Is your 'financial umbrella' in place?

April showers may bring May flowers, but March is National Umbrella Month. While ranking high on the list of truly obscure celebrations, this “month” can still teach us a few things – especially if we think about “umbrellas” that can help us protect our financial goals.

Consider these key areas:

• Your vulnerability to emergencies – It’s a good idea to maintain an emergency fund containing three to six months’ worth of living expenses. Without such a fund, you may need to dip into your long-term investments to pay for unexpected, and unexpectedly large, expenses such as a new furnace or a big...