Do You Have An "Emergency Fund?"

Papa_Smurf

Twelve Pointer
Contributor
My 15k liquid cash isnt earning enough interest to speak about, but thats the minimum I feel comfortable having access to instantly. Any extra goes to the wifes car payment.

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woodmoose

Administrator
Staff member
Contributor
,,,,,, before paying for the first year of college for my daughter.

been there, done that,,,,,but it is satisfying knowing that I enabled them to graduate college with zero debt,,,that was a promise I made to them when they were in grade school and I had to make good on it,,,
 

SUDDEN IMPACT

Eight Pointer
I guess I'm doing things wrong? ?‍♂️ Although I'm holding shares and plenty of acres of land, I don't have a years worth of funds saved up
 

Blackwater

Twelve Pointer
I’d like to say I had all sorts of emergency funds saved up during the 60’s, 70’s, 80’s...but never did.
Out of the USAF with nothing back in the 60’s...entry level wages...then starting a family, etc...I leaned out over a cliff a lot of those years.

Sounds like me, only I already had the family when I got out and the view over that cliff revealed quite an abyss at times.
 

DRS

Old Mossy Horns
Yes. Took me most of my life to finally have a small cushion. Hope something don't come along and eat it all at one time. Half a years salary in cash/bank. Year salary in investments.
 

oldest school

Old Mossy Horns
Yep. Mine was bigger before paying for the first year of college for my daughter. Building it back up every couple of weeks.
and then there's the wedding. daughters can play havoc with a nest egg.
or at least mine has/does/will. :LOL:
 
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Greg

Old Mossy Horns
Another thing .... when you're young, time is your FRIEND.
When you're older, it could be your enemy.

Start as EARLY AS YOU CAN.

We had funds for our boys for college earmarked separately for each by the time each started. Our older son went to the USAFA and got it all. Our younger son is finishing this semester ... with a decent/modest $$ amount in the bank.
 

DBCooper

Old Mossy Horns
Contributor
I could probably retire. But, my financial advisor is an optimist. He got our pro-forma based on me living to 95. So, I keep throwing money at it.

Lol. I’ve already told my wife she’s green-lighted to invoke the “old yellow” clause, if I get sick.
 

Greg

Old Mossy Horns
I could probably retire. But, my financial advisor is an optimist. He got our pro-forma based on me living to 95. So, I keep throwing money at it.

Lol. I’ve already told my wife she’s green-lighted to invoke the “old yellow” clause, if I get sick.
The only reason we're not totally retired is health care benefits, which will be resolved in less than 3 years.
I have also invoked the Old Yeller clause ... told my wife to give me a .22 rifle and just send me wandering out in the woods.
 

aya28ga

Old Mossy Horns
Contributor
I’d like to say I had all sorts of emergency funds saved up during the 60’s, 70’s, 80’s...but never did.
Out of the USAF with nothing back in the 60’s...entry level wages...then starting a family, etc...I leaned out over a cliff a lot of those years.
Luckily, employment was solid, and managed to get through to retirement OK.

Pretty much the same story for me too. Spent my early years recovering from the mistakes of "wife number one's" financial habits, and didn't really get financially even until I was in my early 30's. Thankful, wife #2 is an even cheaper date than I am......

And thats another word of advice I always like to pass along; be smart, and marry a woman who has the same financial thoughts & goals that you do.
 

took

Ten Pointer
Contributor
^ what Aya28ga posted reminded me of the advice my Uncle gave me when I was in my teens....

He said: “always remember this; most of your joy, and all of your pain, will come from who you select to marry”

I always thought that was funny, and likely true. I took his advice and will be celebrating 32 years tomorrow.
 

DRS

Old Mossy Horns
Just advised a young adult, to invest. Wish I had invested more when I was in my 20's. I would be retired in a few months if I had. I will always have to work, even if it would only be part time or seasonal. I have already faced this reality.
 

Blackwater

Twelve Pointer
^ what Aya28ga posted reminded me of the advice my Uncle gave me when I was in my teens....

He said: “always remember this; most of your joy, and all of your pain, will come from who you select to marry”

I always thought that was funny, and likely true. I took his advice and will be celebrating 32 years tomorrow.

Congratulations! My bride and I celebrate 56 on the 19th; picked the right one first time.
 

Mr.Gadget

Old Mossy Horns
It was to you. Blast me I don’t care. If we are good people why the jokes ? I live here and know it ain’t all good at all ha but just got a bit pissed at that post
Man back up. Dont take things so hard.
Got family up there, like them and the location. They are the ones that joke about that stuff all the time. It was just a joke. Had no clue you were from there or you would get your feelings hurt.
 
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