How Much Cash Should I Keep In The Bank?

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2 жыл бұрын

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Пікірлер: 925

@lennoxmutterick6434 13 сағат бұрын

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

@Lourd-Bab 13 сағат бұрын

Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks

@lennoxmutterick6434 13 сағат бұрын

@@Lourd-Bab However, if you do not have access to a professional like JUDITH ANN PEACE, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments

@Lourd-Bab 13 сағат бұрын

@@lennoxmutterick6434 Oh please I’d love that. Thanks!

@lennoxmutterick6434 13 сағат бұрын

@@Lourd-Bab Judith Ann peace is her name

@lennoxmutterick6434 13 сағат бұрын

Lookup with her name on the webpage.

@rosannaconstil571 28 күн бұрын

A good financial manager will projects how much money an individual will need in order to maintain positive cash flow, allocate funds to grow or add new products or services and cope with unexpected events, and shares that information with business colleagues.

@EricBrittonSilvado 28 күн бұрын

By integrating these key components, a financial management system ensures real-time visibility into the financial state of a company while facilitating day-to-day operations, like period-end close processes.

@theresaquiera7412 28 күн бұрын

A financial management system combines several financial functions, such as accounting, fixed-asset management, revenue recognition and payment processing.

@durhammiller8817 28 күн бұрын

Financial experts like Timothy Eric Meek can help individuals and finance teams achieve these goals.

@christianrode8316 28 күн бұрын

Thats very important to know, Timothy Eric Meek is very intelligent.

@viniciusantonio8213 28 күн бұрын

I will be glad to know the best way to reach him please

@robertestrada434 3 ай бұрын

Why tell a person to sell their bitcoin when it’s not doing well? Sell it when it’s high.

@storm1364 2 ай бұрын

Well hopefully he kept it

@mariorodriguez3462 2 ай бұрын

Yeah, his Bitcoin remark didn’t age well………

@painfuldrp9954 2 ай бұрын

What should he sell the BTC for? Something less appreciating?

@tsaunders9340 2 ай бұрын

He was wrong to say that when he doesn't understand the market. Bitcoin has been on up trend since November 2023 and will go higher after Halving sometime this year.

@volodymyr8928 Ай бұрын

Yeah, I am not a fan of the bitcoin but that remark from a guy is very incompetent...

@26Bluegb 3 ай бұрын

He keeps saying "in his checking". You can get instant access, with no penalty, in a Money Market Account or High Yield Savings Account.

@ericcaleguer 3 ай бұрын

Sell all the BTC cause it’s not performing well anyway- that didn’t age well 😂

@anthonywebster8638 2 ай бұрын

Right? They really are clueless when it comes to investing.

@ds132100 2 ай бұрын

Darn I hope he did not listen to Rachel kind of not so smart lol oops😮

@aaronproctor1736 2 ай бұрын

BTC isn't a way to wealth. Instead cash it out and put it into a Roth IRA. $15,000 initially invested and putting $500/ Monthly @ 8% CI. That would be close to $2.5M at age 65.

@anthonywebster8638 2 ай бұрын

@@aaronproctor1736 🤣

@TheCarpentersApprentice 2 ай бұрын

@@aaronproctor1736that’s old school. There’s new ways to wealth. Look up the yearly returns on BTC.

@geraldt331 Ай бұрын

I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement. I'm seeking to invest $200K across markets but don't know where to start.

@Jadechurch-ql3do Ай бұрын

the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.

@yeslahykcim Ай бұрын

Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically withdrawing profits just before the market correction, I'm now seizing buying opportunities once again.

@lucaswilliams9992 Ай бұрын

Mind if I ask you to recommend this particular coach you using their service?

@yeslahykcim Ай бұрын

Laila artine kassardjian' is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment

@brianwhitehawker1756 Ай бұрын

Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.

@David-wo9un 2 жыл бұрын

Love Rachel; she just seems more relatable than other Ramsey personalities.

@microfarming8583 2 жыл бұрын

I agree. I used to like the black guy the most though. Where is he now?

