Was grabbing at 32.50 before. Sitting at 36.75 now. Now with all the crap going on with the stupid ass government I'm afraid everything going to tank to unexpected levels which means the buy zone could be moved to 25-28. [Reply]
I sold all my AMC in green and got out of the market. Things are looking suspect with all the talk of crashes. Time to wait for it to get super bloody then enter. [Reply]
I think you guys actually convinced me to do something a bit "daring" for me with the emergency savings vs investing talk.
We keep 6 months of "bills" in emergency savings (doing nothing). We had LOTS of home maintenance repairs this year ($35k to be exact!) so we have worked on building back up to 6 months while contributing barely anything to my wife's ROTH IRA. But I realize I also cannot go back and contribute to this ROTH years later. If I don't max it this year, I can't make that up in the future. I think I'm willing to drop our emergency savings fund to roughly 4-5 months of expenses to max my wife's ROTH IRA.
1. I have a job where I would literally not be out of work if I got laid off. I could land a job the same day.
2. We are at a point in our lives where we are making the LEAST amount of money we will ever make. My wife works 10-15 hours a week at a minimum wage job while our 3.5 year old is in preschool. Once he's in school full-time, she will be getting a full-time job and our income stream will be much better, and we aren't that far away from this happening.
3. A ROTH can technically be used in an emergency as contributions can be withdrawn tax/penalty free at any time.
Originally Posted by lewdog:
I think you guys actually convinced me to do something a bit "daring" for me with the emergency savings vs investing talk.
We keep 6 months of "bills" in emergency savings (doing nothing). We had LOTS of home maintenance repairs this year ($35k to be exact!) so we have worked on building back up to 6 months while contributing barely anything to my wife's ROTH IRA. But I realize I also cannot go back and contribute to this ROTH years later. If I don't max it this year, I can't make that up in the future. I think I'm willing to drop our emergency savings fund to roughly 4-5 months of expenses to max my wife's ROTH IRA.
1. I have a job where I would literally not be out of work if I got laid off. I could land a job the same day.
2. We are at a point in our lives where we are making the LEAST amount of money we will ever make. My wife works 10-15 hours a week at a minimum wage job while our 3.5 year old is in preschool. Once he's in school full-time, she will be getting a full-time job and our income stream will be much better, and we aren't that far away from this happening.
3. A ROTH can technically be used in an emergency as contributions can be withdrawn tax/penalty free at any time.
Thank you CP for showing me the light.
I never got to have a Roth until 2020 when my income was down enough to qualify, but those things are magical. I think my policy would be to fund a Roth before anything else other than food and shelter. [Reply]
