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08-29-2016, 10:03 PM | #376 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $714734
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I don't. I have a pile of cash parked in the bank because I'm a bad manager at the moment. I really need to get my books done and do all my inter-entity reimbusements done and tighten things up.
But again, bad manager at the moment. |
Posts: 57,742
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08-30-2016, 01:35 AM | #377 |
Woman should only make babies
Join Date: Nov 2003
Location: Apartment "G UNIT!"
Casino cash: $1726136
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must be nice to be rich
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Posts: 54,586
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08-30-2016, 02:17 AM | #378 |
Constable of Untruths
Join Date: Oct 2010
Location: Wichita
Casino cash: $241084
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Mo money, Mo problems.
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Posts: 15,254
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08-30-2016, 07:37 AM | #379 |
MVP
Join Date: Mar 2004
Location: Helena, MT
Casino cash: $2558849
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You know I live to troll.
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Posts: 18,614
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08-30-2016, 09:00 AM | #380 |
MVP
Join Date: Aug 2000
Location: Lee's Summit
Casino cash: $4741637
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Well... I've come to the realization that other than a layoff, having to take an emergency trip or pay for a funeral (Which I just paid for my fathers), I just don't need much more than $2000 in savings.
I keep $2-3K in savings/emergency account, then max out ROTH IRA contributions as it's a secondary savings and then the rest goes to an out of pocket/regular investment account. The 6+ months emergency fund is in the Roth IRA since withdrawals aren't taxed or penalized (which I've never had to draw on). Is any of this a bad idea? |
Posts: 8,290
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08-30-2016, 09:04 AM | #381 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $714734
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Quote:
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Posts: 57,742
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08-30-2016, 02:08 PM | #382 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $331900
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Quote:
Although I definitely like to keep more on hand for emergencies than $2k. Car repair, pool repair, AC repair, home maintenance projects, buying furniture, those can easily run close to or over $2k at a given time. I'd treat the Roth emergency more like a $5-10k+ type of emergency myself but plenty of people do just what you're saying and really have a low amount of money in savings accounts.
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Posts: 46,088
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08-30-2016, 02:11 PM | #383 |
"You like to drink?"
Join Date: Jun 2006
Location: "I like to drink."
Casino cash: $1656869
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Money Market or continually roll over some short term CDs..?
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08-30-2016, 02:14 PM | #384 |
Banned
Join Date: Jan 2013
Casino cash: $9998560
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Posts: 53,803
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08-30-2016, 03:14 PM | #385 |
MVP
Join Date: Aug 2000
Location: Lee's Summit
Casino cash: $4741637
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I have Roth contributions I can tap into that gets put into my account overnight if I need it. Roof has a lifetime warranty HVAC will cost me $1800 to get replaced. Furnace is 5 years new. Engine/Transmission, I'd tap reserves.
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Posts: 8,290
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08-30-2016, 03:21 PM | #386 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $331900
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Have you ever actually tapped your Roth? I worry it's not as seamless as it seems. Then again, even if it takes 2 weeks, you could always charge it and pay it off in full once the money arrives I suppose.
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08-30-2016, 03:24 PM | #387 |
"You like to drink?"
Join Date: Jun 2006
Location: "I like to drink."
Casino cash: $1656869
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Obviously the opposite of investing and being money savvy, which credit cards are y'all using? Any good perks / rewards out there beyond the ones the churner cokeheads are angling for?
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08-30-2016, 03:26 PM | #388 | |
In BB I trust
Join Date: May 2003
Location: Boston, Mass.
Casino cash: $10029808
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Quote:
I like simple. I'm sure there are cards that you can "work" to get better rewards out of them, but I don't have time/patience for that. Therefore, Fidelity Visa. No annual fee and 2% cash back on everything I buy, which gets automatically deposited into whatever Fidelity account(s) I choose, which can include a kid's UFund (529 Plan) account. EDIT: And, btw, I don't think using a credit card isn't money savvy. I think it is, SO LONG AS YOU PAY THE BALANCE IN FULL EVERY MONTH WITHOUT FAIL. Which you absolutely must do. If so, then they basically pay YOU interest for them giving you a loan. Yes please...
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Posts: 43,125
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08-30-2016, 03:31 PM | #389 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $331900
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Quote:
Charging everything is a no brainer if you have the discipline to stick to a budget and know your finances. If you can't pay it in full every month, don't do this. /soap box
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Posts: 46,088
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08-30-2016, 03:46 PM | #390 | |
Veteran
Join Date: May 2010
Casino cash: $5055985
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Quote:
Chase Slate has 0 transfer fees and I believe 18 month apr. It is really good card to transfer a high interest credit card too. Amazon rewards card gives you 3% cash back on all purchases from Amazon. So if you are a prime member or order a lot of stuff off of Amazon it definitely comes in handy. No Annual Fees Chase Freedom does 5% cash back on revolving 3 months categories. It can be pretty nice if when they do an Amazon, Grocery Store, or Gas. Plus they give you I believe 100 or 200 dollars back if you spend a thousand the first month. No Annual Fees |
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