@kathyarnold7290 2 жыл бұрын

I agree!

@corydontae6492 2 жыл бұрын

@@microfarming8583 Anthony? He branched off and has his own channel now Anthony O’neal.

@johnwilliamsoniii3936 2 жыл бұрын

Rachel and Dr. John are the only ones that I can stand at this point.

@Tameker6 2 жыл бұрын

@@microfarming8583 are you talking about Anthony or Chris?

@MrLopez746 3 ай бұрын

Put the emergency fund in a high yield savings account.

@MistaRunIt 3 ай бұрын

Working and living with parents is great

@stevelopez372 Ай бұрын

That’s right it’s a jungle out there! Why kids are staying home much longer than ever before. Lol.

@tranquil5892 2 жыл бұрын

Emergency fund in a high yield savings account.

@rnt45t1 2 жыл бұрын

This guy has zero problems. God, I wish I could have been debt free making $100k at 23...

@AutotuneSucksBalls 2 жыл бұрын

You won’t believe it but making that much money in your early 20s could be detrimental to your future. People at that age do a lot of stupid stuff such as gamble, have multiple girlfriends, buy stupidly expensive cars just to show off and so on. The best time to have money is after you marry , have a house and a child and it won’t hurt at all if you are a Christian too

@joeltroughton3021 2 жыл бұрын

@@AutotuneSucksBalls bro the best time to have money is young if you approach life life this.

@chocolateangel8743 2 жыл бұрын

@@AutotuneSucksBalls That's what stupid people do. Smart people have a diff. mindset. Plus, there is more info. available now than ever.

@shelleestewart584 2 жыл бұрын

Exactly

@tommyanomaly6193 2 жыл бұрын

@@chocolateangel8743 Most people are stupid. He's right, most 20 something year old's with a lot of money go nuts. I probably would have too.

@annbullen6983 Жыл бұрын

thank you for these videos ... there a big help

@nebulousJames12345 2 ай бұрын

I come from the future. Don’t sell your bitcoin

@micanro 8 күн бұрын

This idiotic episode did not age well. The hosts want you to sell real digital property which doubled btw and hold dollars which are now worth half of when they said this...

@jenniturtleburger3708 3 ай бұрын

There are high yield savings account that offer 5% and you can pull it out any time.

@mbank3832 Ай бұрын

like which one ?

@jenniturtleburger3708 Ай бұрын

@@mbank3832 There are multiple. Google Hugh yield interest savings accounts.

@kzfingerprint Ай бұрын

IDK the specifics, but recently banks started doing this again - it used to be better back in the day. But I think capital one is ~4% because that's the one I recently opened using a promo code to earn $x if you transfer $x within x days. But it's not just capital one, I just already had a checking account with them.

@davidsmith5868 Ай бұрын

@@mbank3832 Wealthfront. They are great. They tell you in the beginning of the month what your expected earner interest is, and at the end of the month, they add the interest and tell you how much you actually earned. No penalties for taking money out and no required minimums or maximums to get the 5%.

@jonathanarras1281 2 жыл бұрын

Didn’t have to pay for college? See how not paying for college puts you in a great position in life

@d_all_in 2 жыл бұрын

If you think paying taxes your entire life for "free" college is cheaper than paying for college yourself, you're delusional

@patrickm8010 Жыл бұрын

SOMEONE has to pay for it.

@elmateo77 Жыл бұрын

He also got a degree that allowed him to earn $100k+ right out of school. Why should the taxpayers have to bail you out of your english lit major?

@waterheaterservices Жыл бұрын

My hard working neighbors owe me a glorious revolutionary free education for Correct Thinking and Speech.

@dericanslum1696 Жыл бұрын

...without offering a solution or how it was acheived in the first place...the point being...?...

@LiquidRetro 4 ай бұрын

Ramsey never mentions a HYSA and they should. It's a lot better place to put your emergency fund, zero risk as long as it's under $250k.

@wanefelicia8779 2 жыл бұрын

Thank God every day u make good money like that. u are blessed

@KNMK259 2 жыл бұрын

This guy is a Starboy. Thanks for the inspiration.

