MoneyWise | January 24, 2019

Your Financial Lifeboat (Emergency Fund)

Show Notes

There are two types of people in the world: Those whose finances stay safely afloat, and those who sink slowly but surely into debt.  Surprisingly, the difference has little to do with how much they earn.  On this MoneyWise, Rob West and Steve Moore show you how to properly inflate your Financial Lifeboat – better known as your Emergency Fund – so you’re better prepared for life’s unexpected storms.  

Next, they answer your questions at (800) 525-7000 and questions@moneywise.org about the following:

  • If you see differing return addresses on the letters for the same organizations you regularly give to, should that concern you?
  • Is dollar-cost averaging a good idea when it comes to investing? 
  • When both spouses aren’t good about paying bill, what are some creative ways to overcome this?
  • I’m 67 and debt free. I was laid off last November, and now have a part time job. My
  • If you’re 67 and debt free but your current income doesn’t meet my monthly expenses because you were laid off recently, how can you better manage your money?
  • I’m retirement age and have no debt. I
  • If you have over $1,000,000 in the stock market,  should you cash that stock in and invest in bonds instead?

At the end of the program, Steve mentioned the book, Simplifying the Money Conversation, by Ron Blue.  You’ll find it right here on our website (MoneyWise.org).  You can connect with a MoneyWise Coach or access our other books and many free helpful resources.  You can also find us on Facebook (MoneyWise Media) and join the conversation. Thanks for your prayerful and financial support that helps keep MoneyWise on the air.  And if you'd like to help, just click the Donate tab at the top of the page.

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