So this pay period looks to be a great windfall. You’ll have that extra bit to sock away for a rainy day. When we ask people what they plan to do with the extra money, many of them tell us that they plan to invest it toward their retirement.

Seeking out investments to build personal wealth and to have a nest egg for retirement is a great idea that more people need to do during their early working life. Unfortunately, when we ask people how much of an emergency fund they have available, many will shake their heads. They may not have any emergency funds set aside or they hope they have enough in their checking account to cover the unexpected expenses.