Homestead Funds got its start serving rural electric cooperatives and their employees. For this reason, we are especially pleased to add our voice to the many individuals and organizations expressing their appreciation for the important and difficult work lineworkers do. This year, we’re celebrating with a campaign that acknowledges the training, focus and commitment line crews bring to their jobs every day.
Here you’ll find financial planning insights that we believe are especially relevant to lineworkers and a collection of educational resources for further reading. See something of interest? We invite you to connect with us and continue the conversation.
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Tools of the Trade
In addition to the physical demands of the job — climbing, lifting and working above ground — lineworkers have to master the tools and technology needed to perform their work safely. Lines, clamps, hand tools, transformers and bucket trucks are just some of the essentials. Lineworkers have completed years of training to hone the skills they need to be able to perform their jobs safely, and these are on display at rodeos around the country. Homestead Funds is proud to be a sponsor of this year’s Gaff-n-Go Lineworker Rodeo happening in Doswell, Virginia, May 13 and 14.
Investment managers and financial planners — two of the specialty trades employed by Homestead Funds — also have standards for education and training. You can meet our professionals and read their bios here. Just as cooperatives want to be confident their lineworkers have what they need to do their jobs and return home safely at the end of the day, investors should expect that the individuals they choose to help them meet their financial goals are trained professionals with the appropriate credentials.
Responding to Emergencies
We join electric cooperatives in celebrating Lineworker Appreciation Day on April 11.
When big storms bring power outages, lineworkers are their communities’ first responders. They get up and out in all kinds of weather and work around the clock to restore power and keep their communities safe. Preparing for potentially dangerous situations in bad weather requires lineworkers to be calm and focused, a skill honed with years of training and experience.
Being ready for an emergency is also an important piece of your personal financial plan. Life throws us curve balls, such as unexpected car problems, a surprise home repair bill, or a friend or family member in need of financial support.
A smart strategy is to build and preserve a rainy-day account over time by contributing a manageable amount every pay period until you have a comfortable cushion — typically three to six months of living expenses that you can tap when needed. Having a savings cushion can help keep you from having to dip into your retirement plan or going into debt and can give you peace of mind that you’re prepared and ready to respond to an emergency.
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