Robert Gill, a financial advisor, recommends that clients build an emergency fund containing at least three months' worth of living expenses. An emergency fund is a reserve of savings set aside in a liquid account like a savings account or CD to cover unexpected costs like medical bills, home or car repairs, or job loss. Without such a fund, people may be forced to take on debt to pay for emergencies, making their financial situation worse. The emergency fund should only be used for true emergencies, not anticipated or routine expenses.

1. What is an Emergency
Fund?
Robert Gill

2. Introduction
 Registered financial services representative and FINRA-licensed financial advisor Robert
Gill presides over Epic Wealth Management, a New Jersey-based brokerage firm. To
ensure his New Jersey client base can maintain financial stability, grow assets, and
minimize losses, Robert Gill conveys expert advice and effective money management
strategies, such as building an emergency fund.
An emergency fund is a reserve of savings set aside in a savings account or highly-
liquid low-risk investment vehicle such as a certificate of deposit. Ideally, emergency
funds should total at least three months of expenses.
This fund serves as a buffer for unexpected costs, like medical bills, emergency car or
home repairs, and job loss. Without an emergency fund, individuals may have to take
on debt to cover costs, which can exacerbate an already financially precarious
situation.
When building an emergency fund, it is crucial that savers understand what constitutes
as an emergency. This buffer should not be used towards costs that are anticipated,
routine, or non-essential. To make the fund slightly less accessible, it is advised to hold
an emergency fund in a separate account.