In the latest Money Bootcamp episode, Maya Fisher-French and Mapalo Makhu are joined by a special guest, Nonhlanhla Bakasa, founder of AdoWord Multimedia, to discuss the reality of living with a disability. Nonhlanhla has been a "wheelchair rider" since the age of 12 when she suffered a spinal injury in a car accident.
Nonhlanhla provides an honest and frank insight into the challenges she faces every day, not only with the physical reality of her disability but also the financial battle. Her story highlights how inadequate the system is for those living with a disability.
Stian de Witt, certified financial planner and executive head of Energy Financial Planning at NMG Benefits, also joins the conversation and shares his experience of clients who became disabled, and the costs involved. Stian offers some practical advice on how to find the balance between having protection in place but not being over-insured.
The conversation also addresses the emotional toll of dealing with financial administration, including claiming from the road accident fund, medical schemes, and insurance companies, and the critical need for a supportive financial team.
Both Nonhlanhla and Stian advocate for building a support system, whether through friends, family, or financial professionals who can guide individuals through the complexities of financial planning and insurance claims. This episode covers:
The topic of disability and its financial impact Nonhlanhla's personal story and experiences with disabilityThe costs of living with a disabilityInsights from Stian on managing disability financesDiscussion on insurance challenges and tax deductionsImportance of having a financial support teamPractical advice for budgeting and prioritising expenses