Once you have these add up, you now know your minimum monthly expenses. Next, determine how many months of expenses you’d feel comfortable with having set aside in a FDIC insured high interest savings account. Many retirees prefer to have 6-12 months in savings; whereas, other retires like to have a specific dollar amount (ex: $20,000). After you have decided which you’d prefer and the amount, then it’s time to either start building to that amount or rearranging your current portfolio if you don’t already have that amount in savings.
Determining the right amount to have in an emergency savings is an important part of living a secured retirement with peace of mind. Give us a call to speak to a Lockheed Martin retirement specialist who can help you determine the appropriate amount of emergency savings for your situation.
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Be sure and check back next week for more incredibly valuable information. Cheers!
Financial Planning and Investment Advisory offered by SWMG, LLC a Registered Investment Advisor.
Lockheed Martin Retirement Specialist is not an official title or professional designation nor is it conferred by Lockheed Martin on any individual or company.
Our Complementary consultation and free report are for informational purposes only and provided free without any obligation to utilize or retain our investment advisory services.
SMWG, LLC is not affiliated with or endorsed by Lockheed Martin Corporation. Our expertise comes from working with LMT employees for several years and helping them to retire with confidence.
Investing involves the risk of loss, including loss of principal. Past performance does not guarantee future results. Investment products are not FDIC insured, have no bank guarantee, and may gain or lose value. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will be profitable for a client’s investment portfolio.