All About Emergency Funds Greensboro NC

An emergency fund saves headache in Greensboro. Costly home repairs can set you back several hundred dollars. An emergency fund will keep you from having to choose between having your car back and having your lights on. And when a loved one is ill, you can concentrate on them and not think about how you will pay the bills.

Dennis Stearns
Stearns Financial Services Group, Inc.
(800) 881-7374
324 W. Wendover Avenue, Suite 204
Greensboro, NC
Expertises
Retirement Planning & Distribution Rules, Ongoing Investment Management, High Net Worth Client Needs, Planning Issues for Business Owners, Estate & Generational Planning Issues, College/Education Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, ChFc, MSFS

Gregory Yahn
Yahn Financial Planning
(336) 478-2363
7800 Airport Center Drive, Suite 401
Greensboro, NC
Expertises
Middle Income Client Needs, Investment Advice without Ongoing Management, Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

Ms. Bonnie Scull Cienek, CFP®
(336) 230-0071
333 N Greene St Ste 506
Greensboro, NC
Firm
Triad Financial Advisors, Inc.

Data Provided by:
Mr. William R. Savage Jr., CFP®
(336) 491-0891
301 N Elm St Ste 301
Greensboro, NC
Areas of Specialization
General Financial Planning
Key Considerations
Average Net Worth: $100,001 - $250,000

Average Income: $50,001 - $100,000

Profession: Not Applicable

Data Provided by:
Mr. R. Sherwood Greer, CFP®
(336) 272-5680
328 E. Market Street
Greensboro, NC
Firm
Oak Ridge Wealth Management

Data Provided by:
M.James McKee
Stearns Financial Services Group, Inc.
(800) 881-7374
324 W. Wendover Avenue, Suite 204
Greensboro, NC
Expertises
Ongoing Investment Management, High Net Worth Client Needs, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFA, CFP®, ChFc, CLU, CPA, MBA

Mr. Michael A. Robertson, CFP®
(336) 271-4333
300 North Greene Street
Greensboro, NC
Firm
Morgan Stanley Wealth Management
Areas of Specialization
Comprehensive Financial Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: $100,001 - $250,000

Profession: Self-Employed Business Owners

Data Provided by:
Mr. Wallace R. Johnson Iii, CFP®
(336) 458-1050
300 N Greene St
Greensboro, NC
Firm
Diversified Trust Company

Data Provided by:
Mr. Arthur A. Herzog Iii, CFP®
(336) 294-1811
3515 W Market St Ste 100
Greensboro, NC
Firm
Pinsker Wealth Management

Data Provided by:
Mr. Daniel T. Billings, CFP®
(336) 275-0314
226 S Elm St Ste B
Greensboro, NC
Firm
Southeast Financial Services, Inc
Areas of Specialization
Asset Allocation, Budget Development, Comprehensive Financial Planning, Estate Planning, Retirement Planning

Data Provided by:
Data Provided by:

All About Emergency Funds

These days life is full of surprises. One day we are making ends meet with something left over and then a day comes when all of that can change. One day we are gainfully employed, the next we are given a pink slip. With the unpredictability of day to day living, having an emergency fund saves worry over finances when you are already worried over other things.

What is an emergency fund? Well, it is money that you have set aside for unforeseen situations. It could be an illness in the family, loss of a job, an accident, home repairs, or a natural disaster. Whatever it is, such challenges can deplete a bank account and lead us into financial disaster.

The thing about life is that unforeseen circumstances can happen to anyone and everyone. No one is exempt from them. The best we can do is to prepare in advance so that we are not focused on money. Historically an emergency fund is roughly equal to several months’ worth of income – however these days you should increase your emergency funds to 12 months of total monthly expenses.

That is a lot of money. When you add up all the household expenses you have we could be talking about $40,000. It is hard for most people to save a little, let alone that much money.

Don’t let this stun you into doing nothing. Starting anywhere is better than not starting at all. If you can manage to save $200 dollars a paycheck, then do it. Sure, it will take a while to build up an appreciable fund, but you will still have money put aside in the event that something happens.

One way to build your emergency fund when money is low is to use bonuses, raises, and tax refunds. Instead of buying extra goodies with that raise, take the extra money from the check and add it to what you are already putting away. A tax refund will build up that emergency fund quickly.

An emergency fund saves headache. Costly home repairs can set you back several hundred dollars. An emergency fund will keep you from having to choose between having your car back and having your lights on. And when a loved one is ill, you can concentrate on them and not think about how you will pay the bills.

Start an emergency fund today. Whatever you can contribute is good. Encourage the entire family to help out. While you are building a cushion for possible emergencies, you are also teaching them to save money.

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