How Much Cash Should I Keep In The Bank?

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  • เผยแพร่เมื่อ 31 พ.ค. 2022
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ความคิดเห็น • 879

  • @rosannaconstil571
    @rosannaconstil571 5 วันที่ผ่านมา +110

    A good financial manager will projects how much money an individual will need in order to maintain positive cash flow, allocate funds to grow or add new products or services and cope with unexpected events, and shares that information with business colleagues.

    • @EricBrittonSilvado
      @EricBrittonSilvado 5 วันที่ผ่านมา

      By integrating these key components, a financial management system ensures real-time visibility into the financial state of a company while facilitating day-to-day operations, like period-end close processes.

    • @theresaquiera7412
      @theresaquiera7412 5 วันที่ผ่านมา

      A financial management system combines several financial functions, such as accounting, fixed-asset management, revenue recognition and payment processing.

    • @durhammiller8817
      @durhammiller8817 5 วันที่ผ่านมา

      Financial experts like Timothy Eric Meek can help individuals and finance teams achieve these goals.

    • @christianrode8316
      @christianrode8316 5 วันที่ผ่านมา

      Thats very important to know, Timothy Eric Meek is very intelligent.

    • @viniciusantonio8213
      @viniciusantonio8213 5 วันที่ผ่านมา

      I will be glad to know the best way to reach him please

  • @robertestrada434
    @robertestrada434 2 หลายเดือนก่อน +98

    Why tell a person to sell their bitcoin when it’s not doing well? Sell it when it’s high.

    • @storm1364
      @storm1364 หลายเดือนก่อน +14

      Well hopefully he kept it

    • @mariorodriguez3462
      @mariorodriguez3462 หลายเดือนก่อน +18

      Yeah, his Bitcoin remark didn’t age well………

    • @painfuldrp9954
      @painfuldrp9954 หลายเดือนก่อน +1

      What should he sell the BTC for? Something less appreciating?

    • @tsaunders9340
      @tsaunders9340 หลายเดือนก่อน +4

      He was wrong to say that when he doesn't understand the market. Bitcoin has been on up trend since November 2023 and will go higher after Halving sometime this year.

    • @volodymyr8928
      @volodymyr8928 10 วันที่ผ่านมา

      Yeah, I am not a fan of the bitcoin but that remark from a guy is very incompetent...

  • @geraldt331
    @geraldt331 25 วันที่ผ่านมา +212

    I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement. I'm seeking to invest $200K across markets but don't know where to start.

    • @Jadechurch-ql3do
      @Jadechurch-ql3do 25 วันที่ผ่านมา

      the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.

    • @yeslahykcim
      @yeslahykcim 25 วันที่ผ่านมา

      Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically withdrawing profits just before the market correction, I'm now seizing buying opportunities once again.

    • @lucaswilliams9992
      @lucaswilliams9992 25 วันที่ผ่านมา

      Mind if I ask you to recommend this particular coach you using their service?

    • @yeslahykcim
      @yeslahykcim 25 วันที่ผ่านมา

      Laila artine kassardjian' is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment

    • @brianwhitehawker1756
      @brianwhitehawker1756 25 วันที่ผ่านมา

      Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.

  • @TidewaterC
    @TidewaterC หลายเดือนก่อน +4

    23 and he is making 78k and getting a raise to 95k soon ? I don't believe a word of it.

  • @annbullen6983
    @annbullen6983 ปีที่แล้ว

    thank you for these videos ... there a big help

  • @ericcaleguer
    @ericcaleguer 2 หลายเดือนก่อน +115

    Sell all the BTC cause it’s not performing well anyway- that didn’t age well 😂

    • @anthonywebster8638
      @anthonywebster8638 2 หลายเดือนก่อน +10

      Right? They really are clueless when it comes to investing.

    • @ds132100
      @ds132100 2 หลายเดือนก่อน +3

      Darn I hope he did not listen to Rachel kind of not so smart lol oops😮

    • @aaronproctor1736
      @aaronproctor1736 2 หลายเดือนก่อน +2

      BTC isn't a way to wealth. Instead cash it out and put it into a Roth IRA. $15,000 initially invested and putting $500/ Monthly @ 8% CI. That would be close to $2.5M at age 65.

