Comments on: A 75-year emergency fund?

By: guinness416

guinness416 — Sun, 03 Aug 2008 12:56:35 +0000

While a 75 year emergency fund may not be feasible, I think everyone should sit down and consider whether “six months of expenses” is appropriate to their own situation.

I commented on another blog recently, that an emergency I faced a couple of years ago involved several international flights and hiring a lawyer in another country. That may be extreme, but I can see family emergencies coming up that would involve myself and/or my spouse having to fly to his country or my own, and spend an extended period there. Paying the gas bill would be the least of our worries. So I don’t do “six months of expenses” and think everyone should work out where there comfort level is at.

By: Curtis

Curtis — Tue, 22 Jul 2008 01:43:54 +0000

Dude, Ghostbusters has GOT to be one of the top five best comedies EVAR! And certainly one of the most quotable.

I can just see Bill Murray delivering that line.

BTW, I don’t have a 75-year E-fund.

By: Super Saver

Super Saver — Mon, 21 Jul 2008 20:38:51 +0000

MBH,

For me, a 75 year emergency fund would be convert to “retiring in my thirties.” No need to work if my emergency fund can sustain me to over 100

By: deepali

deepali — Fri, 18 Jul 2008 14:08:42 +0000

@ Mike – I don’t think “peak water” works like “peak oil”, but certainly water security is an issue to consider in parts of the world that are already a bit unstable…

Great post! Don’t forget the duct tape and plastic sheeting…

By: Brian

Brian — Fri, 18 Jul 2008 03:16:04 +0000

Who you going to call?

Ghostbusters!

LOL

By: Mike

Mike — Fri, 18 Jul 2008 02:17:51 +0000

Whoever came up with the idea of “peak water” should go get their tuition money back from whatever school last attempted to teach them the barest rudiments of basic science. The lesson was a complete and utter failure.

By far the more plausible future problems involve food shortages, collapse of banking and commerce, and war. While I’m not sure stocking up with ten years’ supply of Bachelor Chow is realistic, it would probably be a good idea for most folks to learn the basic agricultural concepts in case they literally do have to “grow their own” at some point.

By: RC@Thinkyourwaytowealth

RC@Thinkyourwaytowealth — Fri, 18 Jul 2008 02:07:22 +0000

I don’t think you should worry too much about some of the issues you have no control over, although you can do your part-conservation, etc. i do think that man has the ability to solve many of these problems- just over 100 years ago we did not have the modern internal combustion engine-much less computers, etc. I think the key is planning for what you can-as you mention.

Sweet Ghostbuster’s reference!

By: RC@Thinkyourwaytowealth

RC@Thinkyourwaytowealth — Fri, 18 Jul 2008 02:03:52 +0000

I don’t think you should worry too much about some of the issues you have no control over, although you can do your part-conservation, etc. I think the key is planning for what you can-as you mention.

Sweet Ghostbuster’s reference!

By: Early Retirement Extreme

Early Retirement Extreme — Thu, 17 Jul 2008 16:04:36 +0000

It is actually not a bad way of thinking if you redefine “emergency fund” from some savings accounts somewhere to “liquid assets”. I have never had a classic emergency fund and I did not open retirement funds until I was financially independent (mostly because I lived in several different countries). However, I have continuously been calculating just how long my savings would last me if I were to lose my job. I remember that after two years of saving that I had an “emergency fund” of more than 10 years. After that it went went. Four years after setting the goal, the emergency fund stood at 25 years and shortly thereafter it was infinite (around the crossover point it shoots up like a rocket).