How much $ in the bank makes you feel comfortable/secure? - Page 2

eyrehead · 09-18-2007, 03:02 PM

I like having enough to get us through 6 months, which for us is around $12k; we have almost double that, and we'll be looking into some sort of retirement fund soon! Once we have a retirement fund set up, and at least $12k in the savings, I'll feel a bit more secure. I have been enjoying the benefits of keeping the check book balanced, etc. I was so bad about that since we had OD protection. However, our bank started charging $10 per transfer, and the $ amount in our savings was slowly dwindling away!

So I got the check book up to date and balanced, and nothing has come out of the savings in over 3 months! WOOHOO!!

chopey · 09-18-2007, 03:13 PM

Quote:

Originally Posted by eyrehead

I like having enough to get us through 6 months, which for us is around $12k; we have almost double that, and we'll be looking into some sort of retirement fund soon! Once we have a retirement fund set up, and at least $12k in the savings, I'll feel a bit more secure. I have been enjoyed the benefits of keeping the check book balanced, etc. I was so bad about that since we had OD protection. However, our bank started charging $10 per transfer, and the $ amount in our savings was slowly dwindling away!

So I got the check book up to date and balanced, and nothing has come out of the savings in over 3 months! WOOHOO!!

Might I suggest that you not wait any longer to get your retirement fund going!!?? Do you not have one at all?? It seems odd to me to have that much in savings yet NONE in retirement! The longer you wait, the less money you'll have come retirement time!!! I encourage you to get on it, and find a good retirement account, ASAP!

eyrehead · 09-18-2007, 03:24 PM

Well, Brian does have an annuity fund through the union hall, that we've not touched yet. He is no longer union, and he needs to meet with the financial director (or whatever he's called) and go over what we need to do to get that money "free" from the union, so WE can invest it, or whatever. With Brian being self employed, we have a CPA we deal with several times a year, and we plan to go over some financial planning issues, retirement plan options, etc. at the end of the year. Believe me, if I had MY way, it would have been done a long time ago! I appreciate your concern and advice though...it's nice feeling like someone's got my back, so to speak!