    • @anthonywebster8638
      @anthonywebster8638 2 หลายเดือนก่อน

      @@aaronproctor1736 🤣

    • @TheCarpentersApprentice
      @TheCarpentersApprentice 2 หลายเดือนก่อน

      @@aaronproctor1736that’s old school. There’s new ways to wealth. Look up the yearly returns on BTC.

  • @jenniturtleburger3708
    @jenniturtleburger3708 2 หลายเดือนก่อน +17

    There are high yield savings account that offer 5% and you can pull it out any time.

    • @mbank3832
      @mbank3832 หลายเดือนก่อน

      like which one ?

    • @jenniturtleburger3708
      @jenniturtleburger3708 หลายเดือนก่อน

      @@mbank3832 There are multiple. Google Hugh yield interest savings accounts.

    • @kzfingerprint
      @kzfingerprint 28 วันที่ผ่านมา

      IDK the specifics, but recently banks started doing this again - it used to be better back in the day. But I think capital one is ~4% because that's the one I recently opened using a promo code to earn $x if you transfer $x within x days. But it's not just capital one, I just already had a checking account with them.

    • @davidsmith5868
      @davidsmith5868 27 วันที่ผ่านมา

      @@mbank3832 Wealthfront. They are great. They tell you in the beginning of the month what your expected earner interest is, and at the end of the month, they add the interest and tell you how much you actually earned. No penalties for taking money out and no required minimums or maximums to get the 5%.

  • @tranquil5892
    @tranquil5892 2 ปีที่แล้ว +30

    Emergency fund in a high yield savings account.

  • @alec_hiers
    @alec_hiers ปีที่แล้ว +25

    Rachel's great with knowledgeable advice.

  • @wanefelicia8779
    @wanefelicia8779 ปีที่แล้ว +6

    Thank God every day u make good money like that. u are blessed

  • @KNMK259
    @KNMK259 ปีที่แล้ว +28

    This guy is a Starboy. Thanks for the inspiration.

  • @annbullen6983
    @annbullen6983 ปีที่แล้ว

    love this channel

  • @MistaRunIt
    @MistaRunIt 3 หลายเดือนก่อน +9

    Working and living with parents is great

    • @stevelopez372
      @stevelopez372 หลายเดือนก่อน

      That’s right it’s a jungle out there! Why kids are staying home much longer than ever before. Lol.

  • @TerryCollinsP31Lifestyle
    @TerryCollinsP31Lifestyle 3 หลายเดือนก่อน

    Great Question

  • @monicalifornia_
    @monicalifornia_ ปีที่แล้ว

    I appreciate this question.

  • @Stocklove
    @Stocklove 2 หลายเดือนก่อน +1

    Nice video!

  • @MrLopez746
    @MrLopez746 3 หลายเดือนก่อน +9

    Put the emergency fund in a high yield savings account.

  • @nmc8931
    @nmc8931 ปีที่แล้ว

    GREAT question

  • @26Bluegb
    @26Bluegb 2 หลายเดือนก่อน +3

    He keeps saying "in his checking". You can get instant access, with no penalty, in a Money Market Account or High Yield Savings Account.

  • @rtothec1234
    @rtothec1234 3 หลายเดือนก่อน +8

    I just keep enough to avoid the bank and CC fees. Like 5 grand.

  • @LiquidRetro
    @LiquidRetro 3 หลายเดือนก่อน +6

    Ramsey never mentions a HYSA and they should. It's a lot better place to put your emergency fund, zero risk as long as it's under $250k.

  • @David-wo9un
    @David-wo9un 2 ปีที่แล้ว +590

    Love Rachel; she just seems more relatable than other Ramsey personalities.

    • @microfarming8583
      @microfarming8583 2 ปีที่แล้ว +33

      I agree. I used to like the black guy the most though. Where is he now?

    • @kathyarnold7290
      @kathyarnold7290 2 ปีที่แล้ว +2

      I agree!

    • @corydontae6492
      @corydontae6492 2 ปีที่แล้ว +33

      @@microfarming8583 Anthony? He branched off and has his own channel now Anthony O’neal.

    • @johnwilliamsoniii3936
      @johnwilliamsoniii3936 2 ปีที่แล้ว +27

      Rachel and Dr. John are the only ones that I can stand at this point.

    • @Tameker6
      @Tameker6 2 ปีที่แล้ว +7

      @@microfarming8583 are you talking about Anthony or Chris?

  • @shaylaahava6413
    @shaylaahava6413 2 ปีที่แล้ว +75

    They both did a great job answering this!

