4 ms·

>most financial advisors do not recommend that you keep a significant portion of your assets in savings accounts. This, of course, depends entirely on the indi

• runako 11y ago
  Obviously, if you're planning on using 85% of your assets in the very near future, that's an exception. But in general, if your financial advisor suggests going 95% cash for the long haul, you should probably get someone else.
  • nommm-nommm 11y ago
    I have less than "recommended" (depending on who you ask) in an emergency fund (but I do still have one). Why? I have a spouse with a large income and it is doubtful crisis will hit us both at once. I also can reduce my spending without a problem in the short term - most of my spending isn't fixed expenses it is experiences that can be curtailed very easily. Someone with a large mortgage may want to keep more in their emergency account - that's all I'm saying. Age has a lot to do with it also - if you are young you can ride out large dips in the market.