Monday, May 22, 2006

Safety Net

This weekend I have been thinking a lot about how important it is to have a safety net. Safety net, nest egg, savings account. Call it whatever you want to it is all the same. Lately, it seems like financial concerns are coming up all around me and not just because I work at a financial institution. It does not seem that people nowadays plan for the worst case scenario. I do not want to sound like a pessimist, but what if my two income household becomes a single income household overnight? Doesn't that seem like something I should plan for now? Better yet, everyone should think about?
There is such a big emphasis on planning for your children's future and making sure you save up for a good college. How about saving for a mortgage payment? I think that financial planners should focus on the real facts that a single or married without kids household would realistically need to save for. Of course, retirement is another thing to save for. However, having somewhere to live for a couple months if out of work would be high on my list also!

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