Comments on Charles Schwab on Emergency Funds for RetireesTypePad2010-03-17T18:18:17ZNAhttps://www.freemoneyfinance.com/tag:typepad.com,2003:https://www.freemoneyfinance.com/2010/03/charles-schwab-on-emergency-funds-for-retirees/comments/atom.xml/Budgeting in the Fun Stuff commented on 'Charles Schwab on Emergency Funds for Retirees'tag:typepad.com,2003:6a00d83451bcbd69e20133ec4f6f59970b2010-03-29T18:19:03Z2010-03-29T18:19:03ZBudgeting in the Fun Stuffhttp://budgetinginthefunstuff.com/I'd want a large emergency fund in retirement simply so I wouldn't need to make withdrawals if my investments tanked...<p>I'd want a large emergency fund in retirement simply so I wouldn't need to make withdrawals if my investments tanked or something...backup is always nice.</p>Eugene Krabs commented on 'Charles Schwab on Emergency Funds for Retirees'tag:typepad.com,2003:6a00d83451bcbd69e20133ec4e8643970b2010-03-29T15:25:26Z2010-03-29T15:25:26ZEugene KrabsEmergency funds are like shoe sizes. One size does not fit all. And like emergency funds, short of the right...<p>Emergency funds are like shoe sizes. One size does not fit all. And like emergency funds, short of the right fit, I prefer something that may be too big than something that may be too small. :D</p>ddan7 commented on 'Charles Schwab on Emergency Funds for Retirees'tag:typepad.com,2003:6a00d83451bcbd69e20133ec4d8db7970b2010-03-29T12:59:26Z2010-03-29T12:59:26Zddan7I think the real reason for this large emergency fund is that it is also part of your mix of...<p>I think the real reason for this large emergency fund is that it is also part of your mix of funds at retirement. When you retire, you should have a much larger portion invested safely so that when the market dives, you are protected, especially with 4 years of living expenses safely tucked away in a CD.</p>sashie commented on 'Charles Schwab on Emergency Funds for Retirees'tag:typepad.com,2003:6a00d83451bcbd69e20133ec479c86970b2010-03-28T14:58:16Z2010-03-28T14:58:16ZsashieI am always surprised by the number of people who think that a 10K emergency fund is sufficient for any...<p>I am always surprised by the number of people who think that a 10K emergency fund is sufficient for any and all emergencies. For many people, 10K may be more than enough. But for many other people, a 10K emergency fund won't be at all sufficient. </p>
<p>Retirees might need a larger emergency fund for many reasons. If you need to put a new roof on a house, that can run you more like 12k - 20K easily. And, if you have more than one emergency like that in a year...how exactly are you going to fund it? </p>
<p>A real emergency fund protects a person/family from more than just 1 event. It also is large enough that you can weather an emergency and be able to replenish the fund before another emergency hits...like increased taxes, needing a new roof, having a dental issue, needing a new car and not wanting to go into debt for it....if all of those things happened in a 12 month span - it wold be pretty much impossible to weather it with only 10K and be able to replenish before the next shoe dropped.</p>BillV commented on 'Charles Schwab on Emergency Funds for Retirees'tag:typepad.com,2003:6a00d83451bcbd69e201310feb7797970c2010-03-28T03:53:35Z2010-03-28T03:53:35ZBillVSomehow I'm not clear on this concept. why would retirees need an emergency fund? they are not going to lose...<p>Somehow I'm not clear on this concept. why would retirees need an emergency fund? they are not going to lose their jobs. They presumably have enough income to supplant a salary and it should be fixed. If you mean funds for broken cars, or plumbing or other house repairs, then that makes sense. But that is oh say 10k. What am I missing?</p>myfinancialobjectives commented on 'Charles Schwab on Emergency Funds for Retirees'tag:typepad.com,2003:6a00d83451bcbd69e20133ec43d1e5970b2010-03-27T23:27:08Z2010-03-27T23:27:08Zmyfinancialobjectiveshttp://myfinancialobjectives.comI agree with your response. Most Americans are not properly prepared for retirement much less an emergency fun WHILE retired....<p>I agree with your response. Most Americans are not properly prepared for retirement much less an emergency fun WHILE retired. On year's worth of spending cash is a lot of money to set aside, even if you are retired.</p>Seth commented on 'Charles Schwab on Emergency Funds for Retirees'tag:typepad.com,2003:6a00d83451bcbd69e201310fe7f0b2970c2010-03-27T13:17:24Z2010-03-27T13:17:24ZSethHey FMF, A good idea for a post on the bible and money: scripture calling Christians to have an emergency...<p>Hey FMF,</p>
<p>A good idea for a post on the bible and money: scripture calling Christians to have an emergency fund. </p>