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re: How many of you have a six month emergency fund?
Posted on 4/7/20 at 11:39 pm to oilattorney4lsu
Posted on 4/7/20 at 11:39 pm to oilattorney4lsu
I've actually got a decent rainy day fund put away, but financially I'm lucky. I work in an essential field, we're needed right now. I could work as much as I want, but I'm not eager to risk exposure any more than I already do.
0
Posted on 4/7/20 at 11:40 pm to oilattorney4lsu
I do, but my 10 and 11 y.o. do not.
Posted on 4/8/20 at 1:08 am to Geaux-2-L-O-Miss
quote:
Not sure what you consider "liquid assets" but I assume your comment was that you had 24 months of cash on hand. If so, that might look smart to you but overall is a stupid approach. Then again you post a lot without much substance.
Another low IQ clown, you have no idea if that's a "stupid approach" without knowing my overall financial picture. Pretty much the definition of a "post without much substance"
Posted on 4/8/20 at 4:04 am to oilattorney4lsu
Very easy to build up some survival supplies as well.
Lots of stores have buy 1 get 1 sales every week, plenty of canned food and other supplies at dollar stores, ...
Lots of stores have buy 1 get 1 sales every week, plenty of canned food and other supplies at dollar stores, ...
Posted on 4/8/20 at 12:39 pm to Upperdecker
quote:
Should at least be saving towards a 6 month emergency fund
Saving toward =\= have
Posted on 4/8/20 at 12:40 pm to oilattorney4lsu
quote:
How many of you have a six month emergency fund
How bout 6 months emergency food? You can’t eat money.
Posted on 4/8/20 at 12:41 pm to oilattorney4lsu
I have a 10 year emergency fund with one caveat. My wife can never make another purchase on Amazon.com.
Posted on 4/8/20 at 12:42 pm to oilattorney4lsu
Welcome Dave Ramsey to the board!
Posted on 4/8/20 at 1:15 pm to oilattorney4lsu
Got mine
Ty Dave Ramsey
Ty Dave Ramsey
Posted on 4/8/20 at 1:22 pm to oilattorney4lsu
Do you people live in reality? Holy shite..
Let say you make $100k. After taxes you’re looking at roughly $70k take home. Half of that in roughly 35 grand. Who has the ability to have 35 grand stashed away? And that’s on top of savings, expenses, mortgages, 401k and healthcare contributions. I doubt most people could do that in under a decade at the best of circumstances especially people under the age of 40.
I know this is the OT where everyone has unlimited disposable income, but come on. Realistically, if people shot to have between $10-$20k saved truly liquid, that would be enough to handle most issues. And that’s an attainable number for most people.
This isn’t 1976 where college costs 2 grand and you could pay cash for your car and you don’t have cell phones, internet, and the host of other expenses that simply didn’t exist before.
Let say you make $100k. After taxes you’re looking at roughly $70k take home. Half of that in roughly 35 grand. Who has the ability to have 35 grand stashed away? And that’s on top of savings, expenses, mortgages, 401k and healthcare contributions. I doubt most people could do that in under a decade at the best of circumstances especially people under the age of 40.
I know this is the OT where everyone has unlimited disposable income, but come on. Realistically, if people shot to have between $10-$20k saved truly liquid, that would be enough to handle most issues. And that’s an attainable number for most people.
This isn’t 1976 where college costs 2 grand and you could pay cash for your car and you don’t have cell phones, internet, and the host of other expenses that simply didn’t exist before.
Posted on 4/8/20 at 1:25 pm to boosiebadazz
quote:
upper middle class folks who were paycheck to paycheck
So I can't have a million dollar house if I'm making $100k?
I could afford the mortgage though. It's not spending beyond my means.
/s
Posted on 4/8/20 at 1:37 pm to ForeverGator
My wife and I have a separate Money Market with enough to cover us for 12 months.
Posted on 4/8/20 at 1:40 pm to oilattorney4lsu
Cause:
Effect:
quote:
It’s pretty scary to think the government has to bail so many people out with only one month off from work.
Effect:
quote:
It appears Americans aren’t rainy day savers anymore. Many Americans aren’t really middle class as they tend to classify themselves and live paycheck to paycheck and many who make decent money squander that shite on unnecessary purchases - cars they can’t afford, houses they shouldn’t buy, general crap expensive items. They save nothing.
Posted on 4/8/20 at 1:47 pm to oilattorney4lsu
quote:
This should be on top of your regular savings accounts, 401k, investments. I’m discovering so many people I know don’t even have a single savings account.
I’ve got a checking and a savings that have about 4 months of cash immediately available.
My investment account has about 2 years worth by itself but I’d rather not touch that. Especially right now with the market down so much.
ETA
I forgot why I started replying to you. 6 months outside of checking, savings, and investments? Who the hell has that and what is the point of having savings then?
This post was edited on 4/8/20 at 1:49 pm
Posted on 4/8/20 at 1:50 pm to oilattorney4lsu
6 months won't cut it if the lib tards have their way. We'll be doing this every year.
This post was edited on 4/8/20 at 1:51 pm
Posted on 4/8/20 at 1:53 pm to catholictigerfan
quote:
but why let thousands of dollars sit in a savings account when you could invest that and get some return instead of the tiny percentage you get back in savings accounts?
Because that $15,000 savings account is now worth $15,000.45 while that $15,000 in an investment account is worth closer to $9,000
Posted on 4/8/20 at 1:59 pm to oilattorney4lsu
I have a six a shooter for emergency funds.
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