Current Events > Financial analysts say you should have AT LEAST $100,000 in an emergency fund

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REMercsChamp
01/14/18 7:45:26 PM
#1:


Financial analysts are saying you should have AT LEAST $100,000 in emergency "rainy day" funds at all times to offset unexpected setbacks.
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Perascamin
01/14/18 7:45:50 PM
#2:


Lmao
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fan357
01/14/18 7:46:05 PM
#3:


Just call JG Wentworth
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thronedfire2
01/14/18 7:47:07 PM
#4:


Perascamin posted...
Lmao

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Darklit_Minuet
01/14/18 7:48:21 PM
#5:


Lmao most of us will never earn that much in our lifetimes
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Jeff AKA Snoopy
01/14/18 7:48:59 PM
#6:


Darklit_Minuet posted...
Lmao most of us will never earn that much in our lifetimes


We definitely will earn more than that in our lifetime. Will we ever have that much in our savings at one time? Hell no.
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Fam_Fam
01/14/18 7:48:59 PM
#7:


Darklit_Minuet posted...
Lmao most of us will never earn that much in our lifetimes


umm what
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Perascamin
01/14/18 7:49:02 PM
#8:


"You should get a shitty $60,000/Year job in the North East that barely covers living expenses and save $3000/Year for 35 years until you even think of spending money on anything other than bills and food.
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NES4EVER
01/14/18 7:49:29 PM
#9:


Darklit_Minuet posted...
Lmao most of us will never earn that much in our lifetimes


Do you live in rural Cambodia or something?
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#10
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Fishy
01/14/18 7:50:51 PM
#11:


NES4EVER posted...
Do you live in rural Cambodia or something?

Probably some shithole country.
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Darklit_Minuet
01/14/18 7:51:06 PM
#12:


ITT: Rich people
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iPhone_7
01/14/18 7:52:31 PM
#13:


Perascamin posted...
"You should get a shitty $60,000/Year job in the North East that barely covers living expenses and save $3000/Year for 35 years until you even think of spending money on anything other than bills and food.

No credit cards or loans, just bootstraps.
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#14
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Darklit_Minuet
01/14/18 7:55:42 PM
#15:


Bullet_Wing posted...
Darklit_Minuet posted...
ITT: Rich people

A minimum wage job for 10 years is more than 100k, lol

Lol I wish I could find a minimum wage job and hold onto it that long
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REMercsChamp
01/14/18 7:58:12 PM
#16:


Darklit_Minuet posted...
Bullet_Wing posted...
Darklit_Minuet posted...
ITT: Rich people

A minimum wage job for 10 years is more than 100k, lol

Lol I wish I could find a minimum wage job and hold onto it that long

I mean, don't hold yourself to too high of a standard
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uwnim
01/14/18 7:59:54 PM
#17:


Pretty sure they don't say that. Typically, advice is X months of expenses saved up. Something flat like that doesn't scale and could cover several years of not having a job or just a couple of weeks.
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not_shawn_z
01/14/18 8:00:48 PM
#18:


I bet these are the same nutty analysts who said Trump would ruin the economy
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REMercsChamp
01/14/18 8:03:45 PM
#19:


uwnim posted...
Pretty sure they don't say that. Typically, advice is X months of expenses saved up. Something flat like that doesn't scale and could cover several years of not having a job or just a couple of weeks.

That's the old financial paradigm. The new school of thought is exact figures.
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NES4EVER
01/14/18 8:15:45 PM
#20:


REMercsChamp posted...
uwnim posted...
Pretty sure they don't say that. Typically, advice is X months of expenses saved up. Something flat like that doesn't scale and could cover several years of not having a job or just a couple of weeks.

That's the old financial paradigm. The new school of thought is exact figures.


Riiiight.
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Skye Reynolds
01/14/18 8:17:06 PM
#21:


thronedfire2 posted...
Perascamin posted...
Lmao
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#22
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not_shawn_z
01/14/18 8:19:36 PM
#23:


Conflict posted...
Darklit_Minuet posted...
Lmao most of us will never earn that much in our lifetimes


How do you work a salaried job and not earn 100 grand in a lifetime? It's not exactly a googol


That says a lot about himself. Lol
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AmonAmarth
01/14/18 8:20:10 PM
#24:


almost there.
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REMercsChamp
01/14/18 8:23:33 PM
#25:


AmonAmarth posted...
almost there.

Good - at least someone on here has a work ethic
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Darklit_Minuet
01/14/18 8:24:45 PM
#26:


Conflict posted...
Darklit_Minuet posted...
Lmao most of us will never earn that much in our lifetimes


How do you work a salaried job and not earn 100 grand in a lifetime? It's not exactly a googol

That requires getting a salary'd job, none of us are gonna be able to manage that lol
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not_shawn_z
01/14/18 8:25:51 PM
#27:


Darklit_Minuet posted...
Conflict posted...
Darklit_Minuet posted...
Lmao most of us will never earn that much in our lifetimes


How do you work a salaried job and not earn 100 grand in a lifetime? It's not exactly a googol

That requires getting a salary'd job, none of us are gonna be able to manage that lol


No wonder you support socialism
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#28
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REMercsChamp
01/14/18 8:29:56 PM
#29:


Darklit_Minuet posted...
Conflict posted...
Darklit_Minuet posted...
Lmao most of us will never earn that much in our lifetimes


How do you work a salaried job and not earn 100 grand in a lifetime? It's not exactly a googol

That requires getting a salary'd job, none of us are gonna be able to manage that lol

Financial analysts HATE him
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gunplagirl
01/14/18 8:31:26 PM
#30:


American Capitalism, where the cost of living rises while wages don't and you somehow are expected to save years of wages in case anything goes wrong.

