🎵 "If I Had $1,000,000” – Protecting What You’ve Built (Barenaked Ladies)
- jessica97150
- Mar 2, 2025
- 2 min read
Updated: Apr 9
Money.
Not the fun part of this journey…but one of the most important.
Because here’s the reality:
👉 Cognitive decline and finances do not mix well
👉 And mistakes can happen fast
So if your spouse or loved one is still in a place where they can understand and participate—
👉 Start the conversations now
👉 In small doses
Not all at once.
Not overwhelming.
Just… start.
💬 Start With the Basics (While You Still Can)
These are not easy conversations.
But they are necessary.
Talk about:
Accounts
Access
Responsibilities
Future planning
👉 Do it together, while they can still be part of the decisions
That matters—for both of you.
FREE CHECKLIST HERE-
🏦 Beneficiaries & Account Setup
This is one of the easiest—and most overlooked—steps.
✔️ Check all beneficiaries:
Bank accounts
Retirement accounts
Life insurance
✔️ Update if needed
💡 Limit Exposure in Joint Accounts
Keep lower balances in:
Joint checking
Joint savings
Why?
👉 Reduces risk of:
Accidental spending
Scams
Unauthorized transfers
You can keep larger funds in accounts with more control/oversight.
💳 Credit Cards – Lock It Down Early
This is a big one.
From what I’ve seen (and heard from support groups):
👉 Spending behavior can change
👉 Inhibitions can drop
👉 Judgment can shift quickly
That can lead to:
Overspending
Online purchases
Falling for scams
✔️ What We Did
Limited the number of cards he can access
Lowered spending limits
Set up real-time alerts (text/email)
👉 Every purchase = notification
It gives you visibility before things spiral.
🚨 Protect Against Scams & New Accounts
This is one of the BEST things you can do early:
👉 Freeze credit files
This prevents:
New credit cards being opened
Loans taken out in their name
Identity fraud
🔒 How to Freeze Credit
You’ll need to do this with all three bureaus:
👉 It’s free👉 You can temporarily “unfreeze” if needed
⚖️ Other Financial “To-Do’s” (Do these early)
If you haven’t already, start thinking about:
📄 Legal Protections
Durable Power of Attorney (financial)
Healthcare Power of Attorney
Living Will
RevocableLiving Trust for Assets
📊 Account Visibility
Make sure YOU can:
Access accounts
Pay bills
Monitor activity
📉 Simplify Everything
Consolidate accounts if possible
Reduce complexity
Automate bills where it makes sense
👉 Less confusion = fewer mistakes
💡 Real Talk
This is hard.
Because it can feel like:
Taking away independence
Taking control
Crossing a line
But the truth is:
👉 You are protecting them
👉 You are protecting your future
👉 You are protecting everything you’ve built together
🎵 Final Thought
We all think:
“If I had a million dollars…”
But this isn’t about how much you have.
It’s about protecting what you do have—from a disease that doesn’t understand consequences.
I’m not a medical professional—just sharing what we’ve experienced and learned along the way. Please talk to your doctor about what’s right for you.
"If I had a million dollars" by Barenaked Ladies
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