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/biz/ - Business & Finance

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30393005 No.30393005 [Reply] [Original]

>you MUST have a 6 month emergency fund in CASH

>> No.30393107

>>30393005
>OP doesn't have a 6 months emergency fund
WHAT A LOSER

>> No.30393401

my mom asked for money and she doesn't know I gamble all my money on shitcoins. what lie do I come up with to say I don't have any money on me? it's best to keep few hundred tucked somewhere imo.

>> No.30393429

>>30393401
"spent it on drugs"

>> No.30393518

>>30393005
Literally grade A retard advice. Every last cent should be invested. Although for a "6 month emergency fund" you can keep it in an extremely liquid assets. >Inb4 but what if it crashes? Cash is literally always crashing continuously over the last 100 years. There is literally no place statistically worse to keep your money

>> No.30393571

>>30393005
imagine holding cash

>> No.30393606

>>30393005
it's called a credit card

>> No.30393640

>>30393005
You should always have a lot of cash

>> No.30393666
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30393666

>>30393005
>you MUST have a fund at all

>> No.30393698

>>30393606
Came to post this. The only reason to keep liquid cash is because you have shit credit

>> No.30393728
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30393728

>>30393640
I'm a multimillionaire and I can assure you I don't hold any cash. You're a fucking retard. Every cent in cash is a cent not making >12%+ per year as an investment. Not to mention spending cash is grade A retarded because you are missing out on 1%+ credit card rewards

>> No.30393745

>>30393005
>market crashes
>lose job
>get hit by a fucking truck
>can't pay hospital bills
>get thrown out on the street to die like a dog, because your net worth is so low that you can't afford to keep money aside just in case everything that can go wrong, does go wrong

>> No.30393872

>>30393745

You don't have insurance? You telling me you don't work?

>> No.30393877

>>30393745
>cherry picking bullshit scenarios
have fun losing value continuously forever

>> No.30393984

If you have a divsersed portfolio of different asset classes you will be fine.

I only keep 5k in cash because that's the most I'm allowed to have and still receive welfare if I lost my job in my country. But you are allowed to have 2-500k assets depending if your a homeowner or not.

My essential expenses are 800 a fortnight and welfare would net me 600 so my burn rate would last me ages assuming I make no income.

>> No.30393988

>>30393872
He did say lose job.

>> No.30394052

>>30393005
Yeah my boss keeps thinking it's sage advice in the lunchroom to give us. It's pretty fucking annoying as he refuses to hear any 'gripe' about our wages. Quitting soon though so he can get fucked.

>> No.30394054

>>30393872
In the US if you lose your job, you lose almost all of your insurances. (life, health, even, control over your 401k)

>> No.30394114

>>30393005
>t. I cant afford an emergency fund.

>> No.30394148

>>30393005
6 months? more like 6 years and its in eth

>> No.30394158

>>30393401
Tell her if she sucked a million dicks for five dollars each...

>> No.30394160

>>30393872
If you are paying for health insurance your pretty much just lighting money on fire.
>>30393745
This post could have just as easily been >get hit by truck and die

If you are worried about hedging the worst 10% of futures you give yourself 0% of achieving your best 50%

>> No.30394208

>>30393005
Yes. If you fail to realize why an emergency fund is necessary, you're not thinking right. The reason for this is exactly so that you aren't forced in a position to sell your assets because of a dire need. And what are you going to do? Just rebuy them later on potentially at a loss? Better have the emergency fund.

>> No.30394316

>>30394208
>so that you aren't forced in a position to sell your assets because of a dire need
Sure, this is a valid possibility but mathematically it's much less of a statistical loss than the act of simply holding cash long-term and missing out on 12% growth. Not to mention as you said, some of the time the asset keeps rising and you can never buy in again, but some of the time your dire need makes you happen to sell at a relatively high point and you can buy in lower.

>> No.30394395

>>30394208
>keep 10k in cash instead of crypto
>bullrun hits for two years
>you just missed out on 200k

>> No.30394710
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30394710

>Not having 5oz gold on hand

>> No.30394783

>>30394054
Lol

>> No.30394871
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30394871

>>30393401
imagine being a parents and asking your kids for money

>> No.30394873

>100% in crypto
>0% in bank
>Credit card anything I buy or emergencies and pay off in full next month
Come at me

>> No.30394889

>>3039374
Fuck, Imagine living in the US and killing your fellow man by denying Universal Healthcare because of MUH FREEDUMB.

>> No.30394916

>>30393745
Fuck, Imagine living in the US and killing your fellow man by denying Universal Healthcare because of MUH FREEDUMB.

>> No.30394938

I have 2 years safety fund in cash

>> No.30394989

>>30393005
>tf 30 year emergency funds in BTC
gmi

>> No.30395010

>>30394208
This is only true if you're poor.
If your portfolio is large enough, you'll be fine except for really extreme cases.
The gains you make putting your 6 months expenses into the market would likely make you more than what you lose having to sell during an emergency.

>> No.30395085

>>30393005
I have $10k I keep as a minimum, everything else gets invested. But now these anons say to invest that $10k, what do? Half my investments are crypto half are stocks. Absolute worst case scenario is crypto exchanges get blocked in Canada which would mean I would need to cash out into USD or gold or something

I have about $25k in credit available I never use too. I like knowing if I can't access my investments I'm not fucked or forced into usury

>> No.30395169

>$500 in bank
>$40k in crypto

yeah, feels good man.

>> No.30395213

>/biz/
>6 months of rent

>> No.30395310

>>30394871
>thinking that a woman could feel shame ever

>> No.30395332

Check Mochimo guys.

Microcap that is growing a lot right now.

>> No.30395340

>>30395010
I guess depending on how much you make you could cut it down drastically. If you make minimum wage, 6 months sounds good. If you make a ton more, then cut down the number. Also no shit, it wouldn't be much of a problem if you're rich. Why the hell would I say it with the assumption that rich people are meant to read and follow it?