We all need savings for life’s many financial surprises. Here’s how to build them up. Life has a way of hitting us with unplanned expenses. You never know when your car might break down, your roof might spring a leak, or an injury might land you in the hospital with a whopping bill to boot.
An emergency can strike when you least expect it. Maybe your car breaks down, or medical bills start piling up. Whatever the reason, it can be frustrating, especially if you are short on funds. Situations like that may make you wonder if cashing out your 401(k) is the right move. Typically, people have a significant
These days you can live a pretty much cash-free life. But it’s smart to have at least some greenbacks on hand for emergencies – a collection of lucre that I call the “cash cache.” To be clear: This is not an emergency fund. It’s money you keep on hand at home, but separate from your
Everyone experiences an unexpected financial emergency at one point or another. Whether it’s a job loss, medical emergency or even a natural disaster like the devastating hurricanes that recently hit Texas, Florida and the Caribbean, the sad reality is that there are any number of unexpected emergencies that cause people to lose everything they have
Work productivity can grind to a halt when you experience personal or family emergencies. Taking “vacation” time to cope isn’t always possible for freelancers who get paid by their work output. Ultimately, your best bet is preparing for the unexpected in advance. While work is important, taking time to deal with what’s going on in
With more baby boomers moving into retirement every day, the wealth locked up in their homes seems ripe for the picking. And a relatively new way to put that wealth to work–the standby reverse mortgage strategy–is garnering increasing attention. Some researchers say the strategy can increase the longevity of a retiree’s portfolio by opening the