An emergency money fund is a freedom fund, you say. Why?
Money is a tool to help you have a better life. It’s not to be worshipped – it’s a means to security. Everyone, preferably, should have at least 6 months’ worth of net income set aside. You’ll sleep better.
You endured a life-changing financial drama. What happened?
My dad passed away suddenly when I was 14 and I saw my mother fumble with the finances for the first time. I vowed that would never, ever happen to me. I wanted to cut to the chase on money issues.
You say young people cannot skimp on health insurance.
They change jobs more often than Americans ever have. I tell them, Your health is your biggest asset in life. You have to protect it. We all need insurance for every minute we’re alive.
Why are so few people good at managing their money?
We’re not taught it in school. People tend to have their homespun way of dealing with finances, when there are formulas for what to do and how to do it. I say, Embrace it. Let your money work for you.
Get our ‘docs in a row,’ you say. Why?
If you have a child, you need a legal guardian and the papers to prove it. The most valuable decisions you make in life are those that affect your children. This goes well beyond having a will.