I know the general consensus is “6 - 12 months in your savings account in case you’re without a job”, but what do I do when I reach that goal? Just keep saving?
I’m just unsure because there’s no set rule. Plus I’m of the mind that money I can spend now is better than money sitting in a bank I may (not) get to use later in life. Also, I already have a 401k and Roth IRA. So how much saving is too much?

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Could always save the rest towards down payment on a house or taxable investment account

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That’s a great idea A1. I have a Robinhood account and I do have property owning goals! Thanks

helpful

quick and dirty guide

Post Photo
likehelpful

np! i do agree with your original post tho that an emergency fund of 6-12 months might be better in this economy

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Put more into Roth IRA via backdoor
Create a brokerage account and invest for long term savings

Or

Spend it on something nice / save for a house
Upgrade, etc - if you’re of the kind that money spent now is better

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Lol yeah. It’s a fun way to keep passengers entertained. Main thing for me is I don’t completely hate traffic now, just turn on autopilot and putz around on my phone

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Save and invest. You are responsible for your own future including your finances. We have no idea what if any national resources will be available years from now, so assume no social security, no Medicare etc... You need to make sure you can live comfortably for the rest of your life into retirement. So maybe get a side gig too.

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Completely agree D1, I’m assuming borst (best and worst, lol I just made that up) scenarios when saving. These past 3 months have shown me how tenuous this whole thing (consulting, the state of the country, capitalism, etc) is so I’m already on the side hustle game. That’s part of the reason I’m nervous about saving *too* much because what if I need the money ASAP and can’t get to it?

No, you don't keep saving, you give the rest away😋😋😋

funny

I pride myself on being the Fun Aunt so say less TC1 😭 Oprah with the Christmas gifts. Can do

Solely preferences. I spent the last 15 years in debt with negative net worth, but I’ve got a lot of great experiences, many of which cannot be replicated for any price. I’ve been climbing out of debt now and that feels good too, but I don’t have regrets. Look up the consumption smoothing model https://en.m.wikipedia.org/wiki/Consumption_smoothing

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Lol, glad for the throwback. Alternatively, I have a friend going the FIRE route https://en.m.wikipedia.org/wiki/FIRE_movement. It’s all personal preference

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