@joeydziedzic7466 2 жыл бұрын

Ever since the first time I heard it, it made so much more sense. The emergency fund is insurance, and insurance costs you money. Love that!

@derekjelinski5651 2 жыл бұрын

Stablecoins and hard metal

@DavidRamseyIII 2 жыл бұрын

@@derekjelinski5651 don’t have children

@jx6564 2 жыл бұрын

@@derekjelinski5651 you mean like UST (Terra)? LOL

@financialdecimation 2 жыл бұрын

@@jx6564 Its insane how many ppl had all their wealth in Terra, when you should only put enough you can afford to lose. I suppose some felt they could afford to lose everything

@situated4 2 жыл бұрын

That's what I've already said. Thx.

@jvyeknom 2 жыл бұрын

He should just keep his investments and start banking his money now for his emergency fund.

@alec_hiers 2 жыл бұрын

Rachel's great with knowledgeable advice.

@rtothec1234 4 ай бұрын

I just keep enough to avoid the bank and CC fees. Like 5 grand.

@annbullen6983 Жыл бұрын

love this channel

@gr8ride411 2 жыл бұрын

What a lucky 23 yr old! He’s killing it! Someone raised a smart young man.👍🏽

@toctreb Жыл бұрын

Lucky being the key word. Lucky he had free college.

@APICSKH 3 ай бұрын

@@toctrebWell in that case kudos to the parent again. I don’t see any problem in either case ✌️

@Wolfstalker21 2 ай бұрын

Not the school system lol!

@Harp_and_Guitar_Moving_Forward 2 ай бұрын

Sounds like ya know, a super genius

@shaylaahava6413 2 жыл бұрын

They both did a great job answering this!

@achavez78 2 жыл бұрын

Also, one more thing: DON'T GET MARRIED

@ericcastle7296 Жыл бұрын

VERY TRUE

@stevelopez372 Ай бұрын

True, and don’t have kids out of wedlock. Lol.

@kevinl4604 9 күн бұрын

@@stevelopez372 Why?

@barbarabinstock272 4 ай бұрын

Imagine cashing out of bitcoin at $16k one year ago and watching this back today

@bennyl7224 3 ай бұрын

🤷🏿‍♂️ he didn’t have an emergency fund

@MrsAyub-gf5wy 3 ай бұрын

😮100k in 1yr from now.

@royrosete7085 Ай бұрын

This is a high value man. 23 yo and already concerned about his financials. About the liquids, just add more to it until you have 3X to 6X your monthly expenses.

@GK-bh1tp Жыл бұрын

Make sure your emergency fund is not in a regular checking account...... An online savings account (ally, amex, ect) is currently giving 1.75% returns!

@George-on3zm Жыл бұрын

At 23 this is Amazing!! I wish I was at this point at 23. Wow. Great job kid!!

@amgooder 2 ай бұрын

His parents are rich...he was spoiled the rest are the norm😂

@TerryCollinsP31Lifestyle 3 ай бұрын

Great Question

@monicalifornia_ 2 жыл бұрын

I appreciate this question.

@zenphoenix5911 4 ай бұрын

I hope he didn't sell his BITCOIN. It's up over 140% from when they gave this advice.

@PaulMDiaz 3 ай бұрын

Why not build your emergency fund in a high interest savings account (ex:Ally)? May not be the greatest investment but sure beats a checking account rate.

@Stocklove 3 ай бұрын

Nice video!

@markvb5592 2 жыл бұрын

Dave Rachel and Ken are the best.

@ScienceMinisterZero 4 ай бұрын

Horrible advice on the Bitcoin.

@JP-kl4zk 3 ай бұрын

These people clearly haven't done any reading to understand bitcoin. It's okay if you are not interested or lazy but don't make any recommendations regarding an asset if you don't know anything about it.

