After being at a string of failed startups (one blew up after I left with no equity 😅) working on and paying for my degree all along the way, I have $40k in debt, $10k cash (after one year of saving post graduation), and make $120k total. I’m 40 next year and want to break the cycle, where the hell do I start? For reference, I want to travel and enjoy life but also want to have a solid savings. Probably my biggest issue is that I give zero f%*>s about money, it gives me very little value.
Married DINKs- 6 months of regular expenses. Would certainly last longer if we were more careful with frivolous things. We’ve always kind of had it and built it up as our spending went up. Might take 3 months to build back if we wiped it out. We could also definitely get away with less, the chances of both of us losing our jobs at the same time is slim and we’re both pretty employable. If I was single, I’d feel better having more like 9+ months of living expenses, but I’m a bit of a nervous nellie.
Sheesh, you guys are flourishing😭 SO and I are going into the new year trying to get our finances right. We’ve been aggressively paying off debt but the lack of an emergency fund has been spooking us, so we’re thinking about slowing down for a few months to put some money away. HHI just jumped from 140 to 180 with a new job I started 2 weeks ago. Want to take advantage
Mine is 3k (young, not married, no house, make 100k). Not much compared to some so I was able to fund it using a tax refund + some of a paycheck.
$18k, like 6 months, I forget. I was saving for a down payment on my house last year at the same time. HHI at the time was $140k.
$12k in USDC on Voyager earning 9% interest.
25M single and no dependents.
Sent DM
I’m 44 and live in HCOL area with a spouse, kid, and mortgage. My 6-months-expenses emergency fund is $36k ($6k/mo to cover mortgage & essentials). A few years ago I was in between jobs so I take the emergency fund more seriously. HHI is $450k and we have $2.4M across investment accts (outside of emergency fund), but if a big crash hit and we lost our jobs we wouldn’t sell any investments and could cover 6 months expenses.
$150k— about 18 months of expenses. Really should invest more of that.
$60-70K fluctuates, but this covers 1 years worth of expenses if we were to ever lose both our incomes, which is highly unlikely. It’s held in Cap One HYSA and Voyager USDC. HHI is $400K.
$10k. No housing costs, single, no kids, very liquid investments, HHI of $300k.
Mentor
~85k. Would cover about 7 months of everything (annual is usually about 140-145k all in). Two adults and a toddler. Slowly working up to $100-110k range.
HHI is ~400k.
I have $2-3k in my bank account, then the rest is invested in easily accessible items. It would take me 24 hours to get money from selling some stock/crypto. Not many situations, if any, where I need cash, immediately, and can’t use credit.
60k about a years worth of expenses, HHI ~$300k
Fwiw emergency funds lose their value at some point. If you have no debt and relatively secure NW, it does more harm than good.
HHI 325k, I only keep enough cash to pay this months bills.