Creating A Rainy Day Fund For Your Personal Life In Retirement

It’s not uncommon to hear a financial expert preach the importance of having a rainy day fund equal to 3-6 months of expenses to cover emergencies or unexpected costs. While that’s very important, what’s often missed is that the same idea should be applied to your personal life in retirement as well.

It’s one reason why I ask people, “Where is your retirement sanctuary? Where do you go or who do you turn to after a bad day?”

On the surface, it may seem like a depressing question to think about and answer but the reality is, a successful retirement isn’t one without problems, but one in which you learn to overcome them. Therefore, in order to make a successful transition from work-life to home life, it’s important to understand how you deal with bad days, hard times, and even suffering.

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Damian J. Sylvia

220 Monmouth Road

Oakhurst, NJ 07755