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Me neither, I've never had a use and now it's all suddenly very relevant.
I've head good things about MMM, forgot to make sure and check him out again, thanks!
Hey Ref, thanks for the re-direct.
I definitely have an emergency fund now :)
I've perused around that subreddit article, the situations they cite don't quite fit for me, but the linked info and boggleheads article was helpful for sure, and the biggest takeaway is that I still need to take my time and do some reading.
Like, at this point I don't totally understand what an EFT is so I need to do my own research, but that seems to be one of the avenues that keeps being brought up, so your recommendation is helping my push in that direction.
I totally understand, by better questions I mean I need to figure out like, "what can I do?" and also communicate my goals better (though clearly you can already tell I'm a bit lacking that department :) ). I'm glad the conversation here has gone in multiple directions cause what I want to do is def influenced by what I can do and people are bringing up a few things that I hadn't considered.
I see what you're saying about those seeming contradictory, I simply meant even if I choose to let it sit somewhere so I don't have to actively do anything, what is the best way for me to do that? Is an index fund the right way? What is a money market? Please don't worry about answering those, I'm just trying to wrap my head around the gaps in my understanding. Once I feel like I have a more solid footing, I will definitely be coming back to query the hive :)
Also, thanks for the response, I really do appreciate it!
Everyone has been giving me the answer I needed to the question that was between the lines, which is pretty much "chill out, leave it alone until you feel confident about a decision."
I know my post is a little hot mess, I def wasn't expecting a concrete like "here's what you should do," but you're right that I wasn't even concise about what my end game is supposed to be. I appreciate you letting me know, I need to ask better questions.
It's a bigger amount than "a bit" and I don't have any debt. I work with some very wealthy people so my context has gotten a bit skewed in the last few years.
I'm definitely glad you point to the article you did, I have already read it, but there were gaps in my understanding. So every time I read something built upon that one, I still feel like I'm playing catch-up and I don't like missing details. Which makes me thorough, but also a bit obsessive until I feel like I grasp it well.
Hey yellow, thanks for the advice.
For context, I am most certainly at the risk aversion step, I should have been a bit more descriptive. The easiest part of reading about personal finance was the first two steps you outlined, which I was able to fulfill. I got inundated when it just went a little bit beyond that, but your comments in that regard are still very helpful.
- You very well could lose everything you give them. Just accept that if you're going uber risky. Think of the money as gone and everything else is a happy surprise.
I am not a gambling man, this is terrifying to me.
As always, much appreciated. I needed someone to tell me to just chill out and take my time.
I feel you, but I also live in the SF bay area. I still can't really afford to put a comfortable percentage down on a house, and even if I could, housing around here seems very unnatural, so it freaks me out.
Houses that were less than 100k 6 years ago are easily half a million now and that's spooky to me.
It happens don't sweat it :)
weirdest google search I've made in a while