How much LIQUID savings do you have?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This thread is so ridiculously out of line with average America. More than a quarter of Americans have less than $1,000 in savings.

also people don't get liquid.

I can access my savings and hand it over. You can't do that with CDs and real estate. Same with stocks.

If that were the case $50k

Why can't you sell stocks on Monday then access the money on Tuesday, or Wednesday? We are not talking about retirement accounts, but an investment account can be liquidated if you want to. Sure, you might take a loss, but you can still access the funds fairly easily.

Right — a liquid investment is something you can get to in a few days. Sure you can sell property but that may not happen over night. Yes you can access retirement but you’ll pay a steep penalty for early withdrawal. Of course all non-retirement investments carry tax with them on gains, but they don’t then also have a penalty.

This. OP's question made perfect sense and some posters are tying themselves in knots to interpret what liquid means when she defined what she meant.

[Anonymous]

We only have about 10k liquid (cash in savings) right now.

The rest we have in house equity, 401ks, IRAs and stocks.

We both work and have a combined income of 250k. If one of use lost our jobs (not likely) we would stop paying extra on our 401ks and live more frugally like we did when this happened for 3-4 months during Covid.

We also have 3 paid off cars, fully funded 529s for two teens, and credit scores over 800. We also have credit cards that we could use, but it probably would not come to that.

We don’t have that much liquid because we’d rather earn more interest right now. We can always change that.

[Anonymous]

Anonymous wrote:We only have about 10k liquid (cash in savings) right now.

The rest we have in house equity, 401ks, IRAs and stocks.

We both work and have a combined income of 250k. If one of use lost our jobs (not likely) we would stop paying extra on our 401ks and live more frugally like we did when this happened for 3-4 months during Covid.

We also have 3 paid off cars, fully funded 529s for two teens, and credit scores over 800. We also have credit cards that we could use, but it probably would not come to that.

We don’t have that much liquid because we’d rather earn more interest right now. We can always change that.

I’m always confused by what “fully funded 529” means. There’s no such thing, right? We have $500k for an 8 and a 10 year old, but I don’t consider that fully funded because I can keep adding to it and paying for education down the line.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We only have about 10k liquid (cash in savings) right now.

The rest we have in house equity, 401ks, IRAs and stocks.

We both work and have a combined income of 250k. If one of use lost our jobs (not likely) we would stop paying extra on our 401ks and live more frugally like we did when this happened for 3-4 months during Covid.

We also have 3 paid off cars, fully funded 529s for two teens, and credit scores over 800. We also have credit cards that we could use, but it probably would not come to that.

We don’t have that much liquid because we’d rather earn more interest right now. We can always change that.

I’m always confused by what “fully funded 529” means. There’s no such thing, right? We have $500k for an 8 and a 10 year old, but I don’t consider that fully funded because I can keep adding to it and paying for education down the line.

I believe fully funded usually means some has saved as much as they want to/plan to save. That can mean differnet things to different people, but the point is that they arent saving more for college.

[Anonymous]

Around $1M, with $300k of that in cash. HHI is around $300k currently (used to be somewhat more before my H left a toxic tech workplace to start his own business), and NW around $5M including home equity.

[Anonymous]

Anonymous wrote:About $100.

Same. It will be less than that next month when my kid's college tuition payment is due.

[Anonymous]

Anonymous wrote:This thread is so ridiculously out of line with average America. More than a quarter of Americans have less than $1,000 in savings.

Why is that? I was illegal for decade+ and unable to make more than minimum wage. I also supported a deadbeat idiot who has nothing in savings and I still made it to one million.
Stocks are liquid. Why would anyone say otherwise. Not only are they liquid, there are barely any taxes to pay.
If you know, you know.

[Anonymous]

What is OP goal with this confusing thread? And why hasn’t she returned?

[Anonymous]

We have $2 million in cash + non-retirement investments. HHI is 425k.

[Anonymous]

$1.3M in non-qualified investments and CDs. Some of that is earmarked for college but is not 529. HHI $800-$1M (small business owners so it fluxuates).

[Anonymous]

Anonymous wrote:

Anonymous wrote:This thread is so ridiculously out of line with average America. More than a quarter of Americans have less than $1,000 in savings.

also people don't get liquid.

I can access my savings and hand it over. You can't do that with CDs and real estate. Same with stocks.

If that were the case $50k

I consider my investment accounts to be liquid - I can sell Monday and have cash on Tuesday.

[Anonymous]

We have 45K in savings accounts and another 50K in ibonds. Enought for a year of barebones expenses. One Fed, one unversity employee, one child.

[Anonymous]

200k in high yield savings, all from automatic payroll deductions. HHI 400k. Wish we had more but childcare has been a killer and we’re glad to be able to save $3k/month.

[Anonymous]

Mid-40s, $280K HHI
$65K cash (MM)
$160K brokerage

[Anonymous]

Not enough! My husband and I have about $80K between us. We recently bought a house which wiped us out, so we are in rebuilding phase. Both of us have well funded 401Ks though, around $400K between us (we are early 30s).