FOUR YEARS AGO, at age 45, I got divorced. These days, divorces are equal-opportunity proceedings. Since our income streams had been roughly the same, and we didn’t have children, our assets were split 50-50. For me, that meant losing half my state pension. Along with that loss came the realization that my retirement dream was just that—a dream.
Following the divorce, my lifestyle underwent a huge upheaval. Living on my own for the first time in my adult life,

WHEN THE AXLE OF MY 2006 Honda broke in the middle of a North Philly thoroughfare in December and I needed $500 to fix it, I knew where to turn: my family’s “life reserve” fund.
Every year, there are articles about how most Americans have little or no emergency money. Whether the unexpected cost is a car bill or an unanticipated job layoff, it’s critical to save for expenses that aren’t accounted for in your normal budget.