Reply to Where do you save your "emergency fund"?

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Reply to "Where do you save your "emergency fund"?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I like to keep the majority of my money invested, not sitting in a money market earning next to nothing.[/quote]
Same here.  That's why we only keep 50-100k in the emergency fund.
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Same here. That's why we [b]only[/b] keep $250k - $500k in the emergency fund. [/quote]
+1 - our rule of thumb is no more than 1% of holdings in an emergency fund so we won't allow it to go over 1MM.
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Is that your way of saying that you have more than 100M in holdings?

Frankly, there are very few emergencies that requires more than about $100k in quick cash. People who want more than that amount from you are usually willing to wait a bit. With 100M assets in play, your house can likely support two open HELOCs of 500k each. I know 5-8% return on $1MM is chump change to someone with that kind of net worth, but it does pay for a nice weekend in NY.

Unless you are of course not talking about emergencies, but opportunities. "Hey Joe from NOVA Equity Partners just called. One of their other commitments bailed on the cash call due next Tuesday. Yea I know, that guy will never get invited to another fund. Joe said they can move forward as is because they are already over subscribed, but we can fill in the $1M, what do you think?"[/quote]
yes, but we're just middle class in this area so we don't have the extra money to engage in spur of the moment investments like you mention.

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