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re: Finally found someone that agrees with me on the absurdity of the emergency fund
Posted on 5/16/17 at 3:56 pm to OnTheBrink
Posted on 5/16/17 at 3:56 pm to OnTheBrink
quote:
You know what, you are right, I read it as your annual salary is well into the 7 figures. I apologize and will remove it.
And to add to the thread, You sort of do have an emergency fund with the $1,500 or so you have sitting around, obviously not the 3-6 months people suggest. I don't think most people have this mountain of cash just sitting around waiting to get laid off and say "Yep, now is the time to use it!". I would say most people are in your shoes and have it spread out.
The text is an excerpt from the linked article. I'm not quite there yet!!!!
Posted on 5/16/17 at 4:02 pm to anc
I agree fully OP, but I don't think its bad advice. I don't know why you'd have more than $10k not invested in some form or fashion, but hey whatever floats your boat.
I also think that a ROTH IRA is a very underappreciated form of an "emergency" fund. You can pull out whatever cash you put in there tax free, you just can't touch the interest earned. So if you aren't maxing your roth, its a great place for an "emergency" fund to build up.
I also think that a ROTH IRA is a very underappreciated form of an "emergency" fund. You can pull out whatever cash you put in there tax free, you just can't touch the interest earned. So if you aren't maxing your roth, its a great place for an "emergency" fund to build up.
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