  • @jvyeknom
    @jvyeknom 2 ปีที่แล้ว +71

    He should just keep his investments and start banking his money now for his emergency fund.

  • @brianpeterson7028
    @brianpeterson7028 3 หลายเดือนก่อน +1

    1:59 "sharp guy" 😂 he probably is, but "lucky guy" would make much more sense. He even said himself that he was lucky enough to not have to pay for college

  • @royrosete7085
    @royrosete7085 หลายเดือนก่อน +1

    This is a high value man. 23 yo and already concerned about his financials. About the liquids, just add more to it until you have 3X to 6X your monthly expenses.

  • @jackieferrarimusic
    @jackieferrarimusic ปีที่แล้ว

    Definitely a good question.

  • @markvb5592
    @markvb5592 2 ปีที่แล้ว +17

    Dave Rachel and Ken are the best.

  • @apurvavpatil
    @apurvavpatil วันที่ผ่านมา

    Few HYSA gives like 5% interest; Citbank, everbank, jenius bank, amex savings

  • @KianaShalix
    @KianaShalix ปีที่แล้ว +19

    Very well said on the emergency fund not making money its insurance and you usually pay for insurance right =) so think of it as an investment to skip the interest payments on that emergency cost. If you have to spend 10k on 6-9% interest making min payments you pay more in interest then you would losing 2-3% on that 10k invested because life happens and it happens more often then you think =).

    • @sjchan3199
      @sjchan3199 หลายเดือนก่อน

      Love rachel and george. This caller has hes head screwed on straight. Well done, your doing a brill job.

  • @amerlin388
    @amerlin388 3 หลายเดือนก่อน

    Definitely needs a bit of a safety net, but if his expenses are minimal (living with parents?) I think he should work towards maxing out his Roth 401k (company match going into Trad. 401k).

  • @George-on3zm
    @George-on3zm ปีที่แล้ว +5

    At 23 this is Amazing!! I wish I was at this point at 23. Wow. Great job kid!!

    • @amgooder
      @amgooder หลายเดือนก่อน

      His parents are rich...he was spoiled the rest are the norm😂

  • @SpoonyLuvification
    @SpoonyLuvification 3 หลายเดือนก่อน

    Sounds like a brand new 2LT. Gone and get that Raptor

  • @GK-bh1tp
    @GK-bh1tp ปีที่แล้ว +4

    Make sure your emergency fund is not in a regular checking account...... An online savings account (ally, amex, ect) is currently giving 1.75% returns!

  • @gr8ride411
    @gr8ride411 ปีที่แล้ว +145

    What a lucky 23 yr old! He’s killing it! Someone raised a smart young man.👍🏽

    • @toctreb
      @toctreb ปีที่แล้ว +4

      Lucky being the key word. Lucky he had free college.

    • @APICSKH
      @APICSKH 3 หลายเดือนก่อน +1

      @@toctrebWell in that case kudos to the parent again. I don’t see any problem in either case ✌️

    • @Wolfstalker21
      @Wolfstalker21 2 หลายเดือนก่อน

      Not the school system lol!

    • @Harp_and_Guitar_Moving_Forward
      @Harp_and_Guitar_Moving_Forward หลายเดือนก่อน

      Sounds like ya know, a super genius

  • @LookAtLilDude
    @LookAtLilDude ปีที่แล้ว

    4:43 yup he is soooo right

  • @tylermorrison509
    @tylermorrison509 ปีที่แล้ว +31

    Cash is the second best performing asset this year (including the high inflation).

  • @DeWoodyard
    @DeWoodyard 2 ปีที่แล้ว +37

    Mr. Cruze is ONE LUCKY MAN!!!

  • @PaulMDiaz
    @PaulMDiaz 3 หลายเดือนก่อน +4

    Why not build your emergency fund in a high interest savings account (ex:Ally)? May not be the greatest investment but sure beats a checking account rate.

  • @grandmastergyorogyoro532
    @grandmastergyorogyoro532 ปีที่แล้ว +3

    Hey Bo, welcome to the show!
    It rhymes well.

  • @jonathanarras1281
    @jonathanarras1281 ปีที่แล้ว +135

    Didn’t have to pay for college? See how not paying for college puts you in a great position in life

    • @d_all_in
      @d_all_in ปีที่แล้ว +19

      If you think paying taxes your entire life for "free" college is cheaper than paying for college yourself, you're delusional

    • @patrickm8010
      @patrickm8010 ปีที่แล้ว +10

      SOMEONE has to pay for it.

