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/biz/ - Business & Finance

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11258744 No.11258744 [Reply] [Original]

How much % of your net worth do you hold in your checking account?

>> No.11258756

less than 1 %

>> No.11258762

>>11258756
This
Money does nothing sitting in a checking account
That's why poor people stay poor

>> No.11258764

>>11258744

About 5%

>> No.11258770

5% or less.

If you have more than like 10% you should invest it somewhere.

>> No.11258771

i'm broke

>> No.11258775

>>11258744
I got 128k in my checking account and about 29k in crypto lel

>> No.11258778

>>11258762
Seriously, my mom always told me to hold EVERYTHING in my checking account. Did my own research when I got older, now it's 5% for emergency.

>> No.11258841

>>11258775
why

>> No.11258865

>>11258841
he hates money

>> No.11258915

>>11258841
i dont know where to put it. Im currently trying to learn how to trade options and likely only play with a few thousand. i live at home btw

>> No.11258933

>>11258744

You shouldn’t really maintain a % of net worth, rather a % of monthly expenses. My monthly expenses are about 3k and I have a rent payment of 1500 which is cashed on irregular days so I tend to keep about 2-3k as a cushion. I could probably get by with <1000 but I’d always be worrying about a check bouncing if I timed things wrong. I’ll be moving to a cheaper place soon so I might reduce my cushion to 1500-2k when that happens.

>> No.11258938

>>11258744
100% of $1000

>> No.11258948

>>11258915
unless you think there is a major crash coming why would you not just buy VTI, SPX, etc.?

>> No.11258988

>>11258744
0.2%

>> No.11259032
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11259032

>>11258744

$0

>tfw negative net worth

>> No.11259044

>>11258948
when do u think the major crash is coming?

>> No.11259066

>>11259044
2112

>> No.11259123

Everyone should have an emergency fund of at least 6 months of expenses but anything more than 10% in cash is a waste.

>> No.11259372
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11259372

>> No.11259377

>>11259123
>Everyone should have an emergency fund of at least 6 months of e

I never understood this meme

>> No.11259407

~60k in retirement funds
~100k in post-tax investments
~11k in emergency fund
~15k in checking account (primary account for in/out, autopay for everything goes through there)
~20k in non-liquid assets (car, etc)

So about 7%

>> No.11259981

>>11258744

7-8%, you want as little as possible but anyone competent keeps an emergency fund. If you don’t have enough cash you have to sell assets you might not want to and I fucking hate that.

>> No.11259999

>>11258744
somewhere between 5% and 10% is money sitting in my bank account.

>> No.11260227

>>11258744
About 3 months worth of expenses.

>> No.11260857

BANK
BAIL INS
ARE LEGAL NOW
money on account with the bank is not yours

>> No.11260882

>>11260857
What is a bank bail in?

>> No.11260905

>>11258762
>>11258744
over 80% and I probably have the highest nw ITT

>> No.11261041

0.2%

>> No.11261072

2% of free cash

>> No.11261163

Too much