For the longest time in wealth management the recommended amount of money to have in an emergency fund has been three to six months of non-discretionary expenses (mortgage, rent, utilities, groceries).
Typically, three months was the recommendation for a single individual or married couple with dual incomes. Six months was generally for married couples with one income earner.
Every so often, something comes along challenging conventional wisdom, and that can be a good thing. In this case, it’s a pandemic that’s changing how we think – about many things.
The pandemic has wreaked havoc on many lives. People have been …Read More