    • @elmateo77
      @elmateo77 ปีที่แล้ว +20

      He also got a degree that allowed him to earn $100k+ right out of school. Why should the taxpayers have to bail you out of your english lit major?

    • @waterheaterservices
      @waterheaterservices ปีที่แล้ว +4

      My hard working neighbors owe me a glorious revolutionary free education for Correct Thinking and Speech.

    • @dericanslum1696
      @dericanslum1696 ปีที่แล้ว

      ...without offering a solution or how it was acheived in the first place...the point being...?...

  • @SteveJim-pg3fv
    @SteveJim-pg3fv 2 หลายเดือนก่อน +28

    I'm a father of two who bought a house last year. For me, it was a major turning point! In addition to feeling the effects of the economic downturn, I'm lucky enough to enjoy a respectable monthly income from wise investments that I've made. I have therefore meticulously prepared for my retirement following my children's graduation from college.

    • @ReyreJune
      @ReyreJune 2 หลายเดือนก่อน

      Wow, interesting indeed! Currently I'm in need of investment ideas or tips. Earlier this year I hesitated and failed to take any action until now. However, I'm determined to try something new as I am very open to various investment ideas . I want to be retired in my forties or fifties. I really wish I can achieve what you have achieved and I believe it will happen

    • @SteveJim-pg3fv
      @SteveJim-pg3fv 2 หลายเดือนก่อน

      It's essential to comprehend the complexities of investing. Having a trustworthy support system, such as a financial adviser, who can advise you is crucial, especially when choosing assets.

    • @ReyreJune
      @ReyreJune 2 หลายเดือนก่อน

      Thanks for the advice but it's hard to get a trustworthy financial advisor here..can you recommend one?

    • @SteveJim-pg3fv
      @SteveJim-pg3fv 2 หลายเดือนก่อน

      Generally, investing requires higher knowledge. For this reason, it's important to have a solid support structure to guide you through especially in asset picking. I operate with (Alex martin tarlor) an investment specialist who partners with a licensed wealth management firm. For the record, his experience has been the best for my finance

    • @ReyreJune
      @ReyreJune 2 หลายเดือนก่อน

      Thanks for talking about your financial consultant. I will definitely look him up and get in touch with him

  • @mikestevens2053
    @mikestevens2053 2 หลายเดือนก่อน +1

    One problem with "math-based" thinking, where you keep very little in cash in favor of higher-return investments is this: the very circumstances which create an urgent need for cash are often the same circumstances which cause the market to temporarily tank. Then, you need to fire sell your investments to raise cash. I'd go with Dave's advice on this one, maybe using an online bank to get a little better return on that cash.

  • @joeydziedzic7466
    @joeydziedzic7466 2 ปีที่แล้ว +234

    Ever since the first time I heard it, it made so much more sense. The emergency fund is insurance, and insurance costs you money. Love that!

    • @derekjelinski5651
      @derekjelinski5651 ปีที่แล้ว +1

      Stablecoins and hard metal

    • @DavidRamseyIII
      @DavidRamseyIII ปีที่แล้ว +6

      @@derekjelinski5651 don’t have children

    • @jx6564
      @jx6564 ปีที่แล้ว +1

      @@derekjelinski5651 you mean like UST (Terra)? LOL

    • @financialdecimation
      @financialdecimation ปีที่แล้ว +4

      @@jx6564 Its insane how many ppl had all their wealth in Terra, when you should only put enough you can afford to lose. I suppose some felt they could afford to lose everything

    • @situated4
      @situated4 ปีที่แล้ว

      That's what I've already said. Thx.

  • @achavez78
    @achavez78 ปีที่แล้ว +25

    Also, one more thing:
    DON'T GET MARRIED

    • @ericcastle7296
      @ericcastle7296 ปีที่แล้ว +2

      VERY TRUE

    • @stevelopez372
      @stevelopez372 หลายเดือนก่อน +1

      True, and don’t have kids out of wedlock. Lol.

  • @rnt45t1
    @rnt45t1 2 ปีที่แล้ว +619

    This guy has zero problems. God, I wish I could have been debt free making $100k at 23...

