I decided to spend our savings when my wife was diagnosed with cancer. Her diagnosis was terminal, and most diagnosed with her type of cancer don’t survive more than a few years.
There is a sense of disbelief when you receive a terminal diagnosis. We knew that many people have survived longer than expected, that there are new cures on the horizon, and that doctors don’t know everything. But do you want to make that bet? Plan for the worst, hope for the best.
My circumstances were my own, so I can’t tell anybody you what you should do, but the decision to spend our retirement nest egg was obvious and immediate. My wife and I built our retirement fund together, and she most likely wasn’t going to be able to enjoy it later. For me, it was a no-brainer to spend it on her, just about as fast as I could. If she received a miracle cure, then we had time to rebuild it together. If she passed, then I’d have no regrets about it later in life.
My only reservation about spending money was that I wanted to make sure we kept enough funds so we could seek specialized treatment options, and bear any costs associated with them, such as the need to live in another city while undergoing a clinical trial. So I always made sure I had enough money or credit available to hop on a flight and pay for a hotel.
I have many regrets. I am sorry about a great number of things, but this is not one of them. I’m still in debt, and will be for years. I charged all of our credit cards up and spent our savings, but I did everything I could do for her. I only wish I could have done more.