@alansach8437 2 ай бұрын

Bit coin exists only as electronic bits on a computer. Warren Buffett says never to invest in anything you can't fill up a stadium with! If I buy Apple Stock I can fill a stadium with computers, if I buy Exxon Stock I can fill it with gasoline. These companies produce tangible goods. Bit coin exists only in the imagination of the people who agree that it exists! No thank you! I don't care what you say it's worth. I don't care how much money some people have made. It isn't tangible.

@KianaShalix 2 жыл бұрын

Very well said on the emergency fund not making money its insurance and you usually pay for insurance right =) so think of it as an investment to skip the interest payments on that emergency cost. If you have to spend 10k on 6-9% interest making min payments you pay more in interest then you would losing 2-3% on that 10k invested because life happens and it happens more often then you think =).

@sjchan3199 2 ай бұрын

Love rachel and george. This caller has hes head screwed on straight. Well done, your doing a brill job.

@nmc8931 Жыл бұрын

GREAT question

@cristiandiaz8497 4 ай бұрын

High Yield Savings account, Marcus is great right now

@SteveJim-pg3fv 2 ай бұрын

I'm a father of two who bought a house last year. For me, it was a major turning point! In addition to feeling the effects of the economic downturn, I'm lucky enough to enjoy a respectable monthly income from wise investments that I've made. I have therefore meticulously prepared for my retirement following my children's graduation from college.

@ReyreJune 2 ай бұрын

Wow, interesting indeed! Currently I'm in need of investment ideas or tips. Earlier this year I hesitated and failed to take any action until now. However, I'm determined to try something new as I am very open to various investment ideas . I want to be retired in my forties or fifties. I really wish I can achieve what you have achieved and I believe it will happen

@SteveJim-pg3fv 2 ай бұрын

It's essential to comprehend the complexities of investing. Having a trustworthy support system, such as a financial adviser, who can advise you is crucial, especially when choosing assets.

@ReyreJune 2 ай бұрын

Thanks for the advice but it's hard to get a trustworthy financial advisor here..can you recommend one?

@SteveJim-pg3fv 2 ай бұрын

Generally, investing requires higher knowledge. For this reason, it's important to have a solid support structure to guide you through especially in asset picking. I operate with (Alex martin tarlor) an investment specialist who partners with a licensed wealth management firm. For the record, his experience has been the best for my finance

@ReyreJune 2 ай бұрын

Thanks for talking about your financial consultant. I will definitely look him up and get in touch with him

@bayrenevilla 4 ай бұрын

Bitcoin up 150% since this video, great advice you gave gim

@BankruptRecords 4 ай бұрын

lol saw that as well.

@KingCzar29 4 ай бұрын

Bitcoin is extremely speculative. They gave solid advice for the time. Everyone at the time was convinced its was going to zero. Now every is convinced its going over 100k after the halving. There’s no real consistency

@BankruptRecords 3 ай бұрын

Na people that dont invest in that class of asset thought it was going to zero. @@KingCzar29

@potatoeslol1216 3 ай бұрын

@@KingCzar29I don’t know a single soul who thought Bitcoin was going to zero.

@KingCzar29 3 ай бұрын

@@potatoeslol1216 good for you champ. With all your wisdom you probably went all in and are now set for life 👍

@mikestevens2053 3 ай бұрын

One problem with "math-based" thinking, where you keep very little in cash in favor of higher-return investments is this: the very circumstances which create an urgent need for cash are often the same circumstances which cause the market to temporarily tank. Then, you need to fire sell your investments to raise cash. I'd go with Dave's advice on this one, maybe using an online bank to get a little better return on that cash.

@brianpeterson7028 4 ай бұрын

1:59 "sharp guy" 😂 he probably is, but "lucky guy" would make much more sense. He even said himself that he was lucky enough to not have to pay for college

@grandmastergyorogyoro532 2 жыл бұрын

Hey Bo, welcome to the show! It rhymes well.

@tho464 4 ай бұрын

Note: if you need liquid cash in bulk, the bank may make you order it which could take a couple days. Banks don’t like to give out $10K all at once. Have some cash in a safe too.

@jackieferrarimusic Жыл бұрын

Definitely a good question.

