If your only remedy is to sell your stock investments, you might end up taking a loss right before the stock makes a big gain, depending on the timing of the stock markets and your emergency.Ī general rule of thumb: You should have six months’ income stashed away in an emergency fund so that you can respond to short-term financial needs without having to sell off your stocks. Build an Emergency FundĪnything from having a car break down to losing your job can leave you in unexpectedly dire financial straits. It’s just a better investment in the end. ![]() Before you consider investing, make sure you’ve paid down any and all high-interest debt. Building Wealth Pay Off High-Interest DebtĪs good as returns from the stock market can be, they’re never going to top the interest rates of your credit cards over the long run.
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