Reply to Emergency fund if you have a "safe" job

Forum Index » Money and Finances

Reply to "Emergency fund if you have a "safe" job"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Money in your regular investment account is your emergency fund. You don't say how long it took you to save up the $34k, but if you had invested $1000 a month the last three years into VOO, you'd have ca $45k now.
When you lose a job, you pay very little tax on investments alone.
Your expenses are high. What is the reason you can't go $4k a month if needed? Be ready to sell the car, rent a studio as emergency plan, get a side hustle.
Safe job, money in investments, ability to go low expense and ready to get a side hustle, should let you sleep like a baby.[/quote]

You must be young. People in 2008 lost 70% of their investment wealth, and then lost their jobs.

[/quote]

Wow didn't know. 70% that's crazy.[/quote]

i lived through it and even i didn’t know, and didn’t come even close to losing that. i’ve been investing steadily since 2000 and my net worth now grows each year higher than my W2 income.  I hold very very little in cash. it’s worked very well for me for 26 years. [/quote]

Me too. If you never sold, you never lost anything.  There have been a couple of times I wished we had more cash on hand in the last 30 years, but we managed our way through.  Not sorry we invested almost all our savings. [/quote]

You were laid off after the crash? Did you move in with your parents?[/quote]
wondering this, too.  If all your savings went into the market, what did you live off of after the huge crash in 2008.  I also remember it well; had a friend who retried right around that time and they lost half their savings so they had to find other income.   Their savings never recovered, and they died a few years ago from cancer.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics