It's been said that "The only constant in life is change." But don't let unexpected events stop you from achieving your financial goals, like retirement. Your financial advisor will work with you to "stress test" your strategy and build in ways to help ensure your strategy stays on track.
It's always good to have a cushion. And an emergency fund can provide just that. If something unexpected happens —like a large home repair or having to cover expenses in the event you lose your job. Your emergency fund may include savings and checking accounts, money market funds or certificates of deposit (CDs).
If you're still working, we think it's a good idea to have three to six months’ worth of living expenses as emergency cash. You should also consider maintaining access to a line of credit (like personal line of credit or home equity), which can supplement emergency cash if you need it.
Providing for your family's future is all about developing a proactive strategy to help ensure they have the financial resources they need if something were to happen to you. Insurance is designed to help address these risks by protecting what is too expensive to replace, like your ability to earn an income. Life and disability insurance are options to consider to help protect against some of life's "what ifs."
How much insurance you may need depends on your specific situation, so talk with your Edward Jones financial advisor about what makes sense for you and your family.
The stock market will have its ups and downs. But how you react to these swings usually has more of an impact on reaching your financial goals than the decline itself. Putting a strategy in place with your Edward Jones financial advisor can help you stay on track, no matter what the market does in the short term.
Learn more about ways you can take the emotions out of investing to make better investment choices.
Edward Jones is a licensed insurance producer in all states and Washington, D.C., through Edward D. Jones & Co., L.P. and in California, New Mexico, and Massachusetts through Edward Jones Insurance Agency of California, L.L.C.; Edward Jones Insurance Agency of New Mexico, L.L.C.; and Edward Jones Insurance Agency of Massachusetts, L.L.C.