One of my favorite things to do when I was a kid was to go to the mountains with my family. I had a lot of fun with my siblings playing in the trees and enjoying the outdoors. I also was intrigued by watching the squirrels gather nuts and storing them in trees for later consumption. With all the current financial turmoil caused by COVID-19, we should learn from the squirrels and get back to basic financial planning. How many of us have six months of living expenses in the bank as a reserve? Do we have funds in retirement accounts in case we are forced into early retirement? Squirrels do not have debt, just assets (nuts and trees). If we have credit card debt, do we have a plan to get the cards paid off? Now is the time to re-evaluate our finances and get back to basic financial planning.
Nuts and squirrels
June 03, 2020