Do We Undervalue Financial Flexibility Too Much?
The Wall Street Journal published an article this morning by Jonathan Clements, a financial writer I've long followed. Sadly, Clements is facing a terminal cancer diagnosis, and his article offers insights into personal finance management during life's most challenging moments. One particular line struck me:
Emergency Funds in Retirement
As someone transitions into retirement, it's worth revisiting the "why" behind your emergency fund. While there's still a place for an emergency fund for some, it may not carry the same weight it did during your working years. In other words, what worked well during your accumulation years might not be the most efficient strategy moving forward.