How much is needed in an Emergency Fund in Retirement
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- เผยแพร่เมื่อ 18 ก.ย. 2024
- A good Emergency Fund is critical to have in pre-retirement to ensure unexpected expenses do not get in the way of your retirement savings goal. How much is needed once retired? I'll share my thoughts, reasonings, and what we are planning for our Fund in the future.
Hello, my name is Jeff. Welcome to the Retired Farm Boy channel where I discuss topics on how to simply have a fun and fulfilling retirement. Each of us have our own unique retirement. On this channel we will include content topics that we all face along with my version of retirement which includes life on a small farm.
After a career in Information Technology, I retired to a small farm life in July 2022. We all share the same goal - a rewarding, secure, and fun retirement!
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I currently have just over 18 months of living expenses. I will have to buy a car between now and the end of the year as I will have to give up my company car.
I expect to have roughly a year's worth of living expenses left. I plan to try and keep this at this level to provide a way to ride out downturns in the market when I start drawing from my retirement accounts.
You appear to be more conservative than me even!👍 Good thoughts on the vehicle “allowance”. I wonder if many people take in to account the big ticket items that are going to happen. My wife & I focused on upgrading our vehicles as part of prepping for retirement. Thks for comment; wish you the best. Jeff
@@RetiredFarmboy I never considered myself overly conservative. My goal with having a conservative cash position is to mitigate a little more aggressiveness on the equity side.
My plan is to split my retirement accounts. One will be a traditional 3 fund strategy (stocks, bonds, cash), and the other I will use to trade options. In a perfect world I can make enough trading options to let the majority of my portfolio sit and grow.
120 days and the journey begins!
@@OldGuyTalksMoney great plan & you’re gonna love retirement!
@@RetiredFarmboy What part of TN do you live in? We are outside Columbia
@@SCIGS30 I live north of Nashville in Robertson county, so we aren’t too far apart.