There are many unexpected events that could happen in a person’s life that would make them have to stop working. An individual might experience a sudden disability, have to care for a loved one, or they might lose employment through a lay off or downsizing. It is important to plan ahead with budgeting, saving, and making extra payments on mortgages and automobiles. Developing skills and maintaining networks is also essential. A person should want to have a plan in place so that they can be secure if they unexpectedly lose their job.
See Rodney Brooks, You may intend to keep working. But life may say otherwise., The Washington Post, July 11, 2015.
Special thanks to Lewis Saret for bringing this article to my attention.
