Savings & Retirement
Covid Is Making an Emergency Fund Look Like a Great Idea
Nervous Americans are getting serious about setting aside cash for the unexpected.
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Financial advisers have been begging their clients for years to put money aside for emergencies. Americans are finally listening.
The idea of the emergency fund is to make sure you have easily accessible cash — usually three to 12 months of expenses — in the event of, say, a global pandemic. Prior to March, many financial advisers had trouble persuading clients to build up a cushion, rather than buy stocks or make other investments that were either risky or tied up.