Importance of Emergency and Opportunity Funds
I always encourage young people who just entered the workforce to build up their Emergency Fund as soon as possible. Life is always unpredictable. You never know when you will lose your job or encounter personal finance crisis.
I am confident that this Opportunity Fund can be built up in March next year. However, I believe the short term market condition is not conducive for investing. My belief is only to invest during crisis times. In the mean time, I am compiling research on some of the stocks and other form of investments in this blog. Stay tune for more updates!
Join me in my investment journey and read my financial adventures for free! Through the sharing, my vision is to improve and change people’s lives. In school, we don’t learn how to budget, manage our finances, build wealth and invest our money. Instead, we are taught useless subjects which we would never put to use most of the times during our working lives.
Yet, managing our money is an important life skill that is critical to our survival in the society. Many people start to realize how it is importance of managing money only when they face the prospect of financial ruins, by then which would be too late for remedies. Thus, I started this blog to share articles on finances which I aspire to make a positive impact in others’ lives.
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Magically yours,
SG Wealth Builder
It’s great to hear that you’ve managed to saved enough for rainy day. As for your Opportunity fund, how much would you be targeting?
Hi, I am starting small. So my target is to build a war chest of SGD50,000. I will only invest during crisis times.
Having a six month emergency fund is so important. I was in a car accident and it really came in handy. Now we are trying to save again so we have one for the future.
How you are okay now.
Regards,
Gerald