We have a five-year-old border collie named Riley. He’s a smart dog and very active. So, my part in providing some activity for him is to take him for a walk each morning for anywhere from 45 minutes to an hour. As I am still working, this means hitting the trail by around 6am each day. Sometimes we walk the neighborhood, but other times we go to one of our favorite trails where he can be off leash. That’s what we did this past Monday. We went to Opal Hill in the Snooks Bottom area south of Fruita. At that hour of the day, besides three crows, we were the only ones on the trail. It’s a fun walk with numerous ups and downs and lots of rocks on the trail to maneuver around and over. We were nearing the end of our tour when something totally unexpected happened. As I was taking a step with my right foot, I felt it come to a sudden stop against something hard on the toe of my shoe. As I was falling forward, I was wondering just how bad this was going to hurt. My knees and hands hit the trail at the same time and then my arms slid forward and my belly and face found the dirt. Riley was ahead of me by about ten yards and as I looked up, he was still 10 yards away sniffing a pile left by another dog, clueless about what had just happened to his master. Then he looked at me laying on the ground, tilted his head as if to say, “What are you doing? Get up, we’re about at the car.” So, after taking a quick inventory and determining all parts were in working order, I got up and off we went.
This little episode set me to thinking about how quickly my walk had changed. A pleasant Monday morning hike one moment, and the next I was sprawled on the ground, with blood coming from my elbow and wondering if all parts were still unbroken.
Life itself can take those sudden, unsuspected changes. The transmission on the car blows up; a leaky pipe in the crawl space turns it into a swimming pool; a sudden illness and, all of a sudden, your nice little walk through life has dropped you face down in the trail.
The best thing you can do is to know that these things are inevitable and prepare financially for them. We call this your “emergency fund.” It’s a stash of cash, usually in a savings account or money market, that you can get your hands on in case you stub your toe on the trail of life. We like to recommend a minimum of 90 days living expenses be kept in it, but in some cases, six months up to a year might be more appropriate. It’s not so important how much interest you earn on it as it is that it is available should the need arise.
So, if you don’t have one, get one started. And one other piece of advice, pick your feet up when walking on rocky trails.
*The picture above is not Mike and Riley. :)
These are the opinions of Mike Berry and not necessarily those of Cambridge, are for informational purposes only, and should not be construed or acted upon as individualized investment advice.
Mike Berry is a Registered Representative offering securities through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Investment Advisor Representative, Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Legacy Wealth Management, LLC and Cambridge are not affiliated. Cambridge does not offer tax advice.
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