Protecting Long-Term Investments to Home Renovation Costs
JAKARTA, HARIANHALUAN.COM – Everyone needs to set up an emergency fund. You see, an emergency fund is a fund that is prepared to deal with unknown events and in an emergency. Therefore, emergency funds should be kept in separate accounts.
The use of emergency funds is important for all ages, including parents of retirees. The availability of an emergency fund will be very helpful if there is a sudden need or unwanted things happen.
Also read: Don’t get hit! There was a breach in the stock investment account
Quoted by Okezone from The Balance, Sunday (14/2/2021), the following are the benefits of emergency funds for retirees:
Protects long-term investment. In the event of a recession it will withdraw money from the investment account. Sehinngga causes losses. If you have money in an emergency savings account, it can be used in advance until your financial condition recovers.
Also read: PPnBM relaxation stimulates the automotive industry and the national economy
Assistance in covering medical costs. Emergency savings can fill the gap when it comes to funding for medical care. If you do not have an emergency fund, when there are health problems or accidents it will be very difficult because the costs are not small. Especially if the insurance does not cover the full medical costs.
Relieve the burden of losing your job. Retirees who have part-time jobs or partners who are still working may not last forever. If expelled or resigned from work, an emergency fund can provide a temporary source of income.
Also Read: Weekend Holidays, Time to Shop for Basic Needs at Pasar Raya Padang
Covers home improvements. If you have mobility problems, such as making repairs to your home, such as adding to replace a leaky roof, installing a handle in the bathroom, or widening aisles and doors, an emergency fund can help to pay for it. So there is no need to use a pension fund. (& *)