A few years back, I wrote a Father’s Day musing — “Is entrepreneurship genetic?” — in an effort to assimilate some of the business lessons my dad taught me. In advance of the upcoming Father’s Day, I want to address one of his principles in more detail: specifically, the idea of having a go to hell fund.
Personal finance gurus will tell you that building up an emergency fund of 3 to 6 months should be a priority, and I agree. You never know what’s going to happen to you, and you need to be able to pay the bills. [Read more…]