Why Retirees Still Need an Emergency Fund
Chances are good you've probably heard that you need an emergency fund large enough to cover three to six months of living expenses. Having money in an emergency savings account can help you cover unexpected expenses or cope with a reduction in income resulting from a job loss.
Sometimes, however, people assume they'll no longer need this after retiring because they don't have to worry about losing their job.
The reality, however, is that it's just as important (if not more so) for seniors to have emergency savings after leaving the working world. There are a few key reasons why.
Source Fool.com
