Why Retirees Still Need an Emergency Fund

Why Retirees Still Need an Emergency Fund

Chances are good you've probably heard that you need an emergency fund large enough to cover three to six months of living expenses. Having money in an emergency savings account can help you cover unexpected expenses or cope with a reduction in income resulting from a job loss. While you no longer might be at risk of a job loss causing an interruption of income, there's still a huge chance that you could face unexpected expenses.