Encountering Speed Bumps Along the Way to Retirement
I didn't plan on it, but it happened. Earlier this year, a tree fell on my home and I ended up paying for repairs and dealing with the costs after deductions are accounted for. This leaves me with a little debt on my credit cards. My normal approach with credit cards has generally been to pay them in full at the end of each month. Unfortunately, I have to deal with some additional budgeting to pay off a larger balance than usual. I was hoping to keep this streak of not having any consumer debt as retirement nears and of course, when I'm fully retired. But these things happen. Fallen Tree One way I could combat these in the future is to have some of the following in place. EMERGENCY FUND - I'm told from others and reading financial posts, is 3-6 months of monthly expenses saved. These are hard to have on hand as I tend to invest more with my extra money. I need to probably divert some into this account to avoid any "emergencies" hence a tree falling on my roof a...