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The New Math on Emergency Funds

Don't eat that first potato chip.

Editor’s note: Read the latest on how the coronavirus is rattling the markets and what investors can do to navigate it.

Susan Dziubinski: Hi, I'm Susan Dziubinski with Morningstar. The pandemic and related job losses are shining a spotlight on the importance of having a liquid reserve as a part of your financial plan. But is the standard rule of thumb of three to six  months' worth of living expenses sufficient? Joining me today to discuss the topic is Christine Benz. Christine is Morningstar's director of personal finance.