/biz/ - Business & Finance

>>15160674
>>15160710

>>14043155

>>13093499

>>12743195
>>12743323

>>12676307

>>12663993
Emergency funds should be put in safe, liquid accounts such as checking or savings accounts. The goal is for the fund to never decrease in value and to be able to retrieve the money very quickly should the need arise.

They should not be put in any type of investment as this could result in losses or even in the impossibility to get the money out quickly. As well, a credit card should not be considered an emergency fund because of the high interest, and neither should a line of credit as it can be taken away at any time.

>>12411139
join us. we're waiting

*siiiiiiiiip*

>>12392275
that depends on the specifics of the mutual fund. for example, they might automatically DRIP the dividends to buy more underlying shares instead of passing them on to you. really, what you should look at is expense ratios of the funds, anything approaching 1% is atrocious

>>12389948

>>12107148
no keep at least 1k or 6 months expenses in cash, whichever is greater

>>11218971
> no safety net is spooky place so I'm taking risks
ask yourself why you would take risks when you dont have a saftey net. when you dont have a saftey net is exactly when you shouldn't take risks.

>>10222033
well, you have to do something with the money you put in your 401k and IRA. Most people buy stocks.

https://www.bogleheads.org/wiki/Three-fund_portfolio

>>10162138
follow pic related
however much you have left over, basically

>>10162132
thanks based

>>9950684
I like this flowchart

> I've managed to set aside a little more than $1,000
congrats OP. you're gonna make it and I'm absolutely serious. the rist $1k is the hardest. imo keep that money in cash in case of emergencies. once you get 6 months expenses saved up, you can take some risks.

good luck lad

>>9107679

let's discuss our personal finances /biz/
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