Oh, and also the only nation in the developed world where people declare bankruptcy due to medical bills. Also the south has poverty at third world levels.
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FluttershyPony
01/14/18 8:32:58 PM
#31:


thats mostly because slipping off a banana peel will cost you 15k for the ambulance, 20k for the nights stay in the hospital and 30k for having doc ock put a bandaid on our head and some painkillers and 15 minutes of stitching
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not_shawn_z
01/14/18 8:33:33 PM
#32:


gunplagirl posted...
American Capitalism, where the cost of living rises while wages don't and you somehow are expected to save years of wages in case anything goes wrong.

Oh, and also the only nation in the developed world where people declare bankruptcy due to medical bills. Also the south has poverty at third world levels.


And yet we're still the best :)
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tennisdude818
01/14/18 8:35:47 PM
#33:


Your rainy day fund should cover 3-6 months of expenses. This is something anybody can do if they save something every month.
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LJRENEGADE
01/14/18 8:46:36 PM
#34:


Darklit_Minuet posted...
Conflict posted...
Darklit_Minuet posted...
Lmao most of us will never earn that much in our lifetimes


How do you work a salaried job and not earn 100 grand in a lifetime? It's not exactly a googol

That requires getting a salary'd job, none of us are gonna be able to manage that lol

You can't get a minimum wage, low skilled labor job for at least 10 years of your life?
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EverDownward
01/14/18 8:47:33 PM
#35:


Yeah, okay
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Darklit_Minuet
01/14/18 8:47:35 PM
#36:


LJRENEGADE posted...
Darklit_Minuet posted...
Conflict posted...
Darklit_Minuet posted...
Lmao most of us will never earn that much in our lifetimes


How do you work a salaried job and not earn 100 grand in a lifetime? It's not exactly a googol

That requires getting a salary'd job, none of us are gonna be able to manage that lol

You can't get a minimum wage, low skilled labor job for at least 10 years of your life?

Believe me, I've been trying. Applied at literally every store in town
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Zeus
01/14/18 8:48:28 PM
#37:


Fam_Fam posted...
Darklit_Minuet posted...
Lmao most of us will never earn that much in our lifetimes


umm what


He constantly trolls so it's usually better to just skim over his posts.
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Darklit_Minuet
01/14/18 8:48:57 PM
#38:


Zeus posted...
Fam_Fam posted...
Darklit_Minuet posted...
Lmao most of us will never earn that much in our lifetimes


umm what


He constantly trolls so it's usually better to just skim over his posts.

I never troll
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NES4EVER
01/14/18 9:07:11 PM
#39:


Darklit_Minuet posted...
LJRENEGADE posted...
Darklit_Minuet posted...
Conflict posted...
Darklit_Minuet posted...
Lmao most of us will never earn that much in our lifetimes


How do you work a salaried job and not earn 100 grand in a lifetime? It's not exactly a googol

That requires getting a salary'd job, none of us are gonna be able to manage that lol

You can't get a minimum wage, low skilled labor job for at least 10 years of your life?

Believe me, I've been trying. Applied at literally every store in town


So then what do you think makes you so unemployable?
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Darklit_Minuet
01/14/18 9:08:25 PM
#40:


NES4EVER posted...
So then what do you think makes you so unemployable?

Nothing about me in particular. Economy just sucks
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Muffinz0rz
01/14/18 9:09:46 PM
#41:


Of course financial analysts say that, financial analysts make a lot of money
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FFVII_REMAKE
01/14/18 9:10:28 PM
#42:


I see a lot of people driving Porsche's and lambo's these days so I assume they already have an emergency fund.
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REMercsChamp
01/14/18 9:12:52 PM
#43:


Darklit_Minuet posted...
NES4EVER posted...
So then what do you think makes you so unemployable?

Nothing about me in particular. Economy just sucks

Then why do most people have jobs and you don't?
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Darklit_Minuet
01/14/18 9:16:06 PM
#44:


REMercsChamp posted...
Darklit_Minuet posted...
NES4EVER posted...
So then what do you think makes you so unemployable?

Nothing about me in particular. Economy just sucks

Then why do most people have jobs and you don't?

Networking. They have connections who get them work. I'm new in town so I haven't made any connections yet
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REMercsChamp
01/14/18 9:20:50 PM
#45:


Darklit_Minuet posted...
REMercsChamp posted...
Darklit_Minuet posted...
NES4EVER posted...
So then what do you think makes you so unemployable?

Nothing about me in particular. Economy just sucks

Then why do most people have jobs and you don't?

Networking. They have connections who get them work. I'm new in town so I haven't made any connections yet

You think people are networking to work minimum wage jobs at gas stations?
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kingdrake2
01/14/18 9:22:28 PM
#46:


it's not likely i will ever have that much in my lifetime unless lady luck decided that i win the lottery :(.
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DevsBro
01/14/18 9:24:02 PM
#47:


The figure I've heard is 3-6 months of living expenses.

Which, if you're a financial analyst, might be around $100k.
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NeonOctopus
01/14/18 9:28:41 PM
#48:


Darklit_Minuet posted...
Lmao most of us will never earn that much in our lifetimes

is the real life?
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gunplagirl
01/14/18 10:42:27 PM
#49:


tennisdude818 posted...
Your rainy day fund should cover 3-6 months of expenses. This is something anybody can do if they save something every month.

"Anybody"

Not everyone can, there's countless articles about small expenditures left and right that have extra fees attached that primarily affect people just above and all the way down the poverty line. And not just people on disability with income caps where exceeding a certain amount will disqualify them from disability (typically 20 hour work weeks at minimum wage in most states).
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