You're on the right track. Shoot for one years expenses in your emergency fund. Sounds crazy but why not set a big goal. Car repairs short of an engine or transmission shouldn't be considered emergencies. 1k cash or a credit card should cover anything immediate. Beyond that, I would consider precious metals or a stock like JEPI. An account with a solid company like Vaulted sets the money where you won't spend it or JEPI offers a 7% dividend. Both can be in your bank acct. in a few days when needed and offer an inflation hedge with growth potential while having little downside risk. Cheers!
Thanks for advice! Agreed, the basic car stuff doesn't constitute an emergency. We're looking at a mixture of short term TBills and municipals for the first $10k, definitely going to extend that to a year's expenses over the next few years.
You're on the right track. Shoot for one years expenses in your emergency fund. Sounds crazy but why not set a big goal.
Car repairs short of an engine or transmission shouldn't be considered emergencies.
1k cash or a credit card should cover anything immediate.
Beyond that, I would consider precious metals or a stock like JEPI. An account with a solid company like Vaulted sets the money where you won't spend it or JEPI offers a 7% dividend. Both can be in your bank acct. in a few days when needed and offer an inflation hedge with growth potential while having little downside risk.
Cheers!
Thanks for advice! Agreed, the basic car stuff doesn't constitute an emergency.
We're looking at a mixture of short term TBills and municipals for the first $10k, definitely going to extend that to a year's expenses over the next few years.