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Do they really only mean bank savings accounts? I have exactly $0 in savings but tons of money in mutual funds and stocks and bonds.
by matte_black 9y ago
Do they really only mean bank savings accounts?
I have exactly $0 in savings but tons of money in mutual funds and stocks and bonds.
- gruez 9y ago>survey posed the question, “How much money do you have saved in your savings account?”
- matte_black 9y agoWell, then clearly it was either designed with an agenda in mind or the person who wrote it doesn’t really understand how people save.
- 5555624 9y agoI think a lot of people may save that way. My mother's side of the family is generations of family farms. A savings account, checking account, and the value of the farm -- no stocks, bonds, etc. I know a lot of blue collar workers who a in similar positions (minus the value of a farm). As has been pointed out, in the past here on HN, maybe high schools should teach a class on personal finance. Maybe a lot of these people never think of anything outside of checking and savings accounts and think other sorts of investments ar eonly for the rich.
- craftyguy 9y agoYou might want to consider having some money in a more liquid account than a brokerage account. Generally it takes days to sell/settle/withdraw from a brokerage account. Is that OK if you're experiencing an emergency which requires cashing out from there?
- matte_black 9y agoI keep about 10-20k in checking for those purposes. And that’s really only if a credit card is not acceptable. I have over $120k credit available between all my cards.