3 Reasons You Need an Emergency Fund
Some people don't realize they need an emergency fund, and many others who do realize it keep putting off establishing one. That can be a costly mistake, because emergencies do happen.
Consider that "about one-half of full-time, full-year workers ages 51 to 54 experience an employer-related involuntary job separation after age 50 that substantially reduces earnings for years or leads to long-term unemployment," according to a report from The Urban Institute. Younger workers face possible job losses, too, and other financial disruptions can also occur, such as health setbacks or costly car repairs.
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Source Fool.com