    • @AutotuneSucksBalls
      @AutotuneSucksBalls ปีที่แล้ว +76

      You won’t believe it but making that much money in your early 20s could be detrimental to your future. People at that age do a lot of stupid stuff such as gamble, have multiple girlfriends, buy stupidly expensive cars just to show off and so on. The best time to have money is after you marry , have a house and a child and it won’t hurt at all if you are a Christian too

    • @joeltroughton3021
      @joeltroughton3021 ปีที่แล้ว +84

      @@AutotuneSucksBalls bro the best time to have money is young if you approach life life this.

    • @chocolateangel8743
      @chocolateangel8743 ปีที่แล้ว +60

      @@AutotuneSucksBalls That's what stupid people do. Smart people have a diff. mindset. Plus, there is more info. available now than ever.

    • @shelleestewart584
      @shelleestewart584 ปีที่แล้ว +1

      Exactly

    • @tommyanomaly6193
      @tommyanomaly6193 ปีที่แล้ว +18

      @@chocolateangel8743 Most people are stupid. He's right, most 20 something year old's with a lot of money go nuts. I probably would have too.

  • @mccoyji
    @mccoyji 2 ปีที่แล้ว +1

    Counter party risk yo!!!

  • @user-ci7iy3ge1t
    @user-ci7iy3ge1t 10 วันที่ผ่านมา

    I withdrew all my money and purchased gold and a home in baja😊

  • @drkarenbukharibukhari9931
    @drkarenbukharibukhari9931 3 หลายเดือนก่อน

    🎉goodadvice

  • @daveclow4920
    @daveclow4920 3 หลายเดือนก่อน +1

    He could put the cash in a checking account at a credit union and make 3% to 4% annually

  • @bagofchips55
    @bagofchips55 ปีที่แล้ว +1

    I've never had to ask myself how much is to much

  • @keco185
    @keco185 3 หลายเดือนก่อน +4

    The real answer is that emergencies are more common when the market is bad. You don’t want to be forced to pull from your investments at the worst possible time

    • @mikestevens2053
      @mikestevens2053 2 หลายเดือนก่อน +1

      Bingo, you nailed it!

    • @alansach8437
      @alansach8437 หลายเดือนก่อน

      Seems that way, doesn't it? If the roof is going to blow off at the same time the car takes a crap, you can bet the market is in the toilet!

  • @curlrain
    @curlrain หลายเดือนก่อน

    Half of my emergency fund is in a short term bond ETF or short term bonds the rest is cash. ETFs are very liquid and their current rate is more than 5%.

  • @linda7345n
    @linda7345n 2 หลายเดือนก่อน +1

    Loved the advice; and well done to the young guy for doing so well so early in life!

    • @christianrodriguez5346
      @christianrodriguez5346 2 หลายเดือนก่อน

      I just got recommended this vid. I also have a similar salary after graduation. No debt either. My parents are letting me stay at home so I can save and invest. I don't have crypto that is the only thing that the guy and myself are different in. Single as well. So I will just focus on work and treat myself with moderation. Definitely would be saving for a house while doing investing and treating myself and my parents.

  • @saints9577
    @saints9577 2 หลายเดือนก่อน

    It takes 1.5 business days to transfer money from my money market (5.26%) to my checking account.

  • @Holdeenio
    @Holdeenio หลายเดือนก่อน +1

    I love it when they bust out the old school air control headsets

  • @christianrodriguez5346
    @christianrodriguez5346 2 หลายเดือนก่อน

    I am 22 and I am about to make similar money as this guy and my parents are letting me stay to save and invest. I am going to help them out whenever they need me of course. It is nice to hear a guy like this talking because I am also heading the same direction. No bitcoin though. I only have 15k in my bank account. Debt free as well. I feel good hearing and I am pumped.

  • @ThaBloodWitch
    @ThaBloodWitch ปีที่แล้ว +3

    I've always wanted to hear them address the concept of a checking account buffer, even when you're on bs 2. I thought that's what this video was, without the investment part.

    • @HandleToWatch
      @HandleToWatch ปีที่แล้ว +1

      The buffer recently came up for us in conversation. We are on BS3B. Our FFEF lives in our savings out but we have about 1K (half a month's expenses) in the checking account as a buffer. When emergencies pop up we usually pay off from the buffer instead of pulling from the savings account.

    • @ThaBloodWitch
      @ThaBloodWitch ปีที่แล้ว

      @@HandleToWatch Makes sense! I just have wondered if you're following his plan and every red cent outside the starter e fund goes to debt, how much margin do folks allow themselves in checking in case a bill goes higher than they expected?
      Overdraft fees are awful. It's always seemed to me they preyed on the poor that way.

