We’ve all heard that when it comes to investing your money, a long-term focus is an essential ingredient to success. But planning for short-term emergencies allows you to maintain this focus when life invariably throws you a curveball. If you build your dream home in Columbia, MO, you want a solid foundation for the structure to rest on. I remind clients that when we work to build their financial dream, a sound financial foundation is equally important.
Setting up an emergency fund lets you have the confidence and financial security to place your other monetary resources in long-term investment vehicles and leave them there during market fluctuations. It also allows you to accept a higher level of financial risk with the investments you have as this fully funded rainy day fund provides a great sense of financial security knowing your family is protected in case of the unexpected.
As a financial planner in Columbia, MO, I frequently discuss how much money should be available for an emergency fund and, even more importantly, what kind of accounts you should use to build these funds. Check out my Columbia Tribune article where I’ve addressed these questions.
As a financial planner specializing in comprehensive financial planning, Tim enjoys helping clients in Columbia, MO with money investing and other financial issues.
If you would like to learn more about investing money and other personal topics serviced by financial planners please contact us at 573-447-7007. Clarity Financial, LLC is a fee-only financial advisory firm in Columbia, MO. Appointments are welcome and initial consultations are free.
Certified Financial Planner™ professional
Member of the Alliance of Comprehensive Planners
Member of the National Association of Personal Financial Advisors
Enrolled Agent designation from the IRS
This article is the property of Clarity Financial LLC.
Connect with Us