When life stings
Why having a “financial first-aid kit” matters more than you think
A few weeks ago, Elizabeth was on our front porch positioning a new doormat when I heard yelling — and a few very loud adult words.
She’d been stung by a wasp.
We got her inside, iced the sting, and I went hunting for the nest.
I never found it… until last week, when it found me.
I was blowing leaves and spider webs on the porch and got stung, presumably by a wasp from the same nest I never found.
One moment, I was fine.
The next, my ankle was on fire, my skin was itching, and welts were spreading across my body.
Even on my neck and face — places the wasp never touched.
I took a Benadryl right away and later two Prednisone tablets we had on hand.
About 45 minutes later, Elizabeth and I went to an urgent care clinic around the corner.
The doctor gave me a steroid shot.
An hour later, the swelling and redness started to go down.
How fast things can change
One moment I was fine.
The next, I was dealing with something I didn’t expect.
That’s when it hit me — this wasp sting is a lot like the surprises we face in life, especially in retirement.
Just like with a sting, you can’t always stop the initial shock — but you can control how quickly you recover.
We often plan for the big stuff — how much we’ll need to save, where we’ll live, how we’ll spend our time.
But it’s often the unexpected events that test our planning.
And our resolve.
Some surprises are good — a new grandchild, an exciting trip, a chance to help someone you love.
Others are more like my wasp sting — sudden, painful, and demanding an immediate response.
The hidden “wasp nests” in life
Think about what could sting you in life without warning:
A big market drop right after you’ve retired (and stopped getting a paycheck)
A sudden health diagnosis
A costly home repair
A family emergency
These are like hidden wasp nests in our lives — we may not see them until it’s too late to avoid them.
When I got stung, I had a plan.
I knew what to take.
I knew what to watch for.
I knew where to go if things got worse.
That kept me calm, even while my body was reacting.
It’s the same with your money.
When you have a plan for surprises, you can keep a clear head when something unexpected happens.
Your financial first-aid kit
In financial terms, your “Benadryl” might be a healthy cash reserve account.
Your “Prednisone” might be an insurance policy.
Your “steroid shot” could be the actions you and your advisor take to update and review your plan after a market drop. Or another of life’s surprises…
And your “knowing where the nest is” might be understanding the risks you face before they become problems.
It’s important to remember that everyone reacts differently.
Some people are allergic to wasp stings, and others aren’t.
Some might only get a small bump, while others end up at urgent care.
The same is true with financial surprises.
Your preparation should be personal to you, your health, your family, and your specific needs.
Planning for storms, not just sunny days
A solid retirement plan doesn’t just cover the good times—it makes room for challenges. For surprises.
We can’t predict every sting, but we can be ready to respond in a way that protects our security and peace of mind.
For example, having 12 to 24 months of living expenses set aside in safe, easy-to-access savings accounts can help prevent the need to sell investments when the market is temporarily down.
Keeping your insurance updated can protect you from large medical bills or long-term care costs.
Reviewing your estate documents ensures that if something happens to you, your loved ones have clear guidance.
It’s not about living in fear of wasps — or market drops or surprise expenses.
It’s about knowing you have the tools and the plan to handle them.
That way, when life does send something your way, you can take action with confidence instead of panic.
The calm that comes from being ready
I’ve seen clients face real financial “stings” over the years.
The ones who came through it best weren’t always the ones with the most money.
They were the ones with a plan.
They knew what to do, who to call, and which steps to take.
They didn’t waste time or energy on panic because they had already thought about what they’d do if something went wrong.
I sometimes refer to these as financial life boat drills.
If you’ve ever been on a cruise, they always tell you about the life boats before the ship even leaves port.
While things are safe and calm.
The truth is, retirement is full of unknowns.
Some will make you smile.
Others will make you stop and catch your breath.
But with a thoughtful plan in place, you can face both with the same steady confidence.
So, take a few minutes this week to look at your own “first-aid kit” for life’s surprises.
Do you have enough in cash reserves?
Are your insurance policies current?
Do your loved ones know what to do if something happens?
The best time to prepare for a sting is before it happens.
That way, when life surprises you, you’ll be ready to keep living on your own terms — with calm, clarity, and confidence.
I eventually found the wasp next under a planter next to our front door.
Could have sworn I’d looked there after Elizabeth was stung…
I’m happy to report it has been removed without any further incident.
I appreciate your continued readership.
Please let me know if you have any feedback or suggestions for future essays.
Until next Wednesday,
Russ
I am so grateful my parents (as well as my hubby's parents) taught us to be sensible with our money. We are so fortunate to have been put in touch with a financial advisor last year that helped my hubby deal with retiring from federal government service (non-military). On another note, wasp stings are the worst. Hurt like crazy (wanted to use a different word 😄). Got stung once cutting the grass. Fortunately I did not have your reaction. Whew, scary. So glad you are ok now. A totally different question, Russ. I'm seeing info online about reverse mortgages. I haven't really researched it lately. Back in 2001 I worked as a temp at a small mortgage company that mainly handled reverse mortgages. I seem to remember a couple of things. People approved for a reverse mortgage had to have a clean title, taxes paid up-to-date, and they did not receive the full appraised value of their home. Is any of that true today? Just curious. Thanks.
Glad you recovered so quickly from the sting! Hope Elizabeth recovered equally easily.