Emergency Funds — How Much You Really Need and Where to Keep Them (Episode 25-005)
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Emergency Funds — How Much You Really Need and Where to Keep Them (Episode 25-005)
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Last year, Hurricane Helene flooded my home and office. Floors, kitchen, furniture — everything was destroyed. Insurance was slow, FEMA was no help, and for months I had to live hours away while rebuilding. The only reason I wasn’t financially ruined? I had an emergency fund.
In this episode of the LawyerFI Podcast, we dig into what an emergency fund really is, how much you should save, where to keep it, and whether you even need one at all.
🔑 What You’ll Learn in This Episode:
Why an emergency fund matters — and how it saved me after a natural disaster
What actually counts as a financial emergency (and what doesn’t)
How much you should save: $1,000? Three months? A year?
Strategies to build your emergency fund faster
The best (and safest) places to keep your money
Whether credit cards, investments, or lines of credit can replace an emergency fund
📚 Resources Mentioned:
Empower App (Budget & Cash Flow Tool): http://bit.ly/4gwPdZU
Florida Family Law Financial Affidavit: http://bit.ly/3W0PfzT
Dave Ramsey: The 7 Baby Steps: http://bit.ly/3Vr9BlN
Ramit Sethi, I Will Teach You to Be Rich: http://bit.ly/3IdUMQy
Clark Howard: Best High-Yield Savings Accounts: http://bit.ly/4nNiH8C
Vanguard Cash Plus Account: http://bit.ly/4nENbt5
Fidelity Cash Management Account: http://bit.ly/4pvYPbL
Big Ern (Early Retirement Now): The Emergency Fund Debate: http://bit.ly/3KffRL1
Listen & Subscribe
If you found this episode helpful, please like, comment, and subscribe—and share it with another lawyer or professional who wants to take control of their money.
More resources at www.LawyerFI.com
This episode is brought to you by Florida-based Collaborative Family Law Attorney Adam B. Cordover. Family Diplomacy: A Collaborative Law Firm, serving professionals across Florida with dignity and privacy in divorce. Learn more at www.familydiplomacy.com or call 813-443-0615.
We accept clients in every county in Florida and have offices by appointment in Tampa, St. Petersburg, and Sarasota. Contact us to schedule a confidential virtual planning meeting.
What about you? Do you keep an emergency fund — or do you rely on credit cards, investments, or other resources? Share your thoughts in the comments!