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Emergency Fund | Where Should I Put the Dough?

#1 User is offline   eugenam1 

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Posted 19 June 2011 - 09:35 AM

I have $40K in a mutual fund of which $20K serves as my emergency fund. My hunch is that I should move the emergency fund dollars to a more stable location. What's best? Money market? Savings? Thanks for the advice!
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#2 User is offline   late 20's 

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Posted 19 June 2011 - 01:45 PM

Emergency fund is money that is liquid. Some place where you can get the money fast and quick when needed. You can start two different fund. Have your investment money in any EFT, diversified. Keep in mind your age and the time you have to invest the money. The second fund should be your emergency fund that needs to be in a stable place. To determine how much should you have in your emergency fund you need to sit and determine how much money you will need to pay the expenses. Good luck!!
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#3 User is offline   AlexisChu 

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Posted 15 August 2011 - 05:38 AM

I do agree with late 20's. Saving money is very important especially when there comes the time that we need enough money to respond to our emergency expense. However, I just want to share with you a recent survey discovered that most Americans could not manage to satisfy a sudden expense of $1,000 if it were to come up. There are not many people who can put away enough to manage even that much in emergency expenditures. Check this out: More than half of Americans lack savings for emergency expenses. I hope you are not one of them.
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