Orman went on to paint a picture of darker times, reminding the audience of the financial ruin the Great Recession caused just 11 years ago.
“Go back to 2007… You lost your job, you lost everything, you were working on this tech thing and all the startups went down,” she says. “Nobody had any money to invest, nobody wanted to touch anything, nobody wanted to IPO because the markets were going down and you couldn’t find anything to do. Think it took you just three months to find another job? Think it took you six months to find another job?”
She goes on: “It’s not just about the economy. What if you get sick? What if you’re hit by a car? What if something happens crazy in this world? We live in the craziest world I’ve ever seen in my life right now. And the only way you can take craziness out of that if for you to make yourself secure.”
The only way to ensure that you’d be truly financially secure in times of crisis is to build a well-padded emergency fund, she says.