@amerlin388 3 ай бұрын

Definitely needs a bit of a safety net, but if his expenses are minimal (living with parents?) I think he should work towards maxing out his Roth 401k (company match going into Trad. 401k).

@DeWoodyard 2 жыл бұрын

Mr. Cruze is ONE LUCKY MAN!!!

@keco185 4 ай бұрын

The real answer is that emergencies are more common when the market is bad. You don’t want to be forced to pull from your investments at the worst possible time

@mikestevens2053 3 ай бұрын

Bingo, you nailed it!

@alansach8437 2 ай бұрын

Seems that way, doesn't it? If the roof is going to blow off at the same time the car takes a crap, you can bet the market is in the toilet!

@saints9577 2 ай бұрын

It takes 1.5 business days to transfer money from my money market (5.26%) to my checking account.

@somerandomgamer1260 2 ай бұрын

is there any reason to have a "boring old savings account making 1%"? Considering how many high yield savings accounts there are these days. My emergency fund is in a 4.9% savings account.

@basschaser9356 3 ай бұрын

A lot of these callers call just to brag and they already answered their own question . Have someone more realistic making 40-50k with normal expenses bills

@teamvoldemort6114 2 ай бұрын

90% of these calls are train wrecks. Not hard to find. Nice to see a good example for once where someone is doing the right things and is winning.

@ld4974 Жыл бұрын

Cash in the bank is looking pretty good about right now.

@bagofchips55 2 жыл бұрын

I've never had to ask myself how much is to much

@daveclow4920 3 ай бұрын

He could put the cash in a checking account at a credit union and make 3% to 4% annually

@rebeccaoprea9917 2 жыл бұрын

He seems and sounds more mature than others his age .

@randallblank9531 Жыл бұрын

Likely because its a staged call?

@alia1824 Жыл бұрын

It’s clearly fake

@trentonpearson7353 Жыл бұрын

@@alia1824 It's not a staged call because I have been a caller on the show

@Nawalta 4 ай бұрын

Yeah that was my thought too. Either he’s lying about his age or he grew a little too quick. Being responsible is great, but I hope he allows himself to enjoy his 20’s too.

@slhines7 2 жыл бұрын

Greenspan: "We can guarantee cash, but we cannot guarantee purchasing power"

@kathy.7475 3 ай бұрын

He sounds like my grandson. He is 23 and had $20,000 in his savings before he graduated from high school. He worked odd jobs. He bought a house last year. Now he has his own construction company.

@rancorslayer5228 3 ай бұрын

Wow that’s impressive! I’m sure you’re very proud of him.

@richardtilford4229 2 ай бұрын

These Ramsey proteges have been way off on BTC. Watching this a year later. this guy would have 3x his money. That is the problem with know-it-all investor gurus.

@dans685 11 күн бұрын

Just because it went up doesn’t make their advice wrong. It’s a highly speculative place to have your money and could lose most of its value at a moments notice . He was talking about having an amount set aside for an emergency.

@terriesmith2616 2 жыл бұрын

For me, $3K in a checking account won't even pay my bills past a month. Even if his monthly expenses is less than mine, $3K is still too little liquid to have. I wouldn't put myself in a position where if an emergency comes up, I'd be forced to sell my investment especially when said investment is at a low, so it would be selling it at a loss. That's a terrible position to put myself in, which I'd never do. A safe liquid amount for a low expense person would be around $30K, but that's just my opinion.

@garchah1 2 жыл бұрын

10k is pretty good.

@oglocbaby520 2 жыл бұрын

30k is a lot of money to have just basically sitting there doing absolutely nothing. For a single person that isn't elderly or sickly I can't even imagine what type of emergency would pop up where you'd need anywhere near that amount. If you were to lose your job you could easily find some sort of replacement gig, there is a massive worker shortage right now. I personally have about 8-9 months of my expenses in cash and I really don't feel I need more than that.

@oglocbaby520 2 жыл бұрын

@@garchah1 10k is enough to cover for things like home or major car repairs. If you were to lose your job it's a decent sized cushion you can fall back on. Again, it all comes down to your individual circumstances, a single individual with no kids and little to no debt should be fine with something like that.

