This is a question I’ve studied and asked people for many years now. The answers vary and also tend to change over time.
So how do YOU define financial safety for yourself? For your family?
- Having no debt?
- Lots of money in savings accounts?
- Enjoying a low-cost lifestyle?
- Being mortgage free?
- Earning a high income?
- Job security?
- Having lots of “stuff”?
What else? What, above all else, would help you sleep better at night and feel safe and secure when “life happens”? Because we all know it will.
Once you define what Financial Safety means to you, you get to work building it and maximizing it. There’s not much worse than financial stress and anxieties around money.
But go deeper than your first answer. Often times the true definition for you personally is a few layers behind your initial thought.