Troutwood’s watching trees grow podcast continues last week’s conversation on the importance of emergency preparedness. Rachel joins Gene on the podcast to talk more in depth about accessing your assets in an emergency. When does liquidity and easy access to your money become too tempting and too accessible?
🟢 TIMESTAMPS 🟢
0:26 – Welcome
0:33 – Rachel joins today’s podcast about Liquidity
1:26 – Defining Liquidity
2:26 – Emergency Preparedness & Liquidity
2:41 – is Liquidity dangerous if it’s too easy to obtain?
3:00 – What are the Long term effects of pulling money from a 401k (before retirement)?
3:23 – How accessible is too accessible?
3:55 – A personal story
4:42 – Our education system has not prepared us for these situations
5:44 – What is the opportunity cost of liquidity
6:20 – Choices people are faced with every day
6:40 – Cash is the most liquid asset we have
8:06 – How would you cover an emergency?
9:00 – Liquidity is a financial term
9:32 – An emergency fund is one piece of a larger holistic plan
10:13 – A 401k is illiquid
11:12 – Power of the Roth IRA
12:14 – Do you have a pension fund, Rachel?
13:05 – Most of us don’t make a plan to get out of our house in a fire, but we should
13:25 – Our thinking becomes more emotional than cognitive in an emergency
14:21 – Building a plan for an emergency – before the emergency
14:45 – In a state of emergency, you’re not asking yourself “Is this an emergency?”
15:37 – End
★Members of the Troutwood team are fact checking and asking questions behind the scenes in every episode.
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Troutwood provides investment and financial content that helps to remove the fear of finance and replace it with knowledge and confidence. Retirement in America is changing from employer directed to employee directed. Our objective is to help prepare individuals for this change. To help people learn to invest with understanding. This channel allows us to share our passion for personal finance, the stock market, financial literacy, education, investing, and financial planning.
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