Preparing for the worst financially

Everyday Wealth

Jean Chatzky

Investing, Business, Education

2 • 935 Ratings

🗓️ 31 August 2022

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

A lot of times we think we've got everything mapped out and we have a plan and the plan's going along just fine and then all of a sudden, something happens – like a health scare – and it completely changes everything. In this segment, Jean, Soledad, and Edelman Financial Engines wealth planner Jason Cowans talk about how to reevaluate your financial plan to help you make sure you’re prepared for the worst.

Neither Financial Engines Advisors L.L.C. nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances.

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Transcript

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0:00.0	This is Edelman Financial Engines Everyday Wealth,
0:06.6	This is Edelman Financial Engine's everyday wealth
0:10.1	with award-winning journalist Soledad O'Brien,
0:12.6	personal finance expert Jean Chatsky,
0:15.0	and Edelman Financial Engine's wealth planner,
0:17.6	Jason Cowles.
0:18.8	Jason, I can't even tell you, and Soledad, I don't know if you're experiencing the same thing,
0:25.5	because as we know you're a little younger than I am, but...
0:28.5	By like six months or something.
0:30.5	You know, take every month you've got, believe me.
0:33.2	No, look, I'm 58 years old, and in the last six months
0:38.4	can tell you story after story about people my age,
0:42.1	about friends of mine, pancreatic cancer, lymphoma, going
0:49.5	through stem cell transplants.
0:51.4	I mean, you know, people in my life that are dealing with these
0:56.2	things and I keep going home to my husband and saying, honey, we are old. I'm used to this
1:01.5	happening with my parents generation. I think of my parents
1:06.4	generation as the old ones and now it's my generation. And I'll go home and I'll say,
1:11.6	Elliot, are we prepared?
1:13.0	Are we ready to deal with it?
1:15.0	We've done the work, but going through these things
1:18.0	if you haven't had the opportunity
	...

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