In recent years, health authorities have been urging that nations and businesses should prepare for the possibility of an avian influenza pandemic. Recent news of a serious swine flu outbreak in Mexico has prompted the World Health Organization to declare a phase 4 pandemic alert, meaning that the potential for community-wide outbreaks has been confirmed, but that a full-blown pandemic is not yet certain. Read the full article

With short-term Treasuries yielding fractions of a percent, people who need safe investments find they're getting very little for their money. What are the best options for low-risk cash investments right now? Read the full article

Having discussed why having an emergency fund is a good idea and how big an emergency fund needs to be, I’d now like to talk about investments suitable for an emergency fund. Read the full article

Congress voted down the Troubled Assets Relief Program (“TARP”) legislation, much to the chagrin of the financial markets. At the moment, the markets continue to be in distress, despite a “dead cat bounce” in stocks today. What should you be doing in terms of your household finances? Read the full article

In my first post on emergency funds, I discussed why having an emergency fund is a wise idea. The next question is, how big does an emergency fund need to be? Read the full article

As residents of Houston and Galveston grapple with the aftermath of Hurricane Ike, it strikes me that every year, some part of the US must deal with a natural disaster. Hurricanes in the Gulf and southeastern states, wildfires and earthquakes in California, and flooding in the Midwest often leave lasting consequences for those living in the affected areas.
Although such events happen relatively infrequently in New England, the region is hardly immune from the possibility of a serious natural disaster. Being prepared for a disaster should be an important part of every household’s risk management strategy. Read the full article

Most financial planners advise their clients to have money set aside in an emergency fund. Occasionally my clients ask me why they need to keep money on hand for emergencies.

If you’re like most Americans, once you’ve paid your credit card bills, mortgage, and your other bills, there’s not much left of your paycheck. If you’re someone who lives far below his or her means (by this, I mean that you have two or three thousand dollars a month or more left unspent from your income every month) you have the capacity to cover many typical unexpected expenses, like the sudden failure of your heating system in the middle of winter. If that's your situation, you’re in a position to cover emergency expenses from your cash flow – unless the emergency happened to be the loss of your job, in which case you’d still be in trouble.

The fact is, though, that few households have large amounts of cash flow that go unused from month to month. Read the full article

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