Natalie Colley Quoted by Wall Street Journal on Finances after Losing a Job
By: Francis Financial
November 3, 2021
Natalie Colley, a Certified Financial Planner™ at Francis Financial has recently been quoted by The Wall Street Journal on how a couple should handle their finances after they lost their jobs during the pandemic.
“First, the couple should focus on building up an emergency fund covering at least three months of expenses, or about $25,000. Ms. Colley also recommends they start saving for the eventual home purchase—enough for a 20% down payment,” Colley began.
“The couple should continue to contribute as much to their 401(k)s as their employer will match. After buying a home, they each should annually fund their 401(l)s to the legal limit—currently $19,500,” Colley added.
“Their ability to continue to work is their biggest asset, and they need to protect it,” Colley concludes.