@kuryanthomas1438 2 жыл бұрын

sounds like for his basic living expenses he lives paycheck to paycheck and being very aggressive with investing, everything else he invests.

@WideAwakeHuman 2 жыл бұрын

it's so variable person to person you really can't judge what is a good amount for someone else in a different city... I've got over a year's worth of expenses in cash and I like the security - and yes I've got other investments so I'll be fine in the tiny chance that the dollar goes into hyperinflation. I think people get too focused on the "don't have anything but the bare minimum in cash" cuz you're losing money thing

@jondoe5305 2 жыл бұрын

I would like to have a paid off house , live off dividends from S & P 500 and have an Emergency fund.

@christianrodriguez5346 2 ай бұрын

I am 22 and I am about to make similar money as this guy and my parents are letting me stay to save and invest. I am going to help them out whenever they need me of course. It is nice to hear a guy like this talking because I am also heading the same direction. No bitcoin though. I only have 15k in my bank account. Debt free as well. I feel good hearing and I am pumped.

@Holdeenio Ай бұрын

I love it when they bust out the old school air control headsets

@tylermorrison509 2 жыл бұрын

Cash is the second best performing asset this year (including the high inflation).

@freedomworks3976 2 жыл бұрын

Half a years wages in savings is what I like 👍 👌

@luisalvarez9250 2 жыл бұрын

Even the emergency fund it’s not safe at the hands of banks!

@LookAtLilDude Жыл бұрын

4:43 yup he is soooo right

@AntagonisticAsian 3 ай бұрын

I'm 49 and earn about £2M per year and save about 30% in HYSA's. I've been reading a lot of articles mentioning how worthless 'cash savings' are in this current unstable economy. Do you suggest I invest in real estate, stocks or Gold?

@gagnepaingilly 3 ай бұрын

you need a certified financial planner straight up! personally, I invest in ETF's and also love investing in individual stocks. yes it’s riskier but am comfortable in my financial environment

@sommersalt88 3 ай бұрын

Agreed, After taking charge of my portfolio in early 2017, i stumbled into losses. Upon realizing that a change was necessary, I consulted a fiduciary advisor in 2020 and since then my £3.2m portfolio has gained 28% annually through restructuring and diversification using dividend equities, ETFs, mutual funds, and REITs.

@sommersalt88 3 ай бұрын

"Heather Ann Christensen" is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment

@84gaynor 3 ай бұрын

insightful comments, very much appreciated.. just came across the consulting page of Heather Ann Christensen after inputting her full name on the web, super impressed with what i've seen so far

@84gaynor 3 ай бұрын

Thank you for sharing, I must say, Heather appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call

@norsco28 4 ай бұрын

Best thing he did was buy bitcoin!

@curlrain 2 ай бұрын

Half of my emergency fund is in a short term bond ETF or short term bonds the rest is cash. ETFs are very liquid and their current rate is more than 5%.

@mrhawkeye293 9 күн бұрын

I have 250k in a 4.5% interest savings account. I know its way too much cash but I love the feeling of security and I get 1k a month in interest for doing nothing. If I knew what i was doing im sure I could turn it into much more but I am VERY risk averse.

@RichV20 6 күн бұрын

That 250k in October of last year could be 325k today in the stock market. But you enjoy that 1k a month with 9% inflation.

@yohanniskassahun 2 жыл бұрын

i have 250000$ in my saving account but idon't know what to do .i was gonna buy a house but the price is too expensive?

@user-hv1sk2zx6u 2 жыл бұрын

Buy a land back home with that money. $25000 won’t get you a house here.

@MartinFire13 5 күн бұрын

@@user-hv1sk2zx6uhe said he has 250k not 25k

@jimroscovius 4 ай бұрын

1%? My emergency fund, sitting in a bank, makes 3%. And it's available instantly - I even have a debit card for it.

@cnewton6527 4 ай бұрын

This video is from a year ago. 3% is good at a brick and mortar bank. Fidelity account is almost 5% today.

