HONOLULU (KHON2) — A wildfire, a hurricane, a job loss, a Kona low, an unexpected medical expense. Life in Hawaiʻi offers beauty and risk at the same time. Financial planners indicate that preparation matters long before trouble arrives, and one of the strongest tools is an emergency fund.
Mark Henry, CEO f Alloy Wealth Management, said many households misunderstand how these funds work and where the money should live.
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“The rules for an emergency fund are quite unclear. How much do you need?” Henry explained.
He said the answer depends on how someone earns a living and how quickly that income could return after a disruption…