Do You ALWAYS Need an Emergency Fund?

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Information Do You ALWAYS Need an Emergency Fund?

Title	:	Do You ALWAYS Need an Emergency Fund?
Lasting	:	6.46
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Views	:	9,3 rb

Damn I am glad in Europe don’t have to worry about losing our job as an emergency or anything health related to have an emergency fund , even for house related stuff as a renter you have many protections here more than a landlord The only occasion i have an emergency fund for is if I have to fly back to my home country in case some bad happens to a relative or something
Comment from : Dunklekarte

The last 5 years we’ve had to put a new roof on our house, and new Heat/A/c unit, a new deck, and new windows and without an emergency fund we would be in debt up to our eyeballs and would be living like all the other broke people out there
Comment from : JcPipesNknives

I retired last week and my plan is to move to Europe in October My setup is to send myself $5k to live off of every month and of course there is a conversion from $ to € so because of that, I worry about moving money when the rates suck I moved about $140k to my EU bank account while the conversion rate is good and will use that money when the rates aren’t favorable but when it is good, I’ll move my money monthly like normal
Comment from : Rick Chandler

You shouldn't close your video by saying you used your emergency fund to purchase a building if you want people to take you seriously
Comment from : Chris B

Between cash as oxygen and investments as a boiling point, his water-related analogies are really good
Comment from : Michael Pantano

The fundamentals remain the same regardless on what stage you are in your financial journey
Comment from : Luvy Arora

👀
Comment from : Dontee Weaver

Also when you're older your risk of health issues (and therefore health related costs) are greater You could wind up with a large medical bill due to some medical emergency
Comment from : Paul Crompton

Preach it, “Baby Buffett”! 😂
Comment from : Nickolas Miller

I have enough $$& to carry myself over 5 years or more, that’s not including my assets!!
Comment from : Darryl Tognarelli

Our goal is to have 3 years expenses in our emergency fund when we retire We are quite close to having one of the those years now brbrI know others report the same thing but since we established our emergency fund we haven't had to use it That doesn't mean we haven't had any emergencies but rather we haven't had to pay for those emergencies out of the fund
Comment from : Thomas Chew

8-12 months Lock it behind the glass
Comment from : Ryan L

I have to much money saved up said no one ever
Comment from : Freedom Works

Also consider health issues and expenses
Comment from : Harsha Rao

Need an emergency fund just in case you have an Emergency Brokerage funds take time to access br6 months minimum We are setting up a 12 month emergency fund
Comment from : GetInTheSpace

Bo's face is going to be sore from giggling at Brian's answers Funniest clip so far
Comment from : Michael Dew

The old saying will always be true: Cash is king
Comment from : Joel Kaben

Of all Mr Preston's jokes and analogies some make me laugh ("nekkid") some that make me cringe/also laugh ("wakwakwakwak" transformer), but the cash reserves to oxygen analogy has such simple elegance that puts this topic into a concisely profound way of a great analogy
Comment from : Chris Hayes

I have like 5 years cash , nearing retirement
Comment from : Kevin Kuc

I think it depends on your situation, but in most cases people do need one Admittedly, we don't currently have an EF and don't currently need one We have secure employment that pays us well and I have an inflated protected pension/VA disability so there is zero chance we don't have "income" coming in My wife is a 10+ year Federal Employee and if you know anything about Federal Government, it takes an act of God for her to lose her job :)
Comment from : Rob U_73

You don't need an emergency fund until you do
Comment from : Nicol Bolas

I’m retired If I have 2 to 3 years expenses in a savings account I don’t have a so called emergency fund My expenses includes my emergency fund
Comment from : fasteddy333

Agreed 👍🏽
Comment from : Ivy Sapphire

"Not having an emergency fund is an emergency"br-Probably every financial advisor
Comment from : DividedShark

If you have a larger brokerage account and you are in the accumulation phase, I think 3 months is fine BUT in this scenario definitely have a good emergency fund or at least 12 months
Comment from : SimpliJake Finance