Those graphs make it look scary but clearly the stock market had trended upwards. If you’re using your emergent fund within a year or two of putting the money in, I would argue it’s not an emergency.
Bail is a weird thing to be planning for and I don’t think you have the timeline right on how quickly bail is set.
But my main point was to simply put money aside at even the smallest amount rather than make excuses.
Putting it in an investment account rather than a savings account sitting right next to your checking account is too easily to access. The withdrawal delay can be a feature.
The balance of the emergency fundis not something one should be seeing or thinking about as often as one sees and thinks about their bill payment account.
Even if one is only comfortable using a saving account, I would still suggest using a separate financial entity.
Those graphs make it look scary but clearly the stock market had trended upwards.
I don’t disagree, but if you’re needing money in a emergency, you don’t have the luxury of waiting weeks/months/years for it to trend upwards.
If you’re using your emergent fund within a year or two of putting the money in, I would argue it’s not an emergency.
I don’t understand that logic at all. The very definition of an emergency is that it is unplanned for, and you can never know when it happens.
Bail is a weird thing to be planning for and I don’t think you have the timeline right on how quickly bail is set.
I’m not planning on bail being needed. I’m using that specifically as an example specially because no one plans for it, which is the point of an emergency fund.
But my main point was to simply put money aside at even the smallest amount rather than make excuses.
You and I are in complete agreement on this point.
Putting it in an investment account rather than a savings account sitting right next to your checking account is too easily to access. The withdrawal delay can be a feature. The balance of the emergency fundis not something one should be seeing or thinking about as often as one sees and thinks about their bill payment account.
YMMV, I don’t necessarily think this is true for everyone, but I concede it likely is for a portion of the population. I admit this can be a valid point.
Even if one is only comfortable using a saving account, I would still suggest using a separate financial entity.
I agree with this too. One other emergency that can happen is your banking credentials being breached/identity theft, and it will take some time to sort out. If you at least have a second bank where your E-fund sits, you can live on that while your primary gets sorted out.
Those graphs make it look scary but clearly the stock market had trended upwards. If you’re using your emergent fund within a year or two of putting the money in, I would argue it’s not an emergency.
Bail is a weird thing to be planning for and I don’t think you have the timeline right on how quickly bail is set.
But my main point was to simply put money aside at even the smallest amount rather than make excuses.
Putting it in an investment account rather than a savings account sitting right next to your checking account is too easily to access. The withdrawal delay can be a feature.
The balance of the emergency fundis not something one should be seeing or thinking about as often as one sees and thinks about their bill payment account.
Even if one is only comfortable using a saving account, I would still suggest using a separate financial entity.
I don’t disagree, but if you’re needing money in a emergency, you don’t have the luxury of waiting weeks/months/years for it to trend upwards.
I don’t understand that logic at all. The very definition of an emergency is that it is unplanned for, and you can never know when it happens.
I’m not planning on bail being needed. I’m using that specifically as an example specially because no one plans for it, which is the point of an emergency fund.
You and I are in complete agreement on this point.
YMMV, I don’t necessarily think this is true for everyone, but I concede it likely is for a portion of the population. I admit this can be a valid point.
I agree with this too. One other emergency that can happen is your banking credentials being breached/identity theft, and it will take some time to sort out. If you at least have a second bank where your E-fund sits, you can live on that while your primary gets sorted out.
Everybody needs to be ready to get bailed out if they can. Shit’s gonna get weird here.