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re: Recommended emergency fund amount in months/years

Posted on 3/22/23 at 11:23 am to
Posted by Ace Midnight
Between sanity and madness
Member since Dec 2006
94756 posts
Posted on 3/22/23 at 11:23 am to
6 months of expenses is probably a safe floor for most folks' situations. Frankly, 2 years isn't crazy if you have to consider, possibly, self financing a roof replacement (or equivalent major repair, e.g. A/C) or get into the car market at an unexpected time, because you have some time to build that back up.
Posted by el Gaucho
He/They
Member since Dec 2010
58484 posts
Posted on 3/22/23 at 11:23 am to
I’m younger than you baw. I’ve been working since I could walk. I don’t think it’s depressing it just is what it is. If you were a cave man and we were fixing to get an ice age you wouldn’t get sad you’d invent fire and get some thicker animal skins

Invent a fire in your life and thicken your animal skin because we’re getting an ice age. I feel like I should’ve been born a cave man or a Roman legionnaire tbh
Posted by themasterpater
I travel
Member since Sep 2014
1342 posts
Posted on 3/22/23 at 11:26 am to
quote:

far as the unemployment numbers, that’s a fake government number same as how they say inflation is like 6% when it’s clearly more than 100%. Just look at meat and tallboys


Lol you are a fear mongerer and a troll
Posted by themasterpater
I travel
Member since Sep 2014
1342 posts
Posted on 3/22/23 at 11:31 am to
quote:

I’m younger than you baw


Oh wise one, with your decades of experience when will this ice age end?

You came out the womb working for the man. Color me impressed. If that's the case I feel like you should be retired.
Posted by el Gaucho
He/They
Member since Dec 2010
58484 posts
Posted on 3/22/23 at 11:32 am to
What do I have to gain by spreading realism? It’s not trolling

Tallboys are like 8 bucks now when they were like 4.50 last year

A ribeye is like 20 bucks when they used to be 7 bucks

They want us to drink soy beer and eat bugs but it’s not gonna happen to me because I’ll be in the fema camp
Posted by el Gaucho
He/They
Member since Dec 2010
58484 posts
Posted on 3/22/23 at 11:36 am to
quote:

Oh wise one, with your decades of experience when will this ice age end?

This ends one of two ways: everyone has nothing and is happy. Live in the pod eat the bugs

Or the golden age of self determinism. Live in the woods, eat the deer, grow the crops. honestly I don’t see how this one could happen without serious outside intervention
Posted by themasterpater
I travel
Member since Sep 2014
1342 posts
Posted on 3/22/23 at 11:39 am to
quote:

What do I have to gain by spreading realism? It’s not trolling


Attention


quote:

Tallboys are like 8 bucks now when they were like 4.50 last year

A ribeye is like 20 bucks when they used to be 7 bucks


So based on these two things inflation is 200%?

Where does this 50% population who drives better cars and eats better than us exist? Because I'm not seeing them.
Posted by themasterpater
I travel
Member since Sep 2014
1342 posts
Posted on 3/22/23 at 11:40 am to
quote:

This ends one of two ways: everyone has nothing and is happy. Live in the pod eat the bugs


So the end is nigh?
Posted by el Gaucho
He/They
Member since Dec 2010
58484 posts
Posted on 3/22/23 at 11:42 am to
quote:

Where does this 50% population who drives better cars and eats better than us exist? Because I'm not seeing them

Either in the handicapped spot with the Escalade or pulling the 2 carts filled with Cheetos and t bones baw

