Are You Prepared for an Emergency?

I recently spoke with some family members in the Northeast who lost power during a  big storm that rolled through. It took them four days to get power back. While they were able to get by just fine, it got me thinking about the importance of being prepared for emergencies. I know I’ve talked about such preparation in the past, but I feel like it’s something that should be brought up from time to time as it’s very important. As you plan for the future and set goals, make sure you are also preparing for the unexpected. That means having an emergency fund saved up or having a plan for divesting particular assets as a way to pay for unexpected expenses (i.e. medical bills, emergency home repairs, etc.). Having an emergency fund or emergency plan can go a long way towards protecting your nest egg and keeping you on track to meet your goals. Many people don’t think to build up an emergency fund and thus put all their hard work and savings at risk and don’t truly realize it. If you don’t have one, don’t worry, it’s never to late to start saving for an emergency. If you need help getting started, you should speak with a certified financial planner or wealth manager. So, are you prepared for an emergency?