The 2012 Recession and Financial Planning

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The Impact of the recession and how we save is a nice article from Forbes.

In it, the author discusses how the short and long-term savings have been impacted.  Based upon an 2009 survey of 25,000 Americans, the study shows changes over time.  As it relates to us, I think we’ve kept our focus on keeping the short-term (Emergency fund) lined up with our Longer term (Retirement).

Although, recently, we’ve had a change of heart on our Emergency Fund.  We’re not sitting at a 6 month cash reserve, and we do want to be better prepared for the eventual death of one (or both) of our paid-off automobiles.  With that in mind, we’ve shifted our focus over the next 6 months or so, to more aggressively build up our Cash Reserves.  We don’t anticipate any immediate need for gobs of cash, but we’d rather be prepared.  (No, I wasn’t a Boy Scout).


How about you?  Where do you sit in the Emergency Fund vs Retirement Savings?  

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