In each new installment of the Sum180 Webcast, we discuss issues around your money and share tips to help you reach your goals.
We’re talking about the emergency funds crisis.
The issue: Emergency funds crisis
The issue is the severe lack of emergency funds for many of us around the country. I’m thinking of one client, Stephanie, who is 49 years old. She came to us a few months ago with a big concern. Her husband had been unemployed for 18 months. Happily, he had just gotten a job, and they were excited for him to get started working again. But during that 18 month period, expenses had severely tapped their savings. They were afraid of how they were going to rebuild their emergency funds.
They really had two key questions:
1) How much to rebuild in terms of emergency funds?
2) How much damage had been done? Were they still going to be able to retire comfortably in the future?
Please play the video to hear my advice for Stephanie.
The question: I’m finally making good money. What should I be doing with my extra money?
We have time for one question tonight, and I’ve selected one from Terryl, who is a 39 year old paint salesman. He asks, “When I finally started making good sales commissions, I found myself buying stuff, like a new TV and a road bike. I don’t feel right about buying more stuff. What should I be doing with my money?”
Please play the video to hear my advice for Terryl.
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