Quote:
Originally Posted by Buehler445
I took this to be his emergency fund or whatever.
Up until interest rates moved for the first time in 2 decades I had it in a local bank money market too.
If his intention is to invest it, he should. If his intention is to find a better yielding money market, he can do that without a financial advisor.
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Eh, I don't take offense to what he said, though I do not think I need a financial advisor. Someone from my bank has reached out a few times over the years about investing and I ignored them. My issue is and always has been that I'm a safe little bitch about my money. I've kept it in a money market all this time exactly because I do not like risk.
But over time, things and people change and I'm finally ready to put a good chunk of this change in the market or a HYSA at the very least to cut the effects of inflation.
I think my emergency fund really only needs to be, idk, maybe $30,000 at most. 6 months of bills/expenses might be $10,000-$20,000. I'm driving a 20-year old car so she could take a shit on me at any moment. Other than that, the rest of the cash should be put to better use. It's just a matter of what type of account/investment, where and how much.