  • @MENSA.lady2
    @MENSA.lady2 24 วันที่ผ่านมา

    As Little as possible. Enough to pay your normal monthly outgoings, like a mortgage. and food. Put all you can afford into bullion. In an emergency you can cash in a Golden Eagle or two. If your bank goes belly up you can't lose much.

  • @michaelj6587
    @michaelj6587 ปีที่แล้ว

    Good advice--thanks! PLEASE work with your audio tech on plosives--the issue is either the mic itself or the mic placement. Very annoying. But thank you again for the advice!

  • @zenphoenix5911
    @zenphoenix5911 3 หลายเดือนก่อน +4

    I hope he didn't sell his BITCOIN. It's up over 140% from when they gave this advice.

  • @ScienceMinisterZero
    @ScienceMinisterZero 3 หลายเดือนก่อน +15

    Horrible advice on the Bitcoin.

    • @JP-kl4zk
      @JP-kl4zk 3 หลายเดือนก่อน +2

      These people clearly haven't done any reading to understand bitcoin. It's okay if you are not interested or lazy but don't make any recommendations regarding an asset if you don't know anything about it.

    • @alansach8437
      @alansach8437 หลายเดือนก่อน

      Bit coin exists only as electronic bits on a computer. Warren Buffett says never to invest in anything you can't fill up a stadium with! If I buy Apple Stock I can fill a stadium with computers, if I buy Exxon Stock I can fill it with gasoline. These companies produce tangible goods. Bit coin exists only in the imagination of the people who agree that it exists! No thank you! I don't care what you say it's worth. I don't care how much money some people have made. It isn't tangible.

  • @michaelrdangelo
    @michaelrdangelo หลายเดือนก่อน +1

    what would he need instant cash for? Ransom? LOL. Also, bad call on the Bitocin! Whoops!

  • @jondoe5305
    @jondoe5305 ปีที่แล้ว +15

    I would like to have a paid off house , live off dividends from S & P 500 and have an Emergency fund.

  • @somerandomgamer1260
    @somerandomgamer1260 หลายเดือนก่อน +1

    is there any reason to have a "boring old savings account making 1%"? Considering how many high yield savings accounts there are these days. My emergency fund is in a 4.9% savings account.

  • @barbarabinstock272
    @barbarabinstock272 3 หลายเดือนก่อน +16

    Imagine cashing out of bitcoin at $16k one year ago and watching this back today

    • @bennyl7224
      @bennyl7224 3 หลายเดือนก่อน

      🤷🏿‍♂️ he didn’t have an emergency fund

    • @MrsAyub-gf5wy
      @MrsAyub-gf5wy 3 หลายเดือนก่อน

      😮100k in 1yr from now.

  • @ld4974
    @ld4974 ปีที่แล้ว +5

    Cash in the bank is looking pretty good about right now.

  • @slhines7
    @slhines7 2 ปีที่แล้ว +44

    Greenspan: "We can guarantee cash, but we cannot guarantee purchasing power"

  • @vincentmaloney5835
    @vincentmaloney5835 3 หลายเดือนก่อน +2

    I like online savings accounts. For example, Synchrony Bank High Yield Savings Account, 4.75% APY, no minimum balance. It is much better than regular savings account.

    • @jaedyn06
      @jaedyn06 3 หลายเดือนก่อน +1

      I put all my money that I’m not investing or using in my HYS Synchrony account.

    • @vincentmaloney5835
      @vincentmaloney5835 3 หลายเดือนก่อน

      @@jaedyn06 Me too. I like this account a lot.

  • @miltongonzalez8726
    @miltongonzalez8726 หลายเดือนก่อน

    Lol. "It's not doing great" that did not age well. 😂😂😂

    • @SystemChannel
      @SystemChannel หลายเดือนก่อน

      Bitcoin was at about $30K when they recorded this. I think he knew not to sell it.

  • @basschaser9356
    @basschaser9356 3 หลายเดือนก่อน +24

    A lot of these callers call just to brag and they already answered their own question . Have someone more realistic making 40-50k with normal expenses bills

    • @teamvoldemort6114
      @teamvoldemort6114 หลายเดือนก่อน

      90% of these calls are train wrecks. Not hard to find. Nice to see a good example for once where someone is doing the right things and is winning.

