April 9, 2019
In this issue we discuss financial independence, the impact of technology on financial planning and a tribute to the late John Bogle.
Saving for an emergency fund is hard. Here’s how to start.
- Tak baby steps: When just starting out, ignore the advice of three to six months savings for now. Instead, just try to save $500. If the goal feels achievable, you’ll be much more motivated to get started. The momentum and feeling of success from achieving your goal will help you take the next step. Focus on getting started. Once you have saved $500, keep going!
- Think of it as giving the future you a loan: Imagine sitting at a table with a future version of you. Consider what emergency future you might be facing. Get specific: Have you wrecked your car? Is it a medical issue? Do you need to travel for a family emergency? Say yes to future you; drop it in your emergency fund.