@frozenburrito9313 3 ай бұрын

A few thousands of cash depreciate like 100 dollars a year, which is totally fine for the peace of mind it gives you

@MENSA.lady2 Ай бұрын

As Little as possible. Enough to pay your normal monthly outgoings, like a mortgage. and food. Put all you can afford into bullion. In an emergency you can cash in a Golden Eagle or two. If your bank goes belly up you can't lose much.

@ThaBloodWitch 2 жыл бұрын

I've always wanted to hear them address the concept of a checking account buffer, even when you're on bs 2. I thought that's what this video was, without the investment part.

@HandleToWatch 2 жыл бұрын

The buffer recently came up for us in conversation. We are on BS3B. Our FFEF lives in our savings out but we have about 1K (half a month's expenses) in the checking account as a buffer. When emergencies pop up we usually pay off from the buffer instead of pulling from the savings account.

@ThaBloodWitch 2 жыл бұрын

@@HandleToWatch Makes sense! I just have wondered if you're following his plan and every red cent outside the starter e fund goes to debt, how much margin do folks allow themselves in checking in case a bill goes higher than they expected? Overdraft fees are awful. It's always seemed to me they preyed on the poor that way.

@jgg204 Жыл бұрын

Answer: as much money as you can right now. you should be stockpiling cash going into a recession, cutting back on expenses and spending overall, gazelle intense savings, and hunkering down. We are in for a big storm. The more cash the better

@alansach8437 2 ай бұрын

This comment didn't age well! No recession! Stock Market at all time highs!

@jgg204 2 ай бұрын

@@alansach8437 You don;t hop off the train as it's crashing

@apurvavpatil 23 күн бұрын

Few HYSA gives like 5% interest; Citbank, everbank, jenius bank, amex savings

@cavalerojazz2507 4 ай бұрын

"Go ahead and sell your bitcoin, it's not doing that great anyways" 1 year later, his money has doubled if he held on. BTC 23k to 50k. just watch what it does into the next year. Blackrock wouldn't be buying it up if it wasn't a good investment and putting an etf on the market. It's getting adopted by institutions, don't miss the boat

@ericmendels 3 ай бұрын

I love how you take your time to educate your viewers we all strive towards financial stability and a better Life. It is easy to achieve this through the right investment, and by living frugally and budgeting. I'm glad I learnt early in life to work hard for financial freedom

@DanielPanuzi 3 ай бұрын

Considering the prevailing economic climate, I recommend seeking a mentor or a knowledgeable advisor who can provide guidance and support.

@Angelavaldess 3 ай бұрын

Despite having no prior investing knowledge, I started investing before the pandemic and pulled in a profit of approximately $350k that following year. In reality, all I was doing was getting professional advice

@Jaymilnere 3 ай бұрын

@Aurierserge50 3 ай бұрын

@@DanielPanuzi Exactly, why I stopped taking financial advise from KZfaqrs, because in reality I end up with a collection of confusing stocks. Whereas, all I needed was a real market expert to have made over $350k in less than 2 years

@Aurierserge50 3 ай бұрын

@@DanielPanuzi It's gotten especially difficult since the pandemic, hence why I decided to use the expertise of an advisor, my spouse kicked against the idea initially, but oh well guess who's best buddies with our advisor now

@bobdadruma Жыл бұрын

Try to maintain a Min of 20K in savings. 5K in checking.

@linda7345n 3 ай бұрын

Loved the advice; and well done to the young guy for doing so well so early in life!

@christianrodriguez5346 2 ай бұрын

I just got recommended this vid. I also have a similar salary after graduation. No debt either. My parents are letting me stay at home so I can save and invest. I don't have crypto that is the only thing that the guy and myself are different in. Single as well. So I will just focus on work and treat myself with moderation. Definitely would be saving for a house while doing investing and treating myself and my parents.

@thomasg1729 2 жыл бұрын

What has worked for me is 50% cash and 50% in stocks. The cash will underperform but the stocks will will make up for that and you will have a nice average.

