Living Without an Arm or a Leg

Wai Mun Fong and Benedict Koh

Chapter 20 in Managing Your Personal Finance:From Start of Career to Retirement and More, 2020, pp 137-142 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Dear David,Watching a recent re-run of Superman: The Movie brought back a flood of childhood memories. When I was a kid, there was no question who the superhero was. Handsome, invincible, defender of good against evil, the Man of Steel was at the same time disarmingly human and vulnerable as the bespectacled Clark Kent. Well, vulnerability was something that the on-screen Superman, Christopher Reeve, experienced in real life in a tragic horse-riding accident that left him paralysed from the neck down. That happened in May 1995. Reeve was 42, at the prime of his acting career. The accident also dealt a big financial blow to Reeve. While he was covered by a health insurance policy, the benefits had a lifetime cap of US$l.2 million. Reeve’s medical bills, however, soon exceeded this amount. Were it not for continuing help from a wealthy close friend, Reeve would also be in pretty bad shape financially…

Keywords: Personal Finance; Investment; Managing Money; Retirement planning; College planning; Borrowing; Buying Bonds; Investing in Real Estate; Estate Planning (search for similar items in EconPapers)
JEL-codes: D14 (search for similar items in EconPapers)
Date: 2020
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