Raising Special Needs Child: How does it impact your finances?

“You’ll need $2.8 million to take care of your child for their life.”

I’ve never heard a sentence more deafening than that. My husband and I sat there, staring blankly back at our financial advisor.

I swear I could feel my heart slow, and my brain spun out of control as my husband and I faced the truth.

Our little one would need a lot of financial support-more than we could ever hope to accumulate.

You see, our 5 yr old daughter has Cerebral Palsy, and she’s physically disabled. She most likely will never walk, won’t be able to sit up unassisted, and has limited use of her arms.

Yet she’s smart, funny, loves to be read to, and devours pizza like a champ!

Cerebral Palsy, like many diagnoses, ranges in the severity of symptoms and secondary conditions. Children can be mildly affected, needing occasional help, or significantly affected, needing 100% care 24 hrs a day. Every child is different.

Let’s not sugar coat it; having a disabled child isn’t cheap. In fact, it’s expensive, very expensive.

If you’re a new parent of a special needs child, you need to start planning now, getting two steps ahead of the hurdles and inevitable costs to come.