/biz/ - Business & Finance

[Anonymous No.24935525]

>emergency fund

What's the point of this?

[Anonymous No.24935804]

See name

[Anonymous No.24936421]

Buy the dip

[Anonymous No.24936544]

so you don't end up like that one anon who gets kicked out by his mom every 2 weeks and ends up debating if he should pay her 33.5 link ($500), 56 link ($500), 82 link ($500), 24.2 link ($500), and so on

[Anonymous No.24936547]

>>24935525
Having money to buy a rope to kys

[Anonymous No.24936908]

Emergency fund is a dave ramsay gag to keep poorfags poor.
You need to be fully invested otherwise you are just walking into Cuck Powell’s woodchipper.

[Anonymous No.24937175]

For emergencies like medical bills? Don't you american cucks pay like 2k for a vitamin prescription

[Anonymous No.24937188]

>>24935525
For emergencies

[Anonymous No.24937206]

>>24936544
good point
kek

[Anonymous No.24937219]

>>24937175
imagine going to the doctor
even if you have a real emergency just give a fake name and its literally free

[Anonymous No.24937221]

>>24937175
plus tip for the pharmacist

[Anonymous No.24937262]

[Anonymous No.24937263]

>>24937175
Yeah but they have payment plans anon. How frickin cool is that??!

[Anonymous No.24937307]

It's not that difficult anon.

Just keep 3-6 months expenses (rent, mortgage, food, bills)

Imagine a scenario where you're all in on some shitcoin so you gotta cash out to pay rent and you do it right at some amazing bull run. You would lose less money by just having some minimal liquidity in cash that's meant for basic shit.

>>24936908
Having $5k non invested is insignificant if you're not a poorfag (your portfolio should be well int he 6+ digits)

[Anonymous No.24937506]

>>24937307
the 5k could do 10x which is not trivial.
for a traditional stonk boomer 5k uninvested is fine but for non boomers who can 10x or 100x in crypto it's not nothing.

[Anonymous No.24937606]

>>24937506
>the 5k could do 10x which is not trivial.

I said it doesn't matter if you're not poor.

You should already have invested 100k+ in that amazing 5x shitcoin otherwise you're not going to make it anyway.

50k in cash is nothing.

[Anonymous No.24937646]

>>24935804
First post

[Anonymous No.24937673]

>>24935525
In case there was a black swan event that caused historic economic impacts and unemployment and my job disappeared, I could still buy food and electricity for six months while I figure out what to do next.

[Anonymous No.24937698]

>>24937673
just move back in with mummy anon

[Anonymous No.24938104]

>>24937673
It also means you don't have to sell stonks/coins during that time.
Let's say I have 100 shares in Apple. Massive crash happens, mass unemployment, etc. Or even just a big crash that causes you to get laid off or take a pay cut. Now I need 6k to cover my expenses during this time. If I have an emergency fund, I can pull it from that and its value has stayed stable throughout the crash. If I have to sell shares, I have to sell a much larger number of shares to get 6k than I would have pre or post crash. An emergency fund gives you a buffer that holds value in the short term and stops you having to sell low out of necessity.

Not a good idea if you're poor but live in a high welfare country though, since they'll demand you use that buffer before they give you anything.

[Anonymous No.24939036]

investments are fine while you're building the emergency fund, although they should be a small % of your portfolio. A few shares here and there

[Anonymous No.24939069]

>>24935525
>Savings

What's the point of this?

[Anonymous No.24939238]

>>24937262
I want...The cunny....

[Anonymous No.24939252]

Trying to convince normies to save money since they literally do not comprehend this concept. They need the help.

[Anonymous No.24939254]

>>24938104
An emergency fund is also supposed to allow for immediate access of cash. You don't want to spend days waiting for the transaction to be completed when you might need funds in a matter of hours.

[Anonymous No.24939279]

>>24935525
Imagine not having a bit of cash on hand for an unexpected expense. If 3-5k is going to determine if you make it or not then you're ngmi.

[Anonymous No.24939350]

>>24937606
>5k is nothing
>50k is nothing
okay youre definitely larping and definitely poor.

[Anonymous No.24940197]

>>24939238

[Anonymous No.24940232]

>>24935525

I have 10k in savings float 5-10k in checking and have 300k in investments

[Anonymous No.24940943]

>>24935525
If you live below your means you should be fine if one of your income streams fails

[Anonymous No.24940995]

Ehh, I've got $7k in a "high yield" savings account, it's nice to know I've got some money always easily accessible in case something comes up. Realistically I'll probably never touch it though.

[Anonymous No.24941136]

>>24937175
Yeah, but I keep my 'emergency' fund in assets because emergencies are usually rare.
>>24936908
Not really. Dave Ramsay's audience is poor fags who keep themselves poor by spending money they don't have on shit they don't need.
>>24937307
Imagine a scenario where bitcoin has gone up ~120%+ in 3 months like it just did and ask yourself if it was worth it having that money in a savings account

[Anonymous No.24941166]

>>24937673
>>24938104
This. The point of an emergency fund is that it buys you the most important asset: time. You have time to assess your situation and plan what to do next (which may include selling off some assets), rather than being forced to panic sell and fucking yourself over.
Also, keep in mind that there's a good chance that you'll need to hit your emergency fund precisely when shit hits the fan. Think about if you lost your job in March. You would have been forced to sell off assets during the crash, whereas if you had an emergency fund, you could wait for the recovery.
And besides, if you can't put 10k or 20k away in cash, don't kid yourself, you were ngmi in the first place.

[Anonymous No.24941215]

emergency

[Anonymous No.24941238]

Its all about figuring out where you want to put your money. I'm all in dogecoin. You might be smarter than me, but I doubt it. Join the pacc or lose your stacc

[Anonymous No.24941251]

>>24935525
to pay bills and expenses
I literally have all my money in FTX though

[Anonymous No.24941353]

>>24937175
No we don't it is just a sham we put up so Euros and other Third Worlders can feel better about their lives.

Basically we know you see videos of us fucking driving monster trucks and shooting guns and eating BBQ and basically our houses are bigger than your sports stadiums, so we figure we pretend like medicine is some huge expense and at least you won't kill yourselves and leave a mess for us to clean up (again, like WWI and WWII)

Really our vitamins and medicine are cheap as shit and there are hospitals absolutely all over the place. We invented all the medicine and we make it all here so it is super cheap for us.

[Anonymous No.24941412]

>>24941353
Can confirm. Vitamins and otc medicine are cheap af compared to shitlandia, where they’re all individually packaged and sel per pill. In USA we get bulk 100-200 pills per bottle.

[Anonymous No.24942309]

>>24937506
>>24937606
two people have done this
but only heard about it.
all invested is for...

[Anonymous No.24942387]

>>24935525
to avoid this scenario:
>Lose your job
>Need to pay rent
>S&P 500 and whatever crypto you are in are down 50+%
>Selling when it's down that much is the worst thing you can do, but you're forced to to pay rent

[Anonymous No.24942767]

>>24935525
Optionality.

[Anonymous No.24943028]

>>24941136
lets say you hold 100k in btc. no emergency acc.
you lose your job in march and need to pull out 20k - maybe even dca'ing out. - you'd still be happy.

lets say you had 80 in btc in march. 20k fiat. same situation. you'd be down. already before this you'd be down.

once you have enough invested, that it can lose 50% and you still have for 6 months of living expenses you wont need an emergency fond.

keep cash in hand but dont think you're smart holding 6-12 months worth.