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/biz/ - Business & Finance


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55098253 No.55098253 [Reply] [Original]

How much money should I have in the bank for emergencies? I've had 10k for about 4 years, but I've wondered if it's too much

>> No.55098318

>>55098253
100k is a good number if you are over 45.

in your 20s, 10k is fine.

>> No.55098589

>>55098253
250k, the fdic max

>> No.55098803

Depends on your risk tolerance and what emergencies youre most likely to encounter. Ideally, itll be as small as possible to allow as much of your money to work as possible whilevstill being able to sleep at night knowing youre covered. I do 6 months of expenses (~$20k), i always hear between 3 and 12 months is good. Have enough for all of your deductibles and/or 3 months jobless at the very least.

>> No.55098812
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55098812

>>55098253
$0

>> No.55098829

Hope your emergency happens sooner than later. That 10k you've got will be worth about 1k in a couple years or so

>> No.55098866

>>55098253
when the coming emergency hits the money in the bank is no longer going to be yours
good luck getting anything from FDIC when SHTF

>> No.55098895

like >>55098803 said, enough that you dont have to divert any brain activity to think about what ifs
6 months of expenses in the bank, 6 months in cash and precious metals is what im working with
this should be a very small portion of your fortune, ignore poorfag doomers like >>55098829
>>55098866

>> No.55098936

I keep 15k in a hysa, 5k in my brick and mortar bank, 2k in cash at my house. I have never needed anything besides my 2k cash.

>> No.55098974

>>55098895
enjoy the empty vault

>> No.55099033

>>55098895
whats poorfag about acknowledging inflation lol. No seriously whats poorfag about that. I'm avoiding a roth ira because of the inflation threat. Do only poor people worry about inflation?

Oh I guess they do, because when you're in the 1% inflation doesnt affect you does it

is that what you're getting at?

Betting I have more money than you anyway though because I live off a $25 a week diet of milk/fruits/meat in my uninsured car and I work a remote job on my phone. Taxes, a PF membership for free showers/water, and the occasional airbnb near a beautiful national park are the only real expense eating out my bank account (No offense to your lifestyle btw im sure/hope you get to do the things you like too)

Anyway whats poorfag about worrying about inflation? Are you saying its not actually real? I'd believe you btw I'm ready to disbelieve in inflation the same way I disbelieved in 9/11, covid, etc. The world's full of lies i get it just point me in the right direction brother

>> No.55099635

>>55098253
>>55098803
>me $12k always between savings and checking
My monthly expenses are pretty low but I wonder if I should keep more on hand in case I have house troubles. Getting any professional work done is practically $5k minimum and up to $50k and beyond for siding.
Or even if I need a new car which again would eat that fund up in an instant.

>> No.55099705

>>55098318
I'm 20 and I only have a 3.5k emergency fund I'm fucked right?

>> No.55099773

>>55098253
>in the bank
>for emergencies
????????
Keep enough money to get yourself across the second nearest international border paying cash for everything including bribes. You should have planned out how to get across two different international borders without using digital money or leaving any kind of trail, in an """emergency""".

10k might work, depending on how much bribes cost. 20k would be safer but the US borders are fairly porous so it's not hard to go out innawoods/innadesert and just go on foot.

>> No.55099786

0 in bank for emergencies
a few-a dozen+ k cotton for>>55099773

>> No.55100622

>>55099773
WTF KEK
Source ?

>> No.55100662

>>55099773
lol this nigga thinks hes jason bourne

>> No.55101010

>>55099773
best advice in this thread