Prior to moving from Nevada to Indiana we took a life insurance policy loan and let that money sit in our checking account because we expected to have some “unexpected” moving expenses. The money sitting in our checking account was our cash cushion.
We talk about:
– The “unexpected” expenses that arose
– 02:34 Video footage of our moving caravan at
– How we paid for those unexpected expenses to recover our capital sooner
– The best place to keep a cash cushion
– How to build a cash cushion
– How to replenish a cash cushion on this episode of the Wealth Talks Podcast
Moving is one scenario that illustrates the importance of having a cash cushion but there are many more scenarios where having a cash cushion gives you freedom, and peace of mind.
What scenario can you think of where it would be helpful to have a cash cushion?