Financial Myth: You Need Three to Six Months of Emergency Funds Saved

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In this episode, we discuss the myth that everyone should have three to six months' worth of expenses in their emergency fund. 

We argue that this advice is overly generic and fails to consider individual circumstances and lifestyles. We emphasize the importance of understanding your expenses and income over a prolonged period of time and tailoring the emergency fund accordingly. 

We also explore different tools and strategies for accessing cash in case of emergencies, such as credit cards, loans, home equity lines of credit, investment accounts, and retirement accounts. As we bring the episode to a close we highlight the benefits of having a plan and understanding the various options available.

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About Your Co-Hosts:

Travis Maus has been in financial services for over fifteen years. He is a Senior Wealth Manager and Chief Executive Officer at S.E.E.D. Planning Group.

Steve Campbell has over a decade of experience in the industry and serves as Chief Brand Officer at S.E.E.D. Planning Group.