Lack of money today

[Anonymous]

Are these the kind of "problems" that keep the 1% up at night? GMAFB.

[Anonymous]

Anonymous wrote:Are these the kind of "problems" that keep the 1% up at night? GMAFB.

+1 My whole net worth isn't $350k. And we get haircuts.

[Anonymous]

Anonymous wrote:Ok. Wait.

You have $350 in emergency funds. Stock options just sitting there (losing value every day, btw). And you over fund retirement.

You do what financial planners call "bucketing." You designate buckets for money and you are loathe to touch them, even when it means not getting your kids ice cream or haircuts.

Tomorrow, pull $36k out of the emergency fund and put it into your checking account. Walla. Things don't feel so tight anymore. And you still have $314k just in case.

Walla??? Do you mean "voila"?

[Anonymous]

Anonymous wrote:You have $350k in an emergency fund, you save, apart from 401k contributions, $1500 per month, and you're claiming that you can't buy your kids ice cream ort get them haircuts?

Are you flying them to Los Angeles for the haircuts? Going to Buenos Aires for the ice cream?

Words fail me.

LOLOLOL!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Ok. Wait.

You have $350 in emergency funds. Stock options just sitting there (losing value every day, btw). And you over fund retirement.

You do what financial planners call "bucketing." You designate buckets for money and you are loathe to touch them, even when it means not getting your kids ice cream or haircuts.

Tomorrow, pull $36k out of the emergency fund and put it into your checking account. Walla. Things don't feel so tight anymore. And you still have $314k just in case.

Walla??? Do you mean "voila"?

[Anonymous]

yeh stop the 401k for now

[Anonymous]

Anonymous wrote:

Anonymous wrote:Ok. Wait.

You have $350 in emergency funds. Stock options just sitting there (losing value every day, btw). And you over fund retirement.

You do what financial planners call "bucketing." You designate buckets for money and you are loathe to touch them, even when it means not getting your kids ice cream or haircuts.

Tomorrow, pull $36k out of the emergency fund and put it into your checking account. Walla. Things don't feel so tight anymore. And you still have $314k just in case.

Walla??? Do you mean "voila"?

BAJSHAHAHAHAHAHAHAH

[Anonymous]

Anonymous wrote:yeh stop the 401k for now

Of all the many, many options this not-really-pinched OP has, that's probably the worst. Oy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:yeh stop the 401k for now

Of all the many, many options this not-really-pinched OP has, that's probably the worst. Oy.

Indeed. The stupidest of them all.

[Anonymous]

I call troll, albeit a sophisticated one.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Not a good plan to count chickens before they hatched...
it seems you did not account for emergencies...or if anyone lost their jobs...
Can u sell ur house?

We could sell the house, but why? If I lost my job, daycare would no longer be an issue. If DH lost his job, we would have to dip into the emergency account. There is about $350K in the emergency fund that is liquid.

if you have $350,00 in liquid assets in an emergency fund...then money really is not tight...u have something to pull for the expenses you say you are not sure how to cover over the next few months...or do u need $350,000 to cover 6 months of expenses in case of an emergency....??

I don't get this either. IN the OP she says she can't buy a luxury like ice cream for her kids. We are completely headed for a housing crisis again. After coming off the feel-good thread, I just can't help people are feeling entitled, delusional, or both. Does anyone remember the NYTimes writer who went into foreclosure while reporting on the crisis, scenarios like this are all the same. I don't mean to be a total nasty, but OP after your triple exclamation point after saying you were almost done with CS got to me.

[Anonymous]

This thread is hilarious.

OP, if you are in fact for real, take a minuscule withdrawal from your massive emergency fund and buy your kids a damn ice cream cone. With solid gold sprinkles.

[Anonymous]

OP here---let's say I withdraw from the savings account. And then let's say DH loses his job. How does CS get paid? I certainly can't cover that from my income and cover all of our household expenses. That to me would be a true emergency. And in the given economy, there is no guarantee that anyone can find a job in 6 months. So yes, the money is sitting there. But it's not something I want to touch.

In looking through the helpful posts, some people suggested I trim down on the current investments. This is something that I don't want to do, but I can wrap my brain around doing so for the next 2 years. Moving money from investment bucket to the use today bucket would fix my cash flow issue.

[Anonymous]

Anonymous wrote:OP here---let's say I withdraw from the savings account. And then let's say DH loses his job. How does CS get paid? I certainly can't cover that from my income and cover all of our household expenses. That to me would be a true emergency. And in the given economy, there is no guarantee that anyone can find a job in 6 months. So yes, the money is sitting there. But it's not something I want to touch.

In looking through the helpful posts, some people suggested I trim down on the current investments. This is something that I don't want to do, but I can wrap my brain around doing so for the next 2 years. Moving money from investment bucket to the use today bucket would fix my cash flow issue.

How much in total are your monthly expenses, including CS?

[Anonymous]

Anonymous wrote:OP here---let's say I withdraw from the savings account. And then let's say DH loses his job. How does CS get paid? I certainly can't cover that from my income and cover all of our household expenses. That to me would be a true emergency. And in the given economy, there is no guarantee that anyone can find a job in 6 months. So yes, the money is sitting there. But it's not something I want to touch.

In looking through the helpful posts, some people suggested I trim down on the current investments. This is something that I don't want to do, but I can wrap my brain around doing so for the next 2 years. Moving money from investment bucket to the use today bucket would fix my cash flow issue.

Translation: "I don't want to do anything! Please tell me what to do!"

I say again, with what you have in savings, and with what you are saving additonally each month, if you can't figure how to free up some extra cash, you are too dense to be handling the money in your house. (Not as dense as the person who suggested stopping 401k contributions - but pretty damn dense.)

Moreover, in light of your subsequent explanations, this comment:

While 24 months is not a long time, it is when money is tight. We can make the monthly bills but there is no money for extras--like haircuts for the little kids or the ability to take them out for ice cream. We get hit with one little extra bill and the whole house of cards comes tumbling down for the month. I have some options that can fix this so I'm wondering what to do.

is so clueless it's almost offensive. It's actually hard to comprehend. Things are not tight. They're not even snug. You sound like one of those classic posters: "We have an HHI of $360,000, but we're not rich! We have to pay three private school tuitions, and the mortgage on our $1.3m house! There's barely enough left over each month to go on my twice weekly Whole Foods shopping trip and to fill up the 5 yo Lexus!"

Idiot.