How much money in savings/money market accounts

[Anonymous]

That amount seems high, but there are many factors to consider.

How stable is your job? Would it be hard to find another one if you were laid off? Do you support other family members (spouse, kids)? Are you the only earner? These might support a large emergency fund.

How old are you? Are you far from retirement? We have about the same amount in cash or near cash, but are close to retirement. I would like to fund the first couple years without using retirement accounts.

What is your NW and total investments? What is your asset allocation? Is it all stock? If it is all stock, more cash might be reasonable. But you do need to make sure you have enough of your money working for you, growing above inflation.

Do you have any big purchases coming up in next 5 years or do? A home, car, college? You might want cash for that.

Also, what interest rate are you getting? I buy T-bills so no state tax on earnings (and can sell if necessary). I keep a smaller amount in HYSA—you need to watch those rates since they can change over time.

[Anonymous]

We have 65k in hysa. We add about 1k/month to it. Last semi-depleted to put new hardie siding on our house. We also have around 15k balance in our checking so we pay for most things there because the hysa is for emergency, large budgeted expenses and eventually a new car etc. we would pull from investments if we needed more but that would have to be true emergency.

Other stats: we have about 350k in 529 for 2 kids; 700k in non retirement investments and about 1.8 in 401k.

Our income varies between 310-340k and we are 6-8 years from retirement with two pensions (one minor, maybe 25k/year, the other projected about 70-75k).