A concussion totally derailed my retirement savings plan for 2024, but I'm excited to try again in 2025

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• At the end of 2023, I set a goal to fully fund my Roth IRA account, but then I had a concussion.
• I was unable to work for months, and many of my treatments were not covered by health insurance.
• Even though I didn't meet my goal this year, I'm excited to start anew in 2025.

At the end of each year, I review my family's financial plan, including our overall spending and savings. By the end of 2023, I knew I wanted to change how we invested. I intended to set up automatic withdrawals from our bank accounts to fund our Roth IRA accounts.

Previously, we funded our Roth IRAs with both automatic contributions and the tax refund money we received. Every year, I aim to fully fund our Roth IRAs, but in some years, our refund wasn't large enough to hit the limit. You cannot make catch-up contributions to a Roth IRA until age 50, so we try to contribute up to the limit each year if possible.

I had a concussion at the end of the year

While this was my best intention for 2024, life had other plans. In mid-December 2023, I suffered a significant concussion, and as the weeks went on, my symptoms kept getting worse and worse. I wasn't able to look at screens without getting severely nauseous and having an instant headache. I knew after a few weeks that this recovery would be longer and more intense than previous recoveries, and I started physical and occupational therapy.

After years of a co-pay medical plan, my husband and I chose the high-deductible plan for 2023 since we normally had few doctor visits a year and wanted to save money on premiums. Unfortunately, this meant higher out-of-pocket expenses at the beginning of the year while I worked to hit my deductible.

While the initial therapies were helpful, I needed increasing medical care, some of which were not covered by insurance. I went to a three-day intense concussion rehabilitation program at a clinic, which was helpful, but not a cure-all. I still needed additional therapies, including acupuncture, physical therapy, and craniosacral massages.

I couldn't work for months

Because of my severe sensitivity to screens, I was unable to write for months. I could use my computer for short periods but could not focus on longer, more intense work. It was a frustrating, humbling experience. Not being able to earn an income while spending more on medical bills and therapies was tough.

This combination postponed our goal of hitting our Roth IRA contribution maximum through automatic contribution. I knew we needed to direct our finances on our day-to-day expenses and rebuild the savings we used to pay medical bills. Although it was disappointing to give up on this goal, it was the right decision.

I'm more determined to work toward my financial goals

Although I'm not 100% symptom-free yet, my concussion symptoms have reduced. I made it through the most expensive and intense part of my recovery, and I am grateful for what I was able to accomplish with the professional help I received.

Now that I can work again and have wrapped up most of my therapy, I'm revisiting our goal of automatic Roth IRA contributions for 2025. The great thing about goals is that you can restart anytime, even if you get derailed.

It was a tough year mentally and physically, but 2024 made me stronger and more determined to meet our financial freedom goals in the future. It was also a great reminder that it's nearly impossible to build wealth when you don't have your health.