Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What You Need To Do Before And After The What Ifs
Jan 12, 2025
Suze reflects on the recent LA Wildfires, emphasizing the importance of planning for life's unexpected challenges. She shares impactful stories that highlight the necessity of having an emergency savings account. Listeners are encouraged to prepare for the 'what ifs' of life with practical advice. Additionally, Suze discusses what steps to take after a catastrophic event, stressing the need to protect financial futures and navigate the complexities of insurance. It's all about being proactive and ready for anything!
28:31
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Quick takeaways
- Building an emergency savings account capable of supporting you for at least a year is essential for financial security during crises.
- Homeowners must understand their insurance policies thoroughly to ensure proper coverage and avoid confusion during catastrophic events like wildfires.
Deep dives
The Importance of Emergency Savings
Establishing an emergency savings account is crucial for financial security, especially in times of unforeseen crises. Having a fund that can support you for at least a year can make a significant difference if disaster strikes, allowing you to manage expenses while rebuilding. Many individuals impacted by recent fires in Los Angeles have been left without jobs due to the destruction of their workplaces, highlighting how vital financial preparedness is in sustaining one’s income. The lack of savings leaves many feeling helpless, underscoring the necessity of prioritizing an emergency fund.
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