What Is the Best Strategy for Refilling My Emergency Fund?
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- เผยแพร่เมื่อ 18 ต.ค. 2024
- What Is the Best Strategy for Refilling My Emergency Fund?
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At this point there are stretches where my cash reserves feel like nothing more than a passthrough account, so what works for me is just setting aside a specific amount of dollars every month same as my 401k and other investments. Invariably when the account gets well funded a car needs fixing, or medical expenses or home repairs. This always drives me nuts. My wife reminds me it is good to have the cash when life happens.
You should NEVER use your emergency fund, even in an emergency. You need to save it for an emergency.
Skyrim taught me this. Thank you for putting my thoughts into words 😂
Haha😂
These gentlemen have a lot of class,always sharing their valuable knowledge 👍🏼🙏🏼🇺🇸
Investing's most important part is time. Don't give up time investing.
I agree. Once I've started investing, I think it's less-than-ideal to "pause" (meaning stop completely for a short period). I'd rather invest less for a time to take advantage of the time for growth while I also rebuild cash. You'll never get that time in the market back. Grow both at the same time and if another emergency comes along, there's still more extreme options to work with.
It's all about priorities. Your emergency fund is your parachute. You can jump with it, or jump without it and hope you get one on the way down. Which do you prefer?
@@TheFirstRealChewy I don't necessarily think the "all-or-nothing" analogy is the most optimal way forward in the vast majority of situations for most people. We all make our own decisions based on our own individual situations in the specific circumstances in which we find ourselves. I won't tell anyone they're "jumping without a parachute" (which sounds like a fear-based, emotional accusation of recklessness) when someone is, in fact, taking steps to rebuild the e-fund at their own pace. It is about priorities, but most people don't have the luxury of having only one single priority at a time.
Like Warren Buffet, just keep $188.99 Billion in cash.
neked
I blew half my emergency fund paying a hurricane insurance deductible.
I'm on my way to the office and I just realized that I'm not wearing any pants. Should I continue to the office and pickup a pants during my lunch break, or get a pants now?
Implying that from the time you start to your lunch break, you will be at work with no pants?
Thanks! It’s very late and I’m watching this and not really understanding. This is a silly enough analogy I think I’ll remember it for a while, plus it helped me make sense of their advice in this case! (Mostly because I’m in this situation, but I work from home so pants are optional)
Hallelujah!!! I’m blessed and favored with $60,000 every week! Now I can afford anything and support the work of God and the church. For Your glory, LORD! HALLELUJAH!
That’s fascinating! I’m always keen to learn about people’s successes. I’d love to hear more about your achievements.
This is what Ana Graciela Blackwelder does, she has changed my life.