How Much Money Saved Up Will Make You Feel Secure?

Discussion in 'Savings & Investments Plans' started by Jamille, Aug 10, 2017.

  1. Jamille

    JamilleActive Member

    Joined:
    Oct 6, 2016
    Messages:
    479
    Likes Received:
    61
    I often come across finance articles that advise people to save up to six months' worth of their monthly expenditures in an emergency fund. The idea is to have funds Handy when a person goes through some financial difficulties such as loss or diminution of income due to unemployment, business losses, or even health issues. The rest of the savings, they say, should go to investment. However, having gone through a period of unemployment for a year, I know that six months' worth of emergency fund is not enough at all. I'd prefer to have at least $100,000 in savings/emergency fund before I can even think about investing in stocks/mutual funds or other forms of investment.

    What do you think?
     
  2. jakubMember

    Joined:
    Aug 2, 2017
    Messages:
    45
    Likes Received:
    5
    I would feel financially secure and future proof if i were to save up as much as a 10 year's salary worth.
     
    Jamille likes this.