ETA: I don’t do it for attention like 7 people look at this board
This post was edited on 3/22/23 at 11:45 am
Posted by GrizzlyAlloy
Member since Aug 2020
2581 posts
Posted on 3/22/23 at 11:47 am to
Don't forget the SSI checks and section 8. They living good out here. PPP loans for their "pressure washing business" is what's driving up the tallboy prices.
Posted by el Gaucho
He/They
Member since Dec 2010
58484 posts
Posted on 3/22/23 at 11:51 am to
The government needs to give us working folks beer stamps
Posted by Epic Cajun
Lafayette, LA
Member since Feb 2013
36393 posts
Posted on 3/22/23 at 11:58 am to
Dual income household. We have 4 months of bills and expenses liquid in a high yield savings account that we aren't touching unless we absolutely have to (we have other cash in a short term savings account for things such as trips, household upgrades, etc...). If I would lose my job, and my wife would keep hers, it could stretch us to ~12 months. If my wife would lose her job and I would keep mine, we'd be good into perpetuity, but wouldn't be able to save (this scenario is very unlikely, unless by her choice).

How much to recommend would vary greatly depending upon many factors. In your situation as a single person, I don't think there is any way that I would have 2 years saved up, but I also wouldn't tell you what to do with your money.
This post was edited on 3/22/23 at 12:17 pm
Posted by themasterpater
I travel
Member since Sep 2014
1342 posts
Posted on 3/22/23 at 12:06 pm to
I appreciate you giving actual advice
Posted by FLObserver
Jacksonville
Member since Nov 2005
15798 posts
Posted on 3/22/23 at 12:12 pm to
quote:

themasterpater


You can stop trying to make sense of EL Gaucho's reply's. I take it your new to the Money board. He reminds me of women a lot of the time with their responses . He always gets the last word and the majority of the time what he's saying doesn't make sense. He keeps it lively over here though. I give him that.
Posted by AllDayEveryDay
Nawf Tejas
Member since Jun 2015
9346 posts
Posted on 3/22/23 at 12:22 pm to
Depends on how you spend your money and your level of comfort baw. If you don't keep a budget you may want to start. That helped me figure out how much my family could live on per month, bare minimum, and what we needed to live at our level of comfort. Took the higher number and put that amount into a HYS account/Roth/Liquid. We generally keep about 6 months worth if both of us lost work. 12 months or more if just one of us did.

That assumes your aren't doomsday prepping.
Posted by WhiskeyThrottle
Weatherford Tx
Member since Nov 2017
6945 posts
Posted on 3/22/23 at 12:23 pm to
You ever make it just west of Fort Worth hit me up and we'll have a tall boy and a bourbon. My treat. I'm not driving east of Fort Worth. I hate going to Fort Worth as it is.

Do you weld for a living or is that something I read where you were joking? I'm just a "hobby" welder that does side projects that I get suckered into. I agree with your comment about stocking up on stuff you can use to improve yourself. Plenty of lead to go around also.

I have a stock pile of steel in my backyard and tools to work it. If I ever need something built, I'm not paying someone to do it unless I just don't have the time or tool budget to do. Currently welding a metal fence for a family member. Also just got done fencing in my property with a pipe fence. Got a loafing shed to build for our horse in the next month. Welded a dock at the lake property at the end of last summer.
Posted by AllDayEveryDay
Nawf Tejas
Member since Jun 2015
9346 posts
Posted on 3/22/23 at 12:26 pm to
quote:

I agree with your comment about stocking up on stuff


quote:

for our horse


Meat is a bit stringy but edible. I'd get a cow, or maybe some goats though.
Posted by themasterpater
I travel
Member since Sep 2014
1342 posts
Posted on 3/22/23 at 12:26 pm to
I was trying to wear him out, he has more free time at his job than I do apparently
Posted by Paul Allen
Montauk, NY
Member since Nov 2007
77763 posts
Posted on 3/22/23 at 12:28 pm to
People always insist on 3-6 months. I’ve never seen anyone suggest less than 3 months or more than 6.
Posted by themasterpater
I travel
Member since Sep 2014
1342 posts
Posted on 3/22/23 at 12:33 pm to
quote:

We generally keep about 6 months worth if both of us lost work. 12 months or more if just one of us did.


Do you have this backwards, or am I missing something?

Edit: my head was up my butt and I lost the ability to math
This post was edited on 3/22/23 at 12:59 pm
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