Plan for major life events from "summary" of The Barefoot Investor by Scott Pape
Planning for major life events is crucial. You need to be prepared for the unexpected, whether it's a job loss, a health crisis, or a natural disaster. Having a plan in place will give you peace of mind and help you navigate through tough times without going into panic mode. Start by setting up an emergency fund. This fund should have enough money to cover at least 3-6 months' worth of living expenses. This will give you a financial cushion in case of an emergency and prevent you from going into debt. Next, consider getting insurance coverage. Insurance can protect you and your family in case of unforeseen events like illness, accidents, or death. Make sure you hav...
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