I can personally attest to the challenges and triumphs of pursuing financial freedom with a disability. My illness has presented unique obstacles, but I’ve still been able to achieve my financial goals with careful planning, budgeting, and investing.

If I can do it, you can too.

Key Tools for Financial Freedom with a Disability

Your goals are worth pursuing. Here are a few tools you can utilize to drive your financial goals forward:

• Disability Insurance: Consider obtaining disability insurance to protect your income if you eventually are unable to work. If your existing employer offers this benefit (many employers do, especially larger companies), you may want to take advantage of it! (Just ensure there aren’t any restrictions for pre-existing conditions)
• Healthcare Savings Account (HSA): Utilize an HSA to save pre-tax money for medical expenses. 

Hot tip: This is a tax-free account, including any gains you realize. This is essentially free money! The limitation is that you can only use the account to pay for medically-qualified expenses.

• Tax Benefits: Explore tax benefits and deductions that may be available to you as someone with a legal disability.
• Assistive Technology: Research affordable assistive technology options to help you manage your disability and increase your productivity.
• Accessible Employment: Seek out employers who are committed to creating an inclusive workplace. Don’t be afraid to request a reasonable accommodation in the workplace if it will help you be a more effective employee – ADA laws protect your rights.

The Power of Financial Planning

A well-crafted financial plan can help you achieve your financial goals, whether or not you have a disability.

Consider consulting an accredited financial advisor who understands the unique needs of someone with a disability. They can help you assess your unique financial situation, identify potential challenges, and develop strategies to overcome them.

A Message of Hope

A disability can feel incredibly isolating, but remember that you aren’t alone.

If you haven’t already, find a supportive community that can help you in the good days, and the bad.

And don’t forget that your dreams matter. More importantly: you matter.

By taking proactive steps, you can overcome the challenges you face and create a brighter financial future for yourself.

Conclusion

Remember that financial freedom is possible, whether or not you have a disability.

It isn’t easy to achieve FIRE (regardless of your circumstances), but it is worth the time and effort.

By understanding your unique challenges, developing a tailored financial plan, and leveraging your resources, you can take control of your financial future and build a life of freedom and fulfillment.

For more information on how to achieve financial independence and live life on your terms, check out my free ebook, 7 Ways to FIRE Your Career. 

The guidebook provides practical strategies and actionable steps to help you overcome obstacles and build a secure financial future.

You got this! Have a question or want to learn more? Leave a comment below!

Now that you’ve learned how and why financial freedom is possible when you have a disabilty, you might be wondering how else you can FIRE Your Career. Check out the posts page for more ways you can FIRE Your Career and achieve financial freedom.

FIRE Your Career: Achieve Financial Freedom Through Your Career & Spend MORE Time Doing What You Love.

Resources I Recommend in This Article:

7 Ways to FIRE Your Career (a free ebook to help you build a foundation for financial freedom)

Resources I Frequently Recommend:

Quit Like a Millionaire (a great FIRE book with a scoring system to help you select a degree or job field)

Strengths Finder (book to help you uncover your innate strengths, includes a free personality quiz)

ClickUp (my recommended goal-tracking and project-management tool)

Rich Dad, Poor Dad (a great intro to financial freedom book)

The Bogleheads’ Guide to Investing (a great intro to investing book)

Others: 16 Books I Recommend to FIRE Your Career