Are You Ready to Handle These Unexpected Retirement Expenses?

Learn how to prepare for surprise retirement expenses using emergency savings accounts, insurance and other strategies.

Step #4—Retirement Preparedness Checklist: Put Away 12 Months of Expenses in an Emergency Fund

Harold Wilson, former British Prime Minister joked, “I am an optimist, but I’m an optimist who carries a raincoat.” You probably already have some cash stored away for the inevitable rainy day. Indeed, you should have savings for those one-time, non-recurring expenses that come up—a water heater replacement, a roof repair, the auto insurance deductible—but this savings should actually be …