Based on your post, and your age, I think you'll be fine regardless of size of your emergency fund. The fact that you are 25, reading this site, and making these decisions tells me you have your head on straight (so to speak), and headed in the right direction.* Baseline spending: $1,800-$2,100 per month including Cobra
* Renter
* 16-year old car worth $4k with 226k miles, no collision or comprehensive
* No dental or vision insurance
* No pets nor kids
* Single = no one for “backup income”
* Construction estimator, 2 YoE in Tampa
* $10k in cash, no debt, about $190k in the market which I don’t want to risk
I feel like job loss (especially in a volatile industry) is the main driver of not wanting to sell shares during a downturn, which is likely when I would lose it anyway. $15k-$30k is my guess.
When I was your age, I had zero emergency funds and used my good credit to get me through the rough times.
At 25 years of age, education and ambition should be the goal. It's obvious you already have the foresight for saving.
Statistics: Posted by retireIn2020 — Sun Sep 08, 2024 2:01 am — Replies 13 — Views 791