Emergency Savings Fund

[Matt]

We can afford to sit out a market decline

How? Do you have money saved at a different level of risk?

 

[Shak Y]

I'm surprised you could successfully add Mango as an external account on the 360 website.I don't have a Mango card but whenever I tried to add any accounts it didn't work like in the last 2 years... They always had some kind of excuse.

I was able to add both mango accounts to cap1 360, and to transfer twice to both.

Also I confirm that they count for the 6% rate, for the direct deposit intro bonus in month 1 I used part of my actual paycheck though, but it stands to reason cap1 360 should work for that too.

 

[Julian Brennan]

How? Do you have money saved at a different level of risk?

I've no idea what that's supposed to mean. If you know anything about investing then you know that historically time is the only thing which allows you to sit out a market correction. If you need to liquidate invested funds during a downturn you're screwed.

 

[Matt]

I've no idea what that's supposed to mean. If you know anything about investing then you know that historically time is the only thing which allows you to sit out a market correction. If you need to liquidate invested funds during a downturn you're screwed.

Actually its money, not time. Enough money saved at a different level of risk (that does not require liquidating) to wait it out.

I'm asking you because your response to an enquiry about placing an Emergency Fund in Savings account earning 2% was to go 100% into stocks... that's a bit of a leap...

Unless you also happen to have an amount of money elsewhere, that is actually your EF and this allocation is something completely different...

Seems that one of us missed something somewhere here