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/biz/ - Business & Finance

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12584842 No.12584842 [Reply] [Original]

What is the minimum amount of money you should have for emergencies? i.e. job loss.

I was thinking 4 months. So I always had at least $20k in the bank. However, would I be wiser to invest that money? Or too risky, only invest spare money?

>> No.12584855

emergency funds are a meme created by the filthy kikes.

its what a credit card is for.

>> No.12584871

>>12584855
I thought credit cards were a meme created by filthy kikes?

>> No.12584884

20k is too much to just hold in a bank. Have you seen how much inflation there is lately? I have never kept more than 4-5k in a checking account. The rest is in long term storage, whether it be precious metals, bitcoin, property, or even magic the gathering cards.Holding that much fiat won't do you any good.

>> No.12584895

>>12584842
Enough to cover 3 months bills and expenses is the norm, but you are good with 4.

>> No.12584907

>>12584871

credit cards are literally free money, if you have multiple residences declaring bankruptcy once in awhile does nothing to you. We've been conditioned to think otherwise, but most people never leave their home country and don't realize other countries don't care about your debt. I've taken on tons of US debt because I simply can, and then use it to fund my lifestlye in another country with no penalty. Game the system OP.

>> No.12584908

If you're enough of a chump to buy health insurance, your out-of-pocket maximum on health insurance is good enough. You're not going to get fired and get diagnosed with cancer on the same day.

>> No.12584940
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12584940

>>12584842
1% goes here

>> No.12584952

>>12584884

if you worry about the interest/inflation loss on 20k you're not gonna make it

>> No.12585250

>>12584842
6 months because we are heading into a major recession

>> No.12585266

>>12584907
>credit cards are literally free money

Jew banker detected

>> No.12585282

>>12584907
So you’re telling me you can get infinite money because you don’t live in the US and that you never have to pay it back?

>> No.12585332

>>12584842
Six month emergency fund if you have an education and work experience for a high demand profession
One year otherwise

>> No.12585344

>>12584842
If you're independent of wagecucking, 12 months.

>> No.12585355

>>12584842
$0. I can withdraw money from my brokerage account if I need it for something.

>> No.12585356

>>12584842
300k if you dont have health insurance

50k if you have health insurance

>> No.12585367

>>12584842
A good emergency fund is usually thought to be about $2,000 or three months' expenses or both
Yes, even if you're a boomer

>> No.12585369

>>12585266
Not a jew, just from an immigrant family.
Not my fault your parents weren't smart enough to give you dual citizenship. I frequently milk the US system for everything it has, taken out 100k in loans, thousands in credit card debt, and got tons of free shit and never pay it back because I don't live in the US. All you need is a US SS# to get free shit, no different than what illegals do.

>> No.12585378

>>12585282
My uncle fucked off to Thailand to do this.
Escaped a foreclosure, IRS debt, etc.

>> No.12585412

>>12584908
no one expects the unexpected

i unexpectedly was in ICU for 2 weeks, had emergency surgery, and got a 150k hospital bill

my health insurance covered everything except like 8k

>> No.12585436

a tarp, a change of underwear, a vial of bleach, a firestarter and I personally like to include some waterproof matches as well

and a calculator

other than that I'm good with my 401k because I'm saving more than 10% of my income, some of it is a bonus from my employer, and it will statistically be worth way more in 30 years when I'm in a wheelchair from working as much as I do than it is worth now

>> No.12585521

>>12584855
can't pay rent/mortgage on credit card without eating the cash advance fee. I keep 6 months expenses in an inflation-neutral money market, less about $1000 in a local bank checking for walking around money

>> No.12585568

>>12585412
150k is a bullshit number they made up to make it look like your insurance is actually doing something. It has no relation to the actual cost of treatment, and they are not going to refuse to give you treatment even if you can't pay

>> No.12585617

W/e is required to give you the piece of mind knowing at any moment you can walk out of your job and not have to find a job for X months. X could be 6, 12, 18, etc months, w/e makes you sleep at nice. Personally I keep 3 years worth in cash because it feels comfy.

>> No.12585672

>>12584842
Is that just for yourself? Seems a bit lavish for an unemployed cuck. Hold less cash and live frugally if the emergency occurs at a bad time to offload some assets

>> No.12585779

>>12584842
$5k minimum
$10k max.
5k is enough to get a job overseas, fly there, get established and hold out until your first pay check comes in.
$10k would be the go if you have a car in case it breaks down, if you lose your job (can take a few months off before you find your next one) or if you live in a shithole with a bad healthcare system.

>> No.12585786
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12585786

>>12584842
100k should be minimum

>> No.12585817

>>12584842
I do 3 months living expenses cash and then I put whatever I earned over that amount into my investment accts. Once I max my IRA index funds I play around with the remainder in stocks and crypto.