On this episode of If Money Were Easy, Mary Beth Storjohann and Neela Hummel unpack the emotional fabric of financial planning through the lens of a journey both personal and common - infertility. Together, they explore the emotional and financial complexities of fertility treatments, the importance of setting a budget, the different financing options available, and how to navigate the intersection of monetary investment and deeply personal choices within the journey of starting a family. Join the conversation and navigate these intricate waters with empathy and financial acumen on today's episode.
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What You'll Learn in this Episode:
- The importance of knowing what your insurance covers when it comes to fertility treatments
- Questions to ask when speaking with your insurance company about fertility treatments
- Why you need a budget when it comes to such an emotionally tolling topic
- The reason you shouldn't accept the first offer when it comes to the price for the medications needed for fertility treatment
- How to go in with a plan so it doesn't completely ruin your financial health
- Other financial options you can explore instead of just taking the first one presented to you by the fertility clinic
- Why you should consider the long-term financial implications when making your family plan
- The importance of discussion the extremes should the worst-case scenario happen
- Caring for your mental health and how to prepare
- How intertwined financial planning and infertility planning are and how to set yourself up to stay on track
Resources Mentioned on the Show:
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