Question:
Marcus has a brokerage account, a savings account, and a life insurance policy.
He just lost his job and needs quick access to money to cover the next few months.
❓Which should he use first?
A) Life insurance
B) Savings account
C) Brokerage account
D) Take out a loan
Answer:
✅ B) Savings account
Here’s why:
Savings accounts are designed for accessibility. The money is liquid, meaning you can get to it quickly and without penalties. That’s exactly what you need in an emergency.
The other options?
Life insurance might have cash value—but that takes time to build, and borrowing from it too early can mess with your long-term strategy.
A brokerage account can be accessed—but if the market’s down, you could lock in losses or trigger taxes.
And a loan adds pressure when what you need is breathing room.
Every financial product has a job.
Not everything you own should be growing. Some of it should just be available.
