Comments on: Playing the “What If?” Game http://www.thesimpledollar.com/2011/10/25/playing-the-what-if-game/ Financial talk for the rest of us Sat, 16 Feb 2013 01:14:45 +0000 hourly 1 http://wordpress.org/?v=3.5.1 By: DivaJean http://www.thesimpledollar.com/2011/10/25/playing-the-what-if-game/#comment-962487 DivaJean Fri, 28 Oct 2011 15:18:19 +0000 http://www.thesimpledollar.com/?p=7812#comment-962487 The big problem for me with the “What If” game is that it always leads to the most extreme in negative thinking.

I went thru a bad patch years ago when my mom was undergoing a third round of cancer treatment and my foster son was potentially going to go back with bio mom and dad. My “what if” thinking led me into deep depression and inability to function in the day to day, since the “what ifs” were in my face.

It actually took counseling to get out of the “what if” thinking. I do plan for potential disaster, but I really don’t allow myself to spend any amount of time dwelling in it.

]]> By: Andrew http://www.thesimpledollar.com/2011/10/25/playing-the-what-if-game/#comment-962306 Andrew Wed, 26 Oct 2011 14:23:12 +0000 http://www.thesimpledollar.com/?p=7812#comment-962306 I wish you luck with the disabilty and long-term care insurance. Disability coverage for the self-employed is hard to get, frequently very restrictive, and expensive. If your income is not generated by physical labor the exclusions make a policy almost worthless. If you’re a roofer, it’s worth it. If you,’re a financial blogger, not so much.

Long term care policies aren’t worth getting if you’re much under 50. True, they’re cheap, but any policy you huy at that age will probably have a term which will expire before you’re statistically going to need it.

]]> By: jackowick http://www.thesimpledollar.com/2011/10/25/playing-the-what-if-game/#comment-962301 jackowick Wed, 26 Oct 2011 13:44:11 +0000 http://www.thesimpledollar.com/?p=7812#comment-962301 I didn’t do the “What If” game until 2008 when one of my friends lost his job. It made me take a good look in the mirror at my finances and rechecking that my ducks were all in a row.

People confuse “preparing” with “obsessing”. Saying you don’t worry about it is completely independent from being prepared. I am prepared, and now “I don’t think about it”.

Ignorance is bliss, bankruptcy or financial/lifestyle ruin isn’t.

]]> By: krantcents http://www.thesimpledollar.com/2011/10/25/playing-the-what-if-game/#comment-962279 krantcents Wed, 26 Oct 2011 00:12:33 +0000 http://www.thesimpledollar.com/?p=7812#comment-962279 I go through a What if when I make decisions otherwise I don’t think about it.

]]> By: Steven http://www.thesimpledollar.com/2011/10/25/playing-the-what-if-game/#comment-962275 Steven Tue, 25 Oct 2011 22:11:08 +0000 http://www.thesimpledollar.com/?p=7812#comment-962275 What if I find a great job?
What if I am in great health and physically fit?
What if I live until I’m 110?
What if my children are happy and healthy?
What if my spouse is by my side until the day I die?

The “What if…” game shouldn’t only be played looking at the worst case scenarios. Sure, bad things will happen, but I think dwelling on the negative things that *could* happen leads to a life of worry and stress. Be prepared, but don’t obsess over the bad things that may or may not happen.

]]> By: valleycat1 http://www.thesimpledollar.com/2011/10/25/playing-the-what-if-game/#comment-962270 valleycat1 Tue, 25 Oct 2011 21:26:54 +0000 http://www.thesimpledollar.com/?p=7812#comment-962270 An excellent ‘what if’ preparation tip I’ve seen is if you ask someone to c-sign a loan or you co-sign one for them. The primary person obtaining the loan should take out a term life policy for the total value of the loan on his or her self with the co-signer as the beneficiary.

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