The word resiliency is defined as “the capacity to recover quickly from difficulties, toughness.” This is often used relating to physical wellness and stamina and the ability to recover from an illness. Financial resiliency is the ability to recover from an unexpected financial burden, like a medical bill or car repair that you didn’t see coming.
When you are thinking about getting healthy, the prescription for good health is straightforward. The core principles include eating right, staying active, and not smoking. When it comes to your finances and financial wellness, what’s the prescription to financial success?
When I first heard about the “FIRE” movement, I was intrigued. It stands for Financial Independence Retire Early. This movement involves a growing community of people committed to extreme savings to be able to leave the workforce way before most of their peers.