Emergency Savings

Today I want to talk about the power of emergency savings.

So here's the question, how do you as a 401k or 403b participant, become a 401k superhero to your future self? 

That is the question and these videos will give you the answers.  I’m Jonathon Schultheiss and welcome to the becoming a 401k superhero videos. 

Years ago when me and my wife were starting our family, we had set a goal of her becoming a stay at home mom. 

This was going to be a huge change.  You see, we would be going from a two income family to a one income family.  We would have to make some major changes. 

We worked hard to pay off debt and get our finances in order so that we could do this. 

We were finally ready.  We had things in order and my wife was ready to turn in her two week notice at work. 

We even practiced how she would do it and how she would stick to her guns if they tried to talk her out of it. 

The one thing we hadn’t planned for was, that exact same day that she would turn in her notice, I was let go form my job.    

Imagine the shock!  We had worked so hard for this.  What would we do?  What would happen to our goals? 

You see, when we were planning for all of this, one of the things we did was to create an emergency savings account for unexpected things that might come up.  Just like this.  

I have a mentor that taught me that if you have enough money to solve a problem, then you don’t have a problem.  

Did losing my job seam like a big problem?  Of course it did.  Did I have enough money saved to solve the problem?  I did. 

Was it a problem?  No, in fact, I would even argue that it was one of my biggest opportunities. 

Having that emergency savings account allowed me not to have to run out get a job the next day.  It allowed me to take my time and look for something that I was passionate about. 

I ended up getting into financial services and teaching people the process we used to get our finances in order. 

That process later become a book called FOCUS, The Financial Freedom Formula.  And I’ve given it away for free to hundreds of people. 

I would say, if I hadn’t have lost my job that day, I would have never gotten into the financial services.  And I would have never written this book, and you wouldn’t be watching this video. 

Having an emergency savings allowed me to turn what looked like a major problem, into my biggest career opportunity. 

Imagine how different your financial picture might be if you had an appropriate emergency savings. 

Want to learn more about my book and the process we used so you can get your finances in order and become a 401k superhero to your future self?  Click on the link below and get your free copy of Focused, The Financial Freedom Formula today.