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re: Brokerage Account as Part of Emergency Account
Posted on 8/5/14 at 9:19 pm to Iowa Golfer
Posted on 8/5/14 at 9:19 pm to Iowa Golfer
Thats what Im thinking. The funds may take a day or two at most and without having to worry about commission, I see it as smart place to tuck away some extra cash in case an emergency arises.
2
Posted on 8/5/14 at 9:55 pm to ragacamps
As long as the money is relatively "safe", it really doesn't matter. Instant transfers are a huge plus to this arrangement, but not really necessary IMO.
Only thing to possibly be careful of is if you make frequent trades, your brokerage may put restrictions on your account. I use Sharebuilder for some investments, tried to make some plays around election time, and got my account partially frozen for some time.
Only thing to possibly be careful of is if you make frequent trades, your brokerage may put restrictions on your account. I use Sharebuilder for some investments, tried to make some plays around election time, and got my account partially frozen for some time.
Posted on 8/12/14 at 6:20 am to ragacamps
quote:
The funds may take a day or two at most and without having to worry about commission
This is why I keep some bucks in my bank's savings account.
When our son was 3 months old I found out his health insurance had been dropped due to an administrative f up. They said it would take a week before he was put back on it. At that point I realized if a serious accident happened I would need to have funds at my disposal to pay cash at the hospital.
I also live in NOLA so that means I'm subject to arrest at any time for looking at a cop wrong and may need bail money.
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