>build an emergency fund of 3-6 months expensestell me.is it a meme?do you practice this?all the normies i know instantly blow any extra money they get.putting that much money aside for essentially nothing just seems like a demoralizing first step meant to turn goyim away from market exposure, or from trying to build wealth at all
you need at least two years
>>59668959I just always keep 10k in the bank for no reason really. I just like the number and I've been doing it for years. Anything above 10k I either invest or spend. Any emergencies or extra spending I do I always try to get back to 10k first.
10k if you rent20k if you own (imagine your AC taking a shit or a tree falling on your roof)
>>59668993>20k if you ownThis is roughly how I roll.~$15k-20k in high yield savings~$3k (i.e. a single paycheck) in checking for quick payments of bills and shit; any extra at the end of the month either goes into BTC or my high yield savings
>>59668959I didn't plan this but now I have1/3 in savings1/3 in crypto1/3 in pmnw getting close to $100kalways have at least $1k cash on hand. no debt. no cc. no mortgage. no loans.
>>59668959yes but i keep 1 year of bills and expenses. you do this with the understanding that any pay increases these days come from hopping between jobs.do it right and you won't think of it as an expense but an investment.
>>59668959If you can't save 6 months worth of emergency funds, you aren't investing either (gambling is not investing).
>>59668959its a midwit memei can liquidate crypto to fiat in my bank account in max 3 days
>>59669535oh and for the record i currently have>about $350 dollars in my bank account>about $25,000 in ETCs (precious metals)>about $230,000 in cryptoyou could have a little more, in fact id like to have a little more, but there is no point in having over 2 months of expenses in your bank account
>>59669535>i can liquidate crypto to fiat in my bank account in max 3 daysThis is fine near the end of a bear market/start of a bull market, but not so great near the peak bull/early bear.
>>59669563surely you mean it the other way around
>>59669556precious metal oh lordy
>>59669578its a hedge
>>59669575No. I probably shouldn't have said peak bear, because that's when you ideally sell.
>>59668959>$80,000 cash>$2500 investedI did it the wrong way and have near zero risk tolerance. Putting even $1000 into something makes me want to puke.
>>59669636this is equivalent to shorting in the modern monetary environment
>>59668959You don’t want to be forced to liquidate investments because of some personal expense, so it makes sense.
>>59669654No idea what that even means. I'm new to all this investing financial jargon.
anytime I get over $5000 in savings, the simulation spawns a random event that forces me to spend it all
>>59668959your capital is your emergency funds in addition to being your source of passive income, letting funds sit idle is retarded.
>>59668959Pretty much, had almost a years reserve for a while until Biden came along. Now down to a few months I said fuck it and put it all in crypto and I'm doing everything thing I can not to cash out early
>>59668959meme coin i only trust $Trump on auradex, Trump to the moon
>>59668959Complete meme. There's zero fucking reason to do so in the modern world. You can borrow any amount you need in 5 minutes and the APR will be less than the cost of inflation against your schizoid boomer pile sitting there for years. If i hear someone say they have a year's worth of savings I get a hard on because I hear some female bitch getting fucked hard.
>>59668959Your "emergency fund" should just be part of your regular investment portfolio or whatever. If you have to sell when it's low, that sucks but you should be fine. It takes like 2 days max to transfer money so you'll be fine unless you're actually retarded.
>>59669636You lose money by holding cash. Even in savings it probably doesn't keep up with inflation. That's why people don't do this unless they think assets (s&p500, btc) are going to go down and they're keeping cash ready to buy.
life is fucking sweet when you know you can completely stop everything and do whatever you want for a long time with no income and not be financially ruined
>>59668959i like to have enough extra cash in my bank account to pay my biggest bill twice. so in theory i keep 1,500 extra when its time for my mortgage payment and about 500-1000 extra for the rest of the monthbut as long as you have some "liquid" moneythings should be able to cash out within 48 hours, you're good.
>>59669535It's not always a good time to sell though, that's why you need a percentage held in cash so you don't have to realise losses.
>>59669672your money is guaranteed to lose value and the amount you'll ever gain from investments will never make up for the losses. but I understand that you don't like it. risk is a bitch
>>59671044>risk is a bitchkeep in mind though that SPX and other good investments have always recovered from every downturn, ever. even if you suffer today you'll be better of tomorrow
>>59668959Liquid yeah I have a couple months just so I shouldn't have to sell anything I don't want to, probably a "waste" but it's <2% of my NW so whatever.
>>59668959Maybe you can do some staking earn some passive with galaxis not bad right
