- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: How much of an emergency fund do I really need?
Posted on 3/4/15 at 4:21 pm to hbuc88
Posted on 3/4/15 at 4:21 pm to hbuc88
1. Definitely contribute to your 401k. Its hard to get at the money, so it makes raiding it harder. and starting early helps your money grow.
2. You can use your roth as emergency savings. You can withdraw your cash without penalty assuming you don't touch gains.
3. I think its worthwhile to have a month or two of expenses in cash. Yeah, you don't earn interest (or much) but its better to tap that than get into the habit of digging into savings.
In your situation, I would (in this order)
a) Get $1000 in cash in a savings account, maybe $2k
b) Max out your roth each year
c) Max out your 401k
D) start a brokerage account on the side
2. You can use your roth as emergency savings. You can withdraw your cash without penalty assuming you don't touch gains.
3. I think its worthwhile to have a month or two of expenses in cash. Yeah, you don't earn interest (or much) but its better to tap that than get into the habit of digging into savings.
In your situation, I would (in this order)
a) Get $1000 in cash in a savings account, maybe $2k
b) Max out your roth each year
c) Max out your 401k
D) start a brokerage account on the side
Posted on 3/4/15 at 4:45 pm to Hawkeye95
Seriously, I have to agree. If you can afford to gamble, you can afford to pay your momma some rent money. Otherwise, you are indeed just a post-adolescent mooch who refuses to grow up.
Posted on 3/4/15 at 6:34 pm to Hawkeye95
quote:
In your situation, I would (in this order)
a) Get $1000 in cash in a savings account, maybe $2k
b) Max out your roth each year
c) Max out your 401k
D) start a brokerage account on the side
Slight thread hi-jack, but I enjoy reading your posts on this board so I wanted to get your input. I understand contributing to a 401k before starting brokerage account. But why max it? I mean it's great if you can do it, but for many people (like myself) in their 20's, putting $18k in a 401k isn't a realistic possibility, especially after maxing the Roth.
What if you need to make a big purchase? Wouldn't it be better to have the ability to liquidate assets held in a brokerage account for a good down payment rather than having all that money tied up in a 401k?
This post was edited on 3/4/15 at 6:42 pm
Popular
Back to top
Follow TigerDroppings for LSU Football News