  • @cristiandiaz8497
    @cristiandiaz8497 3 หลายเดือนก่อน +2

    High Yield Savings account, Marcus is great right now

  • @trollol_
    @trollol_ ปีที่แล้ว

    ya Bo my boy, you might want to spend some money on an engagement ring LOL

  • @redb.3885
    @redb.3885 2 หลายเดือนก่อน

    Why not ladder cd’s or T-bill’s?

  • @luisalvarez9250
    @luisalvarez9250 ปีที่แล้ว +2

    Even the emergency fund it’s not safe at the hands of banks!

  • @freedomworks3976
    @freedomworks3976 ปีที่แล้ว +6

    Half a years wages in savings is what I like 👍 👌

  • @frozenburrito9313
    @frozenburrito9313 2 หลายเดือนก่อน

    A few thousands of cash depreciate like 100 dollars a year, which is totally fine for the peace of mind it gives you

  • @bobdadruma
    @bobdadruma ปีที่แล้ว +1

    Try to maintain a Min of 20K in savings. 5K in checking.

  • @Livelaugh44
    @Livelaugh44 ปีที่แล้ว

    Finally a comment as to the fact that “life is important too” lol

  • @chadpurser
    @chadpurser 3 หลายเดือนก่อน +21

    I would say put it in a high interest savings account (currently ~4.5%). It is still easy to get to.

    • @longbeardmcstruttin5876
      @longbeardmcstruttin5876 3 หลายเดือนก่อน +2

      Who is offering that

    • @vonzaag4555
      @vonzaag4555 3 หลายเดือนก่อน

      @@longbeardmcstruttin5876sofi

    • @SamEichel
      @SamEichel 3 หลายเดือนก่อน

      @@longbeardmcstruttin5876ally, so-fi, many other banks

    • @maccam26
      @maccam26 3 หลายเดือนก่อน

      @@longbeardmcstruttin5876many .. synchrony bank, PayPal savings, Truliant, etc…

    • @pdx7776
      @pdx7776 3 หลายเดือนก่อน

      Ally has 4.35%

  • @terriesmith2616
    @terriesmith2616 2 ปีที่แล้ว +117

    For me, $3K in a checking account won't even pay my bills past a month. Even if his monthly expenses is less than mine, $3K is still too little liquid to have.
    I wouldn't put myself in a position where if an emergency comes up, I'd be forced to sell my investment especially when said investment is at a low, so it would be selling it at a loss. That's a terrible position to put myself in, which I'd never do. A safe liquid amount for a low expense person would be around $30K, but that's just my opinion.

    • @garchah1
      @garchah1 2 ปีที่แล้ว +37

      10k is pretty good.

    • @oglocbaby520
      @oglocbaby520 2 ปีที่แล้ว +26

      30k is a lot of money to have just basically sitting there doing absolutely nothing. For a single person that isn't elderly or sickly I can't even imagine what type of emergency would pop up where you'd need anywhere near that amount. If you were to lose your job you could easily find some sort of replacement gig, there is a massive worker shortage right now. I personally have about 8-9 months of my expenses in cash and I really don't feel I need more than that.

    • @oglocbaby520
      @oglocbaby520 2 ปีที่แล้ว +14

      @@garchah1 10k is enough to cover for things like home or major car repairs. If you were to lose your job it's a decent sized cushion you can fall back on. Again, it all comes down to your individual circumstances, a single individual with no kids and little to no debt should be fine with something like that.

    • @kuryanthomas1438
      @kuryanthomas1438 ปีที่แล้ว +4

      sounds like for his basic living expenses he lives paycheck to paycheck and being very aggressive with investing, everything else he invests.

    • @WideAwakeHuman
      @WideAwakeHuman ปีที่แล้ว +6

      it's so variable person to person you really can't judge what is a good amount for someone else in a different city... I've got over a year's worth of expenses in cash and I like the security - and yes I've got other investments so I'll be fine in the tiny chance that the dollar goes into hyperinflation. I think people get too focused on the "don't have anything but the bare minimum in cash" cuz you're losing money thing

  • @PaintworksProtectiveCoatings
    @PaintworksProtectiveCoatings 25 วันที่ผ่านมา

    Sharp guy

  • @SammiFidel-so5tx
    @SammiFidel-so5tx 3 หลายเดือนก่อน +1

    Where is Dave

  • @kathy.7475
    @kathy.7475 3 หลายเดือนก่อน +20

    He sounds like my grandson. He is 23 and had $20,000 in his savings before he graduated from high school. He worked odd jobs. He bought a house last year. Now he has his own construction company.

