"Emergency funds are for retards." Coli Poster
- Thread starter Sad Bunny
- Start date
R.E.N. Spells Ren
Veteran
You have 30+ days to pay a credit card expense. That’s more than enough time to get money out of a non-retirement brokerage account.
I do agree that breh talking about using a 401k as “emergency funds” is silly, tho. And dude who’s talking about it is clearly capping.
Nah man. Me and my wife own a house. We keep a little over 3 months salary (both of our salaries combined) in a HISA at our Credit Union. Emergencies beyond that have the full breadth of our credit cards afterwards.
There is no way an unexpected high cost auto repair + the sudden need for a $8k+ furnace is going to send us to withdraw from our IRA's or heaven forbid deplete or borrow against our 401k. That's just madness. I understand people learn the lesson of idle cash being bad, but there's context to consider; and you don't need to overdo it. Having instantly (same day) accessible fiat on hand for emergencies is fine if it's done within reason. I would even recommend it after the 2020 we had. I'll bet a lot of people wish they had a buffer when that shyt hit last year.
There is no way an unexpected high cost auto repair + the sudden need for a $8k+ furnace is going to send us to withdraw from our IRA's or heaven forbid deplete or borrow against our 401k. That's just madness. I understand people learn the lesson of idle cash being bad, but there's context to consider; and you don't need to overdo it. Having instantly (same day) accessible fiat on hand for emergencies is fine if it's done within reason. I would even recommend it after the 2020 we had. I'll bet a lot of people wish they had a buffer when that shyt hit last year.
Dog.....the average American is broke my nikkaWho needs an emergency fund to fix a flat tire?
And I'm talking about all emergencies.Who needs an emergency fund to fix a flat tire?
Transmission
Hvac
Job loss..etc....
Not just trivial small emegenicies
Nah man. Me and my wife own a house. We keep a little over 3 months salary (both of our salaries combined) in a HISA at our Credit Union. Emergencies beyond that have the full breadth of our credit cards afterwards.
There is no way an unexpected high cost auto repair + the sudden need for a $8k+ furnace is going to send us to withdraw from our IRA's or heaven forbid deplete or borrow against our 401k. That's just madness. I understand people learn the lesson of idle cash being bad, but there's context to consider; and you don't need to overdo it. Having instantly (same day) accessible fiat on hand for emergencies is fine if it's done within reason. I would even recommend it after the 2020 we had. I'll bet a lot of people wish they had a buffer when that shyt hit last year.
Someone gets it lol
There are people who make less than me but have more money saved and less debt.I’m done talking money on here I ain’t got it like the 6 figures, 6 cert nikkas so I’ma just stay quiet
It isn't about how much you make it.
Just stay debt free.
But yeah...I'm done talking about it.
Everyone has their own opinions
Toe Jay Simpson
Searchin’
I’m bout to blow through some of mine crate digging. Found a new spot
Except credit cards have to be paid back with interest. And the longer it takes to pay it back, the more interest you have to pay. And generally, if you could realistically pay off the card before interest accrued, you probably wouldn’t need to pay for your emergency with a credit card in the first place.
Roth ira. You can withdraw contributions without penalty. You cant withdraw earnings
if there is a bear market take your money and buy for low so you can make 400-800% when the market goes back up. My nikka.. In the last 20 years you know how many times i had a "oh shyt, i neer money today" moment? NOT ONE TIME! Use your credit card and you have 30 days to pay it back how fukking hard is that? The reason people think they need a emergency fund is because nobody actually teaches financial education.
10k in a emergency fund vs this
![[Something Cool]](/data/avatars/m/1/1586.jpg?1601998769){kind=avatar}
[Something Cool]
Not a Well-Known Member
Not having a stash of liquid capital and funneling all or a substantial amount of your funds into stock picks is the WOAT decision somebody can make. Most day traders over time lose money. Plus, you’re going to make the WORST decisions on when to buy and sell if you start losing money you can’t do without.
Keeping a portion of your brokerage account in cash is a different story. If you’re investing in stocks, I think should do that anyway so you have cash on hand to buy on dips or just take out if you really need it.
Keeping a portion of your brokerage account in cash is a different story. If you’re investing in stocks, I think should do that anyway so you have cash on hand to buy on dips or just take out if you really need it.
DaddyFresh
Superstar
The point was what if you need to pull money in a bear market? How can you buy the dip?
Emergency fund imo should be 3-6 months of expenses. If you do that your comfortable and if their is a massive bear market you can use some of that money to buy dirt cheap securities. Almost all professional investors have money on the side. Nobody puts all their liquid assets into investments.
