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Michael A. Milazzo, CLU, ChFC
Registered Principal
The Meridian Financial Company
3350 Club Villas Dr SE, Unit #1303
Southport, NC 28461
Phone: 631-979-4223
Fax: 910-854-0002
Email: meridian@ae.cadaretgrant.com
Website: www.merfinco.com
January/February 2018
In Case of Emergency
Are you prepared for a large, unexpected expense? What would you do if the roof were to leak, the car were to need a new transmission or you were to have a medical emergency? Would you charge the amount to a high-interest-rate credit card or turn to your emergency fund to cover the cost? If you don’t have an emergency fund, here’s how to build one.
Start small
Your goal should be to set aside three to six months’ worth of living expenses. While that goal may seem daunting at first, you can do it — even if it takes a while. Deposit a specific amount from each paycheck into your emergency fund. Put any bonus, tax refund or other windfall into your fund instead of spending it. If you get a raise, increase the amount you’re contributing.
Separate account
Your emergency fund should be in an account that you can access quickly and easily. You don’t want to have to sell investments at an inopportune time or have to pay penalties or fees for taking your money out. But you will want to keep your fund separate from the checking account you use to pay your regular bills.
Emergency only
You should tap into your emergency fund only for true emergencies. Don’t use it for vacation, impulse purchases or even an anticipated large expense, such as a home improvement. If you do need emergency relief, replenish the fund as soon as possible.
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Securities and Advisory Services offered through Cadaret, Grant & Co, Inc, a Registered Investment Advisor and Member FINRA/SIPC. The Meridian Financial Company and Cadaret, Grant & Co., Inc. are separate entities. I am registered to sell Securities in the following States: NY, NJ, PA, NC, FL, ID.
The Meridian Financial Company and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.
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