Personal savings question

2020-03-20T15:07:22+00:00

No, not unless you need it. You should keep enough in the bank to fund 6 months of expenses. Any money beyond that you should invest. And now is the best time to buy.

iseehot · 2020-03-21T18:06:48+00:00

No, you will not be able to withdraw it all at once unless you close the account and don't expect it in cash. Taking it out a few thousand at a time randomly, though...

GlobalAsshat · 2020-03-22T04:39:28+00:00

We had the second largest bubble in history leading to 2020.. it would have beat the tech bubble but the virus popped it early. The market has a substantial ways to go down yet, but at this point, telling you to sell would be bad advice.. the time to sell was Mid Feb. A lot of people will disagree with me and think stocks are a bargain here. I don't think they are. Time will tell who is right. At the rate we are going down though we could hit my target prices in a week or two though. However, unless you are an experienced investor, which you are not, do not sell your shit here unless you're ready to buy back in and are confident you can make this decision to do so when the time is right and not hesitate.

Don't withdraw cash from the bank and hold dollars under your mattress... banks will not fail, the federal reserve will see to that. Your place starts and fire or someone breaks in, that cash is gone.

Impossible-asset · 2020-03-20T10:51:08+00:00

I would advise against that.
Yes it's possible to do, but why?

If it's because of this virus scare. This is a passing act of nature that will be gone and over soon.

transcis · 2020-03-20T13:50:00+00:00

Your bank is unlikely to be in the first wave of bank bankruptcies. Your savings are covered by FDIC, so it would be an inconvenience to you to terminate you relationship with the bank. Do nothing for now, but watch the news to see if bank runs start, then reconsider.

iceman8199 · 2020-03-20T21:26:52+00:00

Listen to Dave Ramsey.

Title	Personal savings question
Author	The_Arch1tect1
Upvotes	1
Comments	14
Date	March 20, 2020 10:31 AM UTC (6 years ago)
Subreddit	Posted in /r/MGTOW2
Original Link	https://old.reddit.com/r/MGTOW2/comments/flstkq/personal_savings_question/
Archive Link	https://theredarchive.com/r/MGTOW2/personal-savings-question.809386 https://theredarchive.com/post/809386

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