Anonymous
09/25/2012 21:16
Subject: thoughts on emergency fund?
OP here. Thanks for all the awesome advice. DCUM rocks!
Agree with PP that one would not need the same amount as current monthly expenses in case of emergency.. but given the suggestions ranging from 6-12 months, perhaps about 8-9 months of current monthly expenses could then be stretched to 10-12 months. Yep, might take some time to get there, we are probably more at 4 months or so, but fortunately not much debt except mortgage.
Agree with PP that one would not need the same amount as current monthly expenses in case of emergency.. but given the suggestions ranging from 6-12 months, perhaps about 8-9 months of current monthly expenses could then be stretched to 10-12 months. Yep, might take some time to get there, we are probably more at 4 months or so, but fortunately not much debt except mortgage.
Anonymous
09/25/2012 21:13
Subject: Re:thoughts on emergency fund?
I think your jobs are pretty secure. I'm a 25 yr Fed, career. However, our agency is vulnerable under certain political conditions. Personally, an early retirement option would be an absolute miracle for me but there's nothing yet in the works.
I still have about 6 months emergency fund, plus a HELOC line that we could tap. It's not that much though-- we have a low mortgage and old cars but private tuition is over twice our mortgage...
I still have about 6 months emergency fund, plus a HELOC line that we could tap. It's not that much though-- we have a low mortgage and old cars but private tuition is over twice our mortgage...
Anonymous
09/25/2012 17:53
Subject: thoughts on emergency fund?
What are thoughts on job security and the federal government? We have investments, retirement, disability insurance, life insurance, etc., but not much in liquid savings. DH and I are both federal employees with significant seniority (15 plus years) and senior non-political positions within our agencies. Am I delusional that our jobs are secure?