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Reply to "I did it! I finally have six months of savings in an emergency fund!"
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[quote=Anonymous]I dont really see the benefit of putting money in a HYSA or other safe place that is going to get eaten up by inflation. If I have 6 months of emergency funds thats opportunity cost that im losing, maybe 5+% annually. If i lose my job I could cash out roth contributions, HSA funds for COBRA premiums, and use a CC, worst case 401k woth penalty. If the market stays strong I am way better off using funds that I can access without penalty. Let's say the market tanks. Well If job loss is 6 months or less its probably a wash between market drop and lost opportunity cost of not investing those bank funds. If job loss is 1-2 years or longer I am F-ed no matter what i do because I have nowhere near enough income to pay my bills and will have no choice but to eat up my retirement, and nobody says to keep that much cash anyways.[/quote]
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