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Reply to "Why not put emergency funds in a mutual fund?"
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[quote=Anonymous]Every piece of advice I have read says not to put your 3-6 months of emergency money in a mutual fund, but in a money market fund or something else that is reasonable stable and can be accessed quickly. I understand the rationale for this: it ensures that a specific amount of money will be available to you when the emergency hits. However, this is a lot of money - money that could be growing. I'm wondering if it simply makes more sense to put it in an index fund and let the value shoot around wildly. If I don't have to pull the funds, they grow. If I do have the pull the funds, I may be forced to withdraw when the market is poor and my 6 month supply could be only 3 months. But... I'm still going to have some savings, and I am not overly terrified of both DH and I becoming unemployed simultaneously or unemployed for an extended period. Would this be crazy?[/quote]
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