08/07 - Mental Health Wednesday

$50k isn't an unreasonable amount to have in a savings account if you have >$500k in other things such as stocks etc.

 

No one else will do it, so I'm gonna go ahead and post it. Shut the fuck up, RA.

 

I'd like to tell you about this great opportunity if I can just have a moment of your time...

 

Depends on how you define savings account.

Is a Roth Ira a savings account? 401K? 529 plan? Add all of mine up plus my cash accounts and I look pretty sweet. (well, until today's stock market crash, not so sweet now...)

 

If you only use Amazon to mturk and buy stuff, which one are we?

 

I was under the impression that savings is just anything that is reasonably liquid.

 

I prefer to keep my in a gaseous or maybe even plasma like state.

 

I would consider 401k to be liquid. You can cash out half it's value in a loan within a few days. If those are included it's very easy to build up.

 

yeah it's so easy to just have 50k in a savings account, just stop being poor lol

 

Ish.

I have some CDs that aren't that liquid unless I want a penalty. I still call that savings.

Also a money market with withdrawal limits for a better interest rate.

And I can get to that Roth any time I want for legit expenses.

I think the definition is changing. I can access any of my money any time I want if I don't mind a penalty. And if shit hits the fan, I'll pay the penalty.

But I also have straight cash savings because I do own a house and a rental and it's dumb not to.

 

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If you have 2 years worth of savings but the 2nd years worth is tied up in a CD that will be cashed out before you run out the first year's funds I would consider the close enough to liquid.

 

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Oh thank goodness. It worked! Safe for another day.

 

do not ask @Polar Bear . actually it happens when you lived your life till the age of 32 with less than $24K per year and then accepted a job which pays more than $120K.
you do not know how to invest, you do not know how to buy a house, you do not know anything about money since you did not have just even one year ago. He is eating tuna salad at dinner at home instead of going to a fancy restaurant trying a delicious fish. 32 years old is too late to change your habits. You have money but you do not know what to do with it. It stays at your saving account.