The Importance of Emergency Savings

Thomas Elms, CFP and Fritz Wood |

Life is full of the unexpected. While we can plan for many of life’s events, things always occur that are out of our control. Any of us can be one car accident away from a large repair bill or being physically unable to work. Therefore, emergency savings are critical and essential for long-term financial health. We all need a cushion of cash reserves to cover the unexpected.

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