Comments on: Emergency Funds

By: -> An Emergency Fund Will Help Reduce Your Risk Of Financial Catastrophe | Bible Money Matters

Thu, 23 Apr 2009 14:34:40 +0000

[...] Joe Taxpayer on Emergency Funds [...]

By: JOE

JOE — Fri, 13 Jun 2008 17:19:43 +0000

Dave – again, thanks for writing. Agreed, regarding ‘lost in translation’. The advice I offer here can’t be the exact advice I give with each and every individual I sit with. There’s always the bell curve, some who will blow up at the first emergency at one end, and others who can load up their 401(k) the first year out of school, to be able to access half of it if need be.
Joe

By: $125k PayOff! - Emergency fund — or not?

$125k PayOff! - Emergency fund — or not? — Fri, 13 Jun 2008 16:48:09 +0000

[...] couple weeks ago, JoeTaxpayer discussed the need for an emergency plan. I found his post very interesting — basically, no matter what [...]

By: Dave Shafer

Dave Shafer — Fri, 13 Jun 2008 14:54:11 +0000

The problem is when you are trying to speak to a wide audience, much gets lost in translation. For a financially stable audience with investments and home equity, it is really only a question of access to money. For folks who are less financially stable then the equation changes. You can’t get a HELOC if you have no equity, or you don’t own a home. You can’t use credit cards that have low limits on them for long. And if you 401K has only a few thousand in it, it won’t last you long. For those folks, saving money in a low risk environment is both a must and a good habit.