Emergency Savings

[cantretire]

I'm up to 4 months of take-home pay, and want to get it to 8.  In an emergency, I'd be able to stretch that to at least a year, if no income at all.  I figure everyone should have at least 6 months of take-home.  (expenses would be lower since you wouldn't be making savings deposits and would be cutting back).

[cobra19]

Savings? Zero............see no logic in letting a bank hold my money for virtually non-existent interest.

Have been making maximum contributions to my 401(k) for  ~ 22+ years now (employer matches 50%). Went over 7 figures in Nov. '07.

I do not consider CL's as any type of emergency savings. If I need cash, I tap into my FOREX account.       

Message Edited by cobra19 on 05-06-2008 12:02 PM