Financial Freedom: Preparing For The Worst

To avoid being blindsided in your pursuit of a life that entails complete financial freedom; where the mortgage is paid off and you can choose to hand your resignation in at work if you wish and the constant daily burden of money weighing your head down is eradicated, there are other factors you should plan for aside from the main financial goal. It’s the events that could throw your hard work and effort to the winds if they’re not considered and accounted for in advance. Take a look to see if you’re covered for the below.

Insurance

It’s the unexpected that’s frightening of all when you’re living your daily life, working hard to reach your goals and then something happens. A car accident, a fall at work, slipping down the steps to the subway station, your life has taken a sudden turn for the short or long-term future. You’re disabled and wish you’d taken steps to take out insurance to cover you in invents such as this. The matter of the fact is unless you have enough savings stashed away to take care of you for 6 months, or in some cases, for the rest of your life, hedging your bets with a disability insurance company is a small price to pay.

However, don’t be entirely fooled by the notion of insurance meaning you’re 100% likely to receive a payout in a catastrophic event rendering you disabled or injured. As it’s been proven through various legal cases, you could struggle to receive such a payout when you try opening a claim especially with disability insurance, So prepare to further back yourself up in this situation too with a lawyer who knows the ins and outs of the small print concerning insurance policies. This reassurance will warrant you signing a plan that’s more likely than not to support you in a ‘what if’ scenario.

Emergency Fund

If you consider the cost you would incur if you were to become disabled next year and had to support yourself for the entirety of your life but were no longer capable of working, taking out an insurance policy is wise. But don’t solely put your eggs in one basket, squirrel away an emergency fund for the potential rainy days, weeks and months to put you ahead of any issues that may occur and protect your goal for financial freedom. From smaller issues such as a broken dishwasher to more significant issues, such as losing your job, to tragic problems such as becoming ill from cancer. Your emergency fund will tide you over during your aspiration to reach financial freedom, patching the gap and relieving you of economic concerns until you hopefully receive your claim through from your insurance company.

Cancer.Gov reported 1,735,350 new cancer cases will be diagnosed in the US in 2018. Census Bureau says that 1 in 5 people in America has a disability. The financial burden of which can tear away your wishes and aspirations for economic freedom, unless as advised above, you’re prepared and accounted for with insurance and an emergency fund as a safety net.

 

 

Common Financial Emergencies That Could Impact Your Life

Most Americans are only a single paycheck away from financial ruin. It’s a shocking statistic from a report that should concern the vast majority of of households that have no emergency savings whatsoever

We’ve been through the importance of having an emergency fund before on this blog. But there are some common incidents that could happen to anyone, and have a major, negative impact on your financial security in more ways than one. Let’s see what you need to consider – and perhaps we can persuade you to start putting some money away in an emergency fund this time.

Illness

It costs a lot of money to access healthcare, which we all pay for through insurance over the course of our lives. When you’re young, fit and healthy, the chances are that you won’t even consider major illness as a problem – and your career will progress normally. But people can get sick at any time, and it is highly unlikely you and your household will never be affected by someone getting ill at some point.

When you bear in mind that something like 90% of Americans are on the wrong Medicare plan, it’s clearly a massive problem. Some of the most comprehensive insurance won’t actually cover you for all those expenses – which can run into tens of thousands – maybe more – for prolonged periods of illness. So, the choices are stark – either put aside some money in the event of an illness, or take your chances – which is a huge risk.

Accidents

Accidents happen all the time, at a rather alarming rate, and the reality for all of us is that it only takes a second for your life to change for the worse. If you have suffered injury because of someone else’s negligence, you have a chance of getting compensation thorough personal injury or car accident lawyers,  but there is other issues you need to understand. And, there is a possibility that you will have to front up a lot of cash unless your case is water tight.

Complicated cases can take an awfully long time to settle – and there is no guarantee the court will find in your favor. Also, your family will be under a lot more pressure as they will have to care for you in your injured state, and there is a chance you might slip into depression or suffer psychologically as well.

Economic disaster

Sometimes things can go terribly wrong, everyone’s finances are affected, and there is nothing you can do about it. Take the financial crisis of 2008 as the perfect example – the effect on poor people all around the world was disastrous, and we’re still feeling some of them today.

So, even when the going seems good, you can never be sure the rug won’t be pulled out from underneath you for reasons beyond your control. It’s best to start putting money away in an emergency fund straight away – and give yourself the right level of protection and financial buffer that every household needs.

New methods of drug delivery is the future for the pharmaceutical industry

 

The-future-of-the-pharmaceutical-industry

With the production and launch of new drugs happening all the time, attention is also very firmly focused on the delivery method of those substances to meet modern needs and requirements.

The world of technology never sits still for long, and nowhere is that more true than in the field of pharmaceuticals. With greater understanding of chronic conditions, and the focus on developing medicines that can help alleviate those conditions and their symptoms, the traditional delivery system of oral medication is not always fit for purpose. 

Step forward nanomaterials with their unique properties that can allow for implants and patches that can manage a slow steady release of drugs into the bloodstream that is proving to be a much more effective method of delivery. With the advances in the development of the electrospinning machine research in this area is now easier than ever before and is now a key focus for investment and research as the capabilities of nanomaterials are becoming more and more apparent. 

Electrospinning and electrospraying is versatile and easy to set up

The process of electrospinning or spraying in order to create nanomaterials from polymer melts and solutions is now more advanced than ever. The usability of such machines is now such that a research laboratory can be set up in a matter of months where the workforce already has some understanding of electrostatics and polymers. This means shorter lead times for getting production up and running, and upskilling the workforce is easy and quicker. All this serves to reduce costs to the business.  

Creators of electrospinning machines are able to approach the implementation at a bespoke level, ensure the set up is right for the needs and intended outcomes of the research department. This can include adapting the machinery, which comes in different varieties from small ‘proof of concept’ machines to full production. The solution is now also fully scalable, and GMP and ISO certified for pharma-grade mass production, and there are many manufacturers leading the way in this.  

The machines can use a huge variety of raw materials and natural polymers to achieve the desired output properties. From sub-micronized particles and fibers, true encapsulation, nano-in-micro particles and multi-layered core-shell structures and non-woven mesh it is possible to create powder or granules for oral (tablets, capsules, sachets), parenteral, nasal, pulmonar, ophthalmic, vaginal & topical applications and patches for transdermal, mucosal, buccal & sublingual applications. 

The benefits of electrospinning production is huge

Using these methods to create pharmaceuticals has huge benefits. Firstly the process is highly versatile. Any solvent, excipient or API (including live cells) can be used in the creation of the solutions, suspensions and emulsions used in the process, and with no stress applied on the API this guarantees a product of the highest stability and quality, as materials are produced at a molecular level ensuring virtually no defects. 

In a single step it is possible to produce a dry product with minimal moisture content and with excellent processability of final product. Dose uniformity is guaranteed, which is vital in the management of chronic conditions.  

All this lends itself to maximum potency of the final product, which is all to the benefit of the end consumer. Release of the drug is controlled and optimized allowing for a faster onset of the effects on the body, yet also minimizes side effects especially when non-oral methods of distribution are used as often side effects are the result of the drug interacting with the digestive system. 

Added to this the path to general release of a new drug can be made much easier. Of course there first needs to be the necessary data from the drug trials, but once that is available and the drug is prepared for release using certain platforms, then it makes it a lot easier to achieve market authorization. This will reduce costs of development, and there have been instances where it was possible to bring a new product to market in just one year, far quicker than you might normally expect.