Liquid funds? | Imamother

Home List of Forums + New Post Recipe Box Usergroups Following Log in

Join Now

| | | | |

Liquid funds?

Forum -> Household Management -> Finances

View latest: 24h 48h 72h

amother

Wed, Jun 22 2022, 9:52 pm

How much liquid funds should we have accessible in our bank account?
Or rather what's the calculation for how much liquid funds we should have in our account?
And then if we have more than that, what should we do with it? I would love to do work in our house, my husband would love to save it but maybe the best thing is to invest it, but we know nothing about investing. It's not tons of money Smile

just with inflation I feel like we shouldn't just have funds sitting there.

amother

Milk

Wed, Jun 22 2022, 11:35 pm

Many financial advisors will tell you to have a six-eight month emergency fund. So enough liquid to cover all your monthly expenses for that length of time.
Anything over that should be invested. Do you have an IRA or 401K

doctorima

Thu, Jun 23 2022, 10:07 am

6 months of expenses is the guideline I've always heard, barring unusual circumstances.

amother

Thu, Jun 23 2022, 10:25 am

We have a Roth IRA but it doesn't have much in it.
How do you find a trusted financial advisor, my husband trusts no one, he's afraid to be taken advantage of. He also doesn't like not having access to his money, you know just in case We have made many financial mistakes because we just did it his way and now that we're older, I don't want to do that anymore.

amother

Milk

Thu, Jun 23 2022, 11:22 am

You can find a trusted financial advisor at any of the large financial institutions.

Personally, I use Charles Schwab. The woman I work with has been very helpful over the years, and I've turned over several funds from various institutions for her to manage.

But you can contact any brokerage firm--Fidelity, Prudential, TD Ameritrade--and you'll get the same type of service and advice.

Recent Topics

Page 1 of 1

View latest: 24h 48h 72h

Forum -> Household Management -> Finances

	Replies	Last Post
Have you gotten funds for your child with autism? by amother Children's Health	27	Thu, Jun 02 2022, 11:53 am by amother
S/O Can you clue me in on this $5m investments/trust funds?? by amother Finances	58	Thu, May 05 2022, 11:36 am by amother
Liquid tylenol/advil/motrin on Pesach by amother Pesach	3	Sun, Apr 10 2022, 3:40 pm by amother
Elal liquid allowance by amother Vacation and Traveling	9	Sun, Apr 03 2022, 9:42 am by amother
Metrocard expired with funds on it but MTA doesn't want to by amother New York related Inquiries	6	Sat, Mar 05 2022, 11:15 pm by amother

Imamother is a community of frum Jewish women, where you can come to relax,
socialize, debate, receive support, ask questions and much more.