Should you have a 3-month or a 6-month emergency fund? Is that too much? Today we'll give you the REAL numbers!
0:00 – 1:29 Emergency fund overview
1:30 – 1:45 Emergency savings data
1:46 – 2:00 Florida boys complain
2:01 – 4:26 Emergency fund probabilities
4:27 – 5:24 Emergency fund averages by age
5:25 – 6:51 Emergency fund hacks
6:52 – 8:45 The numbers you should know!
8:46 – 9:12 Attempt at humor
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I’m not the norm I have 5 years plus in emergency
I’m the same way lol
I have 7 years plus, in a brokerage, another year in cash.
So someone with a lot of cash are you just putting it all in stocks then? In a taxable account? With these valuations today? My Roth is maxed.
What if the market crashes 50%? Wouldn’t you rather have it in cash?
Yes, Cody, 68 is cold inside! But the interruption with the graphic was great.
Now google tree elephant, hit images and be shocked
Thanks for sharing👊🏾😎👍🏼
How many 20 or 30 or 40 somethings are buying short-term disability insurance? You can stop paying that If you have a 6 month emergency fund getting 5% with your cash.
All you need is LTD long-term disability insurance, which kicks in after 6 months.
Thanks Dustin and Eric love the format an all the information that flows
Whats the opening music?
Eric, We keep it at 68°. Aunt IRMAA says to put on a hat.😂
Someday someone will figure out how to do a proper Monte Carlo on emergency fund sizing. The problem is that emergency fund sizing is all about conventional wisdom and has no actual math behind it. The ideal is probably zero.
Hey Eric… there’s a follow-up to your joke. “Why do elephants hide in trees? ….. Why?… Because they’re good at it. Have you ever seen an elephant in a tree? … No. … See it works.”