Sure

One thing where a lot of financial gurus, even on this board really get it wrong is that they scoff at people who have "large" reserves of liquid cash "not working for them"

I've seen people talking about money in amounts as small as 5K and people on here saying "that's a lot of money to not do anything with"

I disagree. I don't think there is anything wrong at all with having 10K in liquid checking or savings "doing nothing"

3 ...

Report Post

Posted by tigeraddict

Baton Rouge

Member since Mar 2007

11824 posts

Posted on 2/11/13 at 8:16 am to Powerman

quote:
I disagree. I don't think there is anything wrong at all with having 10K in liquid checking or savings "doing nothing"

Thats one of the things Dave talks about in his class. Having the class handy make it easy for access in the event of an emergency need, but the side effect is it brings a since of peace to the marriage in that you have the safety net, so it's one less thing to worry about. And the biggest martial issue for couples is money...

1 ...

Report Post

Posted by ItNeverRains

37069

Member since Oct 2007

25577 posts

Posted on 2/11/13 at 8:43 am to Powerman

quote:
I disagree. I don't think there is anything wrong at all with having 10K in liquid checking or savings "doing nothing"

I would say 50k. With that said in my high yield I'm getting almost 2%. I simply do not understand how people cannot get at least some return on liquidity. It's lazy IMO

I agree with Ramsey for his callers, those people are absolutely broken financially. If you relate to anyone who calls in that show, follow his advice word for word.

1 ...

Report Post

Posted by Chris Farley

Regulating

Member since Sep 2009

4180 posts

Posted on 2/11/13 at 7:38 pm to Powerman

quote:
One thing where a lot of financial gurus, even on this board really get it wrong is that they scoff at people who have "large" reserves of liquid cash "not working for them"

I've never seen anyone here or someone considered a "guru" recommend not having some cash stored up. Most people recommend having at least 6 months of living expenses saved up for emergencies. If you are married with kids it is probably reckless not to do this. Personally, I don't mind taking the risk of not having much in cash savings but that is only because I am young and have no one depending on me.

2 ...

Report Post

Money Talk - Replies to Post

Return To Board

Page 1

Return To Board