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MJ DeMarco
I followed the science; all I found was money.
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My "emergency fund" is 143 years of expenses at today's current run rate and at today's current lifestyle threshold. That's assuming I don't sell business assets, don't make another dime in business or from investments, and don't cut (or raise) expenses. This also assumes ZERO inflation, which as we know, won't happen.
While this sounds like a lot, keep in mind I don't have a mortgage on any real estate properties and carry little to no debt. My biggest expenses are insurance, property taxes, and my electric bill for a fairly large house.
When I was just getting started I did not have an "emergency fund" -- but I like the idea. Any idea that enforces financial discipline (slowlane or not) is a good idea.
For me, I immediately started saving for the bigger picture (while periodically splurging for goals met) and the savings/investments just got bigger.
In short, I don't have an emergency fund as described here; I'd consider my "emergency fund" as "relatively" liquid assets that follow the Snap Rule as described in Unscripted , Chapter 43.
While this sounds like a lot, keep in mind I don't have a mortgage on any real estate properties and carry little to no debt. My biggest expenses are insurance, property taxes, and my electric bill for a fairly large house.
When I was just getting started I did not have an "emergency fund" -- but I like the idea. Any idea that enforces financial discipline (slowlane or not) is a good idea.
For me, I immediately started saving for the bigger picture (while periodically splurging for goals met) and the savings/investments just got bigger.
In short, I don't have an emergency fund as described here; I'd consider my "emergency fund" as "relatively" liquid assets that follow the Snap Rule as described in Unscripted , Chapter 43.
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