Fortify Your Emergency Fund
Now is your last chance to fortify your emergency fund before you retire. Thinking that things will work out similarly to how they have been during your working years is a mistake that could cost you more than just your savings.
For example, during your youth, you may have been able to borrow money during emergencies. Thanks to your steadily rising income from bonuses and promotions, paying it all back wasn’t all that difficult.
But you have to remember that your income could be way smaller during your golden years, so this may no longer be a viable option. And, let’s not forget, the coronavirus pandemic has also proved how devastating it can be to have no emergency fund.
Make sure your fund is solid and can help see you through the worst of times before you retire!
