re: How much do you have in savings?

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People get so butthurt here when others have savings. I’ve had as much as 200k in an account for an 8-9 month period, and can get down to 35-40k depending on what I’m investing in or purchasing. Of course, if all I’m doing is growing I’ll dump some to an investment eventually so not to waste growth potential over the long haul. Sweet spot for me is around 75-105k. I don’t mind at all not earning market growth on that amount for a solid piece of mind and less headache for me to move around.

Also, for those that use LOC... I didn’t go through the amount of money that I am now, back in 2008. But I can imagine that when the majors started to fall, and the housing market started to bust, and DJIA was down 25,35,45% - it was mighty difficult to go grab a couple hundred thousand from your approved LOC.

For me I’ll keep some in my savings.

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Couple things are hard for some to understand:

1) You don't expect people that use the word butthurt to have six figures sitting in a savings account.

2) You don't expect people that say the dumb shite they say on a message board to be financially set.

3) This board has had the 6'4 225lb, 2% body fat, married a true OT 10 millionairs since it's inception. It's the internet.

4) Literally everyone lies about their money to people they don't know.


If I polled the entire surgical staffs at the 3 hospitals I rotate between I'm guessing it would be hard to find 10-20 of them that are just piling money into a savings account. These are people making $300-$600K per year. Yet, the OT manages to reel off 40-50 posters sitting on six figures like it's nothing. You get how that might be unbelievable right?

If I polled the entire surgical staffs at the 3 hospitals I rotate between I'm guessing it would be hard to find 10-20 of them that are just piling money into a savings account. These are people making $300-$600K per year. Yet, the OT manages to reel off 40-50 posters sitting on six figures like it's nothing. You get how that might be unbelievable right?
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Well that’s a shame. I make a little over half of your bottom figure and I can manage to put away 15% of my earnings and on some months $1500 or more in savings. But we live in a conservative house for our salaries.

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If you knows what you gots, then you ain't got much

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Truth

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My emergency fund is the available balance on my credit cards. That gives me ~30 days to get whatever ordeal fixed without actually using my liquid funds.

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Same. No reason to have money getting stagnant in a savings account. I have access to around $75,000 on credit cards. In my 52 years I’ve only needed an emergency fund twice. First was when I broke my hand racing motocross and had to shut down my practice for a month. Second was after Katrina and was out of work for 8 months. Got through both okay with no emergency fund in my savings account.

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If I polled the entire surgical staffs at the 3 hospitals I rotate between I'm guessing it would be hard to find 10-20 of them that are just piling money into a savings account. These are people making $300-$600K per year.

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Then they are doing it wrong.

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Then they are doing it wrong.

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Most people are unfortunately.

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Well the problem is people lie on the internet

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Say it ain't so. I thought you had to post proof of 100k income to even post here.

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I have $1000 cash. Everything else is saved elsewhere. No need to have a ton of money cash. If I need more than $1000 at any one time, I can charge a CC, then cover it when I pull money out of my investments

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That's awfully low, I hope you have a Roth and/or taxable account. I'm in the same camp that you don't need a ton of cash in savings if you properly utilize credit, but $1k is not much at all.

i know its been said, but three dollars and fifty cents.