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Started By
Message
How much is your emergency/cash fund?
Posted on 7/4/23 at 6:46 pm
Posted on 7/4/23 at 6:46 pm
With rates right mid 5% I think I will go for a year of expenses
I am 44 and feel might be too conservative.
Right now I have 9 months just going to ladder tbills
I am 44 and feel might be too conservative.
Right now I have 9 months just going to ladder tbills
13
Posted on 7/4/23 at 7:29 pm to thelawnwranglers
Emergency fund is 6 months in a Vanguard cash plus account earning 4.5%. All current positive cash flow goes into stocks. Tuition money is set aside in a Tbill ladder
Posted on 7/4/23 at 7:48 pm to thelawnwranglers
Posted on 7/4/23 at 7:52 pm to thelawnwranglers
Probably about 3 years worth of bills.
Posted on 7/4/23 at 8:13 pm to Rize
quote:
Probably about 3 years worth of bills.
The rest of any you invest in market?
Posted on 7/4/23 at 10:11 pm to thelawnwranglers
I’ve got $10k in ibonds I can access anytime and $30k in a HSA at 5%. I keep another $4k in another savings account and usually about $20k in checking. My real emergency fund is $55k in Robinhood play money that I could liquidate at anytime. Everything else I consider retirement funds and wouldn’t touch unless I was on the verge of financial ruin. All that together would cover my bills for a year.
Posted on 7/4/23 at 10:51 pm to thelawnwranglers
(no message)
This post was edited on 9/17/23 at 11:39 pm
Posted on 7/4/23 at 11:29 pm to thelawnwranglers
Currently, about $50k.
We usually keep about $15k between checking and savings for cash flow.
And we drip weekly funds into savings (Citi is 4.05%).
From there, we usually pay cash for an automobile. But right now we are considering a kiddie condo.
We usually keep about $15k between checking and savings for cash flow.
And we drip weekly funds into savings (Citi is 4.05%).
From there, we usually pay cash for an automobile. But right now we are considering a kiddie condo.
Posted on 7/5/23 at 12:36 am to meansonny
About $100k in my mattress. Another $50k in a HYSA earning 5%. I have $75k in Bitcoin just in case. And I make sure my checking doesn’t go below $150k. This isn’t counting my wife’s emergency fund which is all together $300k.
Some of you are ridiculous. I have 6 months worth of expenses as an emergency fund. Everything else is disbursed across investments.
Some of you are ridiculous. I have 6 months worth of expenses as an emergency fund. Everything else is disbursed across investments.
Posted on 7/5/23 at 4:29 am to thelawnwranglers
I guess I never really understood the need for an emergency fund. Anything over 10k in my personal checking gets put somewhere for investment, even if it’s just my Robinhood account. I can access those funds quickly enough, along with many others where I don’t see a need to have an account just sitting there with 6 months of bills.
Posted on 7/5/23 at 5:37 am to thelawnwranglers
I have access to 3 years of cash should I need it, but only keep about 6 months on me at any given time.
Posted on 7/5/23 at 6:40 am to nugget
quote:
I guess I never really understood the need for an emergency fund.
In 08/09 lots of people lost their job while the market crashed. So any investments they had to rely on were halved. Cash wasn’t.
Posted on 7/5/23 at 7:18 am to GeauxTigers123
I have 70k sitting at 4.2% right now. Just feels safer than the stock market.
Posted on 7/5/23 at 7:59 am to LSUmajek
We have about $30,000 in cash savings and ibonds which can be redeemed if necessary. Also have about $7500 in small taxable account. Our checking fluctuates depending on the time of the month, usually we keep just enough in there to pay the bills. We've been pouring money into retirement accounts at fairly high clip the past few years, so our cash on hand has been a little lower. Our jobs are pretty recession proof (education and healthcare) so if we needed to boost our cash in the short term, we could cut back on investments for a bit.
Posted on 7/5/23 at 8:18 am to thelawnwranglers
Single income household and 6 months.
Posted on 7/5/23 at 8:42 am to thelawnwranglers
About 4 months of bills in cash and then another 4-6 months in IRA contributions I could pull if necessary
Posted on 7/5/23 at 8:55 am to nugget
If you're keeping 10K in a checking account, that is your emergency fund.
Posted on 7/5/23 at 11:28 am to nugget
quote:
I never really understood the need for an emergency fund
quote:
Robinhood account. I can access those funds quickly enough
You have to plan for some (not so) crazy scenarios. Imagine the economy is/has been doing great the past few years and all of a sudden, I don’t know, we have this pandemic thing. Your Robinhood balance gets cut in half almost overnight, then you lose your job the next day.
We have 6 months of expenses plus the deductible on our home insurance, all in a HYSA.
Posted on 7/5/23 at 11:28 am to AsTheBarnBurns
quote:
Vanguard cash plus account earning 4.5%
Apparently this is beta and invite only at this point. First I had heard, so I called.
Posted on 7/5/23 at 1:03 pm to nugget
quote:
ven if it’s just my Robinhood account. I can access those funds quickly enough, along with many others where I don’t see a need to have an account just sitting there with 6 months of bills.
Emergency funds never ever go into a vehicle that can lose value. The most likely time to need an emergency fund is also the most likely time investments lose value.
So for example, if you had planned on 6 months in your account when things were fine, the market tanks, you are now down to 3 months of savings and now you lose your job (because people are more likely to lose jobs during bad economic times). You no longer have 6 months of savings and on top of that, every dollar you have to pull out at that point in time is taking a huge loss. You are just compiling the bad events.
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