@silvermoneyphoenix1624 2 жыл бұрын

Everyone I hear them say mutual funds 🤢

@Livelaugh44 Жыл бұрын

Finally a comment as to the fact that “life is important too” lol

@drkarenbukharibukhari9931 4 ай бұрын

🎉goodadvice

@kortyEdna825 Ай бұрын

The current market/economy is unnecessarily tougher for boomers/senior citizens, I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio. I’m really worried about survival after retirement.

@user-yb5bg8im5g Ай бұрын

at 66, i laugh about ''the market''. cashed out when biden got in. we are too far gone and joe has made it worse. no family left to worry about. ''i am my own legacy''. instead of income streams, i have an income pond. cd ladders are a beautiful thing. i sleep like a baby not worrying about the ''roller coaster''. i'm headed to off grid cabin on land to really lower my expenses.

@chadpurser 4 ай бұрын

I would say put it in a high interest savings account (currently ~4.5%). It is still easy to get to.

@longbeardmcstruttin5876 3 ай бұрын

Who is offering that

@vonzaag4555 3 ай бұрын

@@longbeardmcstruttin5876sofi

@SamEichel 3 ай бұрын

@@longbeardmcstruttin5876ally, so-fi, many other banks

@maccam26 3 ай бұрын

@@longbeardmcstruttin5876many .. synchrony bank, PayPal savings, Truliant, etc…

@pdx7776 3 ай бұрын

Ally has 4.35%

@blessings4life Жыл бұрын

Ramey loves finance so much he gave his Daughter.

@mccoyji 2 жыл бұрын

Counter party risk yo!!!

@Jumpman67 2 жыл бұрын

Enough to pay your monthly bills

@blackworldtraveler3711 2 жыл бұрын

That is just the beginning.

@Jumpman67 2 жыл бұрын

@@blackworldtraveler3711 nope. You don’t need to keep anymore cash than that.

@blackworldtraveler3711 2 жыл бұрын

@@Jumpman67 For you apparently.

@victorolmedo1240 2 жыл бұрын

3-6 months

@Bblock150 2 жыл бұрын

I'm kind of in the same boat. I have 80k in my basic savings (waiting to purchase a home) and 35k in my checkings. I dont in invest in anything and have no debt. Thoughts on where i should get started? I have a 457 and a state retirement account that automatically gets contributed in every month directly from my checks every month. Im 25

@penguinc2653 2 жыл бұрын

Open a Roth Ira ! Its a wise choice at 25

@Bblock150 2 жыл бұрын

@@penguinc2653 have a 3rd retirement account?

@penguinc2653 2 жыл бұрын

Roths are tax free once you retire tho

@judymandel6131 2 жыл бұрын

Roth IRA is the best bc at retirement, the money you have is yours tax free. Shot for the starts and find as much as you can up to the max allowed.

@karakol86 2 жыл бұрын

Open Roth IRA and invest in index funds that track S&P 500

@vincentmaloney5835 4 ай бұрын

I like online savings accounts. For example, Synchrony Bank High Yield Savings Account, 4.75% APY, no minimum balance. It is much better than regular savings account.

@jaedyn06 4 ай бұрын

I put all my money that I’m not investing or using in my HYS Synchrony account.

@vincentmaloney5835 4 ай бұрын

@@jaedyn06 Me too. I like this account a lot.

@Sky1 3 ай бұрын

Yup, Stocks are volatile. I lost almost 17 Grand last week. It took almost 3 days to make it back

@zombl337og 2 жыл бұрын

for his income id say $20-$25k in the bank to feel comfortable if ANYTHING happens.

@amigam3280 2 жыл бұрын

Savings should be based on expenses, not based on income. I make well over $250k/yr and only have $10k in emergency fund

@vic2796 2 жыл бұрын

As long as you can cover your expenses for 3-6 months that’s all that matters

@GardenNJ 4 ай бұрын

Hopefully this gentleman did not take their poor advise, Bitcoin doubled since then, emergency fund also should be in money market account as it will gain some interest. (if needed it can always be taking out without interest, but if you wont have emergency at least you wont loose potential interest for the period)