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Emergency Funds After 50: Why They Matter More Than Ever
Trivia: What famous physicist said, "The distinction between the past, present, and future is only a stubbornly persistent illusion"?
RetireHub
February 03, 2025
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Good morning from RetireHub! ☀️ Your Monday newsletter has landed.
Today, we’re discussing emergency funds. Plus, the best deals and more to brighten your day.
When the biggest names in your industry take an interest, you know you're onto something.
That's the story with BOXABL. They've rethought housing by bringing assembly lines to new home construction. Not to mention, the company has gained the attention of investors like D.R. Horton. Where traditional homes take over 7 months to build, BOXABL factories can produce their signature Casita home in nearly four hours.
And they’re just getting started. BOXABL just announced a new $20,000 house called Baby Box. It’s a turnkey home designed for affordability, flexibility, and versatility. Perfect for disaster relief, workforce accommodations, community projects, or you just need extra space, the Baby Box is another great solution added to their product line.
Now, everyday investors can join them too. When BOXABL* last opened a Reg A investment opportunity, they maxed out the $75M regulatory limit, and they believe their new $20,000 house is the key to unlocking even greater potential.
Top Deals From Around The Web
We find the best daily online deals so you don’t have to!
Macy's Living Room Furniture: Shop a variety of couches and sofas at Macy's for your living room!
Lowe's The Back Aisle: Explore Lowe's Back Aisle for amazing deals on home improvement products.
Woot - Open Box Boxing: Save big on open-box deals at Woot! Don’t miss out on these exclusive offers.
What We’re Reading
Check out this free book—get it on Kindle before it’s gone!
 | By: Robert New In Colours of Death, Sergeant Thomas investigates a series of gruesome crimes, unraveling a mystery filled with vivid clues and chilling revelations. Set in a gritty, suspense-filled world, the casebook follows Thomas as he confronts dark secrets while trying to solve cases that lead into the murky depths of human nature and criminal minds. Each chapter brings a new twist, keeping readers on edge until the final discovery. |
On This Day in 1995, American astronaut Eileen Collins became the first woman to pilot a space shuttle, the Discovery.
RetireHub Poll
What type of emergencies do you feel most concerned about? |
Emergency Funds After 50: Why They Matter More Than Ever
As we age, life can present unexpected challenges—medical emergencies, home repairs, or other unplanned expenses. That's why having an emergency fund is crucial, especially after the age of 50. While building an emergency fund may have felt less urgent in the past, now is the perfect time to reassess your financial safety net. Here's why emergency funds matter more than ever:
Health Costs Can Rise
As we age, health issues tend to become more frequent. Medical bills, prescriptions, and the cost of long-term care can add up quickly. An emergency fund can help you manage these expenses without dipping into retirement savings or going into debt.
Job Insecurity or Retirement Transition
You might be thinking about transitioning into retirement or reducing your working hours, but job security can become uncertain. An emergency fund gives you peace of mind in case of job loss or if retirement comes earlier than expected.
Home Repairs and Maintenance
Homes built years ago often need repairs or upgrades. Whether it's a leaking roof, aging HVAC system, or unexpected appliance breakdown, having an emergency fund helps avoid the financial strain of large, unexpected home repairs.
Unexpected Family Support
You may find yourself helping a loved one—whether it’s a grandchild’s education or assisting an elderly relative. An emergency fund can provide the flexibility to support family members when needed, without derailing your financial plans.
How to Build an Emergency Fund
It’s never too late to start! Aim to save three to six months’ worth of living expenses. Begin by setting aside small, regular amounts in a high-interest savings account or a money market fund. Even if it’s just $100 a month, it adds up over time.
Planning for the unexpected is one of the smartest financial decisions you can make after 50. An emergency fund offers peace of mind, protecting you from life's financial surprises. Start building or strengthening your emergency fund today to safeguard your future and enjoy your golden years with confidence.
Yesterday’s Poll Results: What resources or support do you think are most needed to help seniors manage mental health?
The results show that staying connected is a top priority for seniors, with social activities being the most requested resource to combat loneliness. Accessible healthcare services are also high on the list, followed by counseling and therapy, and support groups. There’s a clear desire for more community-driven support to help manage mental health and improve overall well-being.
Thanks to the many of you who vote and comment every day. We love hearing from you!
Top comments & sentiments:
“I have had difficulty and know others who are on a waitlist for a counseling appointment for months or years before services are available. At that rate, it is often too late.”
“I think everything on the list is important. However, loneliness is most likely to lead to depression which then drives the need for counseling, therapy and healthcare.”
“My mother-in-law lived to be 94 but she was depressed and unhappy the last 10-15 years. I often think of how fulfilling those last 10-15 years could have been for her.”
While we can’t publish them all, we do read and appreciate every comment. Some comments are edited to make room for more contributions.
Senior Living News From Around the Web
From Corporate to Compassion: Embracing Purpose in Your Later Years
Are you thinking about shifting from a corporate career to something more fulfilling? Many people over 50 are exploring new paths that align with their passions, values, and desire to make a difference. Read more about how you can transition from a corporate environment to a compassionate, purpose-driven career.
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Longevity Tip of the Day
A key to long-term well-being is financial security. Start by reviewing your savings and investments to ensure they align with your goals. Consider speaking with a financial advisor to plan for retirement, build an emergency fund, and explore ways to generate passive income. The more you invest in your future now, the more peace of mind you’ll have as you age!
Slang Phrase of the Day
Phrase: Granola
Meaning: Describes someone who is earthy, nature-loving, and often associated with a healthy, organic lifestyle. It can also imply being a bit quirky or unconventional.
In a sentence: "Lena’s always hiking, making smoothies, and talking about sustainable living—she’s totally granola."
Good News of the Day
10-Year-Old Deaf Girl Blown Away by New Caption Glasses
A groundbreaking new technology is changing the lives of those with hearing impairments. A 10-year-old deaf girl receives a pair of innovative caption glasses that allow her to see spoken words in real-time. This heartwarming moment is a testament to how technology can bridge communication gaps and enhance everyday experiences.
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RetireHub Trivia
Want more trivia? Play our “Nostalgia Trivia Game” on our site! We add fresh questions daily, so there’s always something new to test your knowledge.
Not into trivia? No worries! We’ve got plenty of other fun games to enjoy, like:
What famous physicist said, "The distinction between the past, present, and future is only a stubbornly persistent illusion"? |
In 1972, NASA released an image of a galaxy that looked like a spiral _____. What was it called? |
What phenomenon is described as the feeling that you've experienced something before, even though it's happening for the first time? |
How was today's newsletter? |
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***RetireHub may share poll results with advertisers.