    • @rancorslayer5228
      @rancorslayer5228 2 หลายเดือนก่อน

      Wow that’s impressive! I’m sure you’re very proud of him.

  • @SammiFidel-so5tx
    @SammiFidel-so5tx 3 หลายเดือนก่อน +1

    Vow is probably can be a bit different from the USA 3:36 🇺🇸

  • @yohanniskassahun
    @yohanniskassahun ปีที่แล้ว +4

    i have 250000$ in my saving account but idon't know what to do .i was gonna buy a house but the price is too expensive?

    • @user-hv1sk2zx6u
      @user-hv1sk2zx6u ปีที่แล้ว +1

      Buy a land back home with that money. $25000 won’t get you a house here.

  • @Sky1
    @Sky1 2 หลายเดือนก่อน

    Yup, Stocks are volatile. I lost almost 17 Grand last week.
    It took almost 3 days to make it back

  • @richardtilford4229
    @richardtilford4229 หลายเดือนก่อน +4

    These Ramsey proteges have been way off on BTC. Watching this a year later. this guy would have 3x his money. That is the problem with know-it-all investor gurus.

  • @GM-ro7hf
    @GM-ro7hf 2 หลายเดือนก่อน

    In regards to an emergency fund, I’d rather invest my money in a mutual fund and have a line of credit for quick access to cash. What if you sat on the cash for 5 years because you never had an emergency? The opportunity cost there would be far greater than the potential need to access a line of credit short term.

  • @blessings4life
    @blessings4life ปีที่แล้ว +1

    Ramey loves finance so much he gave his Daughter.

  • @jimroscovius
    @jimroscovius 3 หลายเดือนก่อน +3

    1%? My emergency fund, sitting in a bank, makes 3%. And it's available instantly - I even have a debit card for it.

    • @cnewton6527
      @cnewton6527 3 หลายเดือนก่อน +4

      This video is from a year ago. 3% is good at a brick and mortar bank. Fidelity account is almost 5% today.

  • @marilynnstubbs4834
    @marilynnstubbs4834 22 วันที่ผ่านมา

    FYI, Bitcoin doubled in the last year.

  • @robryan9675
    @robryan9675 3 หลายเดือนก่อน

    These guys are like the first grade when it comes to Finance. Absolutely not designed for anyone with any sort of financial sophistication.

    • @alansach8437
      @alansach8437 หลายเดือนก่อน

      Which is most people! Which is why it's such good advice!

  • @rebeccaoprea9917
    @rebeccaoprea9917 2 ปีที่แล้ว +119

    He seems and sounds more mature than others his age .

    • @randallblank9531
      @randallblank9531 ปีที่แล้ว +4

      Likely because its a staged call?

    • @alia1824
      @alia1824 ปีที่แล้ว +3

      It’s clearly fake

    • @trentonpearson7353
      @trentonpearson7353 ปีที่แล้ว +4

      @@alia1824 It's not a staged call because I have been a caller on the show

    • @Nawalta
      @Nawalta 3 หลายเดือนก่อน +1

      Yeah that was my thought too. Either he’s lying about his age or he grew a little too quick. Being responsible is great, but I hope he allows himself to enjoy his 20’s too.

  • @McFlashh
    @McFlashh หลายเดือนก่อน +1

    Funny how some people go to this show to ask for financial advice, bro they aren't Warren Buffett.

  • @PercyTP5161
    @PercyTP5161 หลายเดือนก่อน +2

    "Cash out the BTC, it's not doing that well"....this aged well 😅

  • @francism9414
    @francism9414 2 วันที่ผ่านมา

    Love how wrong they were about bit coin. The one thing I don’t like about the Ramsey people is how against crypto they are and stuff like that

  • @tho464
    @tho464 3 หลายเดือนก่อน +5

    Note: if you need liquid cash in bulk, the bank may make you order it which could take a couple days. Banks don’t like to give out $10K all at once. Have some cash in a safe too.

  • @prodbywoody
    @prodbywoody 2 หลายเดือนก่อน +1

    they say the guy should take his money out of BTC because its doing bad but then turn around and say the stock market is down alot and its a great opportunity😂😂

  • @nickvin7447
    @nickvin7447 3 หลายเดือนก่อน

    Depends on the interest rate...