Have you ever thought about what might happen to you financially if you were temporarily laid off or unable to work because of a sickness or an injury? What about those unexpected costs that can derail your budget, such as car or home repairs?
Establishing an emergency fund can help ease your mind. Your emergency fund should be able to cover three to six months of pay.
But how do you start an emergency fund? Easy. Pay yourself first. Try to set aside a percentage of each paycheck and have it automatically deposited into a secure, but accessible savings plan.
With a little effort, you’ll be surprised at how quickly an emergency fund begins to grow and how quickly you adjust to your “new” income stream.
Your financial representative
Meet a Modern Woodmen representative in your community and begin to explore how shared values can work for you.
Find a rep near you
Need help finding a representative?
If you’re unable to find a Modern Woodmen representative in your community, we’d like to help.Contact the home office
Additional products and services
Talk to a representative to see what's best for you.
A 401(k) plan is an employer-sponsored retirement plan that offers several income tax benefits for those looking to save for retirement.401(k) plans
Terminal Illness Interest Relief
Members who receive an advance on their death benefit through a terminal illness accelerated benefit rider will also receive relief for up to $5,000 (per member) of the first year’s lien interest.