10 Important Reasons to Build a Nest Egg – #2 May Surprise You!
It’s time to start building your nest egg if you haven’t started already. Having a nest egg to fall back on is important to your overall wellness and your financial security.
What Does Nest Egg Mean? A nest egg is a financial term for a large amount of money intended for a specific purpose. That money can be in cash, savings, or investments.
Retirement is the number one reason for building a nest egg. Usually, it’s the only thing people talk about when discussing nest eggs. That’s because of how vitally important it is. Life comes at you faster than you would expect. You will reach retirement age before you know it.
You never know what life will throw at you. You might be planning to work until you die. Unfortunately, in today’s society, that seems like the only option for many people.
2. Forced Retirement
Another reason people leave the workforce early is to take care of ailing family members. With hospice care and long-term care being so outrageously expensive, many opt to care for aging parents or spouses at home.
3. Family Care
College is expensive. If you have kids, you might want to help them cover this difficult expense. If you don’t already have a retirement nest egg, you might want to rethink this.
Expect the unexpected. You never know when something might happen that will cost a bundle to fix. The AC might go out. A car might break down. Someone in the family might get sick or injured.
SWIPE UP FOR MORE!