You bought a home to build wealth. It's your greatest asset. But now even if you can afford to pay the mortgage, your home is worth less than you paid for it. You've dutifully socked money away in your 401(k), IRA or another retirement account and the value of those investments has dwindled. Those credit cards? You know you should pay them off, but the interest rates are rising at the same time you're trying to whittle down the balance.
The financial pain for many Americans is intense, but would likely feel less acute if you had enough savings on hand. If you had money you could get to at any moment, it could cushion the difference between your income and your expenses, especially if you've been laid off. More ...
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