Announcement

Collapse
No announcement yet.

Taking lower paying job. Question

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Taking lower paying job. Question

    All,

    I'm finally at the point where I need to change paths. My legs are giving me enough of an issue where doing my job at my age is getting difficult(34).

    I've decided to take a desk job....however the best I can do is about 70% of my current. Can I file for disability or something?

    I'm really naive on this but I need some opinions on those well versed in this stuff.

    Radiation safety officer --> MRI research assistant is the plan but anything I can do?
    First Symptom: May 2007
    Dx: August 2007

    #2
    Making long term financial plans is worth considering, particularly if you are considering taking a lower paying job.

    Lower pay will affect your pension retirement plan and 401k contributions. STD, LTD and SSDI benefits are all income based benefits, so those will also be affected with a lower income. If you do take the lower paying job and in 6 mos or a year, realize you are unable to continue working, you forfeited benefits at the higher pay.

    How long will it take you to recover the lost income resulting from the lower paying job? If your MS progresses sooner rather than later, will the reduced income based benefits be sufficient to support your financial needs?

    On the other hand, early disability retirement has financial consequences as well. STD and LTD typically replace 60% of your earned income at the time you stop working, assuming you qualify and are approved. SSDI replaces approx. 40% of your income at the time you stop working, also assuming you qualify and are approved. However, typically SSDI payments are 'recovered' by your LTD insurance carrier, if you have long term coverage and qualify for benefits.

    Before you make a decision about taking a lower paying job, you should consider talking with your MS doc as his/her support is essential to establish that you are disabled. You should also verify if you qualify for LTD and SSDI benefits.

    Talking with a financial planner might be very beneficial. With info about your current income and the lower paying job, a financial planner can provide details about your financial circumstances, including income/benefits projections for each scenerio you are considering.

    I was early 40's when I stopped working. It was not an easy transition for me personally. I had little choice and I'm still working on my transition from full time work and the being disabled thing

    Best of luck and take care.

    Comment


      #3
      You make a lot of good points.
      I would also check with a disability attorney, EDD, and Social Security.
      Maybe there are other posters that have some information.

      Comment


        #4
        I'm in a similar boat. The last few weeks I just keep getting worse. I don't think it's a relapse just that every year I tolerate stress and cold less and less. My legs are going I'm having cognitive impairment and anxiety. I can't hide the shuffling and limping at work and I'm falling behind in my work load. Last time my neuro saw me about 2 months ago I was doing great. I don't even love my job, I'm just terrified of becoming destitute but I feel souch better when I'm home not stressing and commuting and it feels like I'm just burning my candle out for no reason. I don't know how to procede and survive . I'm all alone and my only income already living paycheck to paycheck. I want off this ride. Not trying to hijack the thread but my situation is the same and wed both benefit from help. Best of luck to you OP! <3

        Comment

        Working...
        X