Preparing your emergency funds

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As the recent hurricanes in Texas, Florida, and Puerto Rico have shown us, disasters can strike at any time. (WLS)

As the recent hurricanes in Texas, Florida, and Puerto Rico have shown us, disasters can strike at any time. And while Chicago may not be in danger of a hurricane, we do need to be prepared for potential tornadoes, flooding, and even fires. That's why it's important to always have some emergency funds stashed into your finances. According to a recent report, nearly six in 10 Americans can't cover $500 or $1,000 in unplanned expenses. Most experts generally recommend maintaining an emergency fund that can sustain living expenses for three to six months. Kathy Roeser, the managing director and wealth advisor with Morgan Stanley in Chicago, sat down with Eyewitness News to talk about ways to contribute to your family's emergency funds.

Links:
http://www.morganstanley.com/
http://fa.morganstanley.com/theroesergroup/

Related Topics:
financemoney
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