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I have a large cash cushion that can fund the next 5 years of my life. Other than that, I'm prepared to postpone some life goals if shit does hit the fan.
by spaceman_2020 4y ago
I have a large cash cushion that can fund the next 5 years of my life.
Other than that, I'm prepared to postpone some life goals if shit does hit the fan.
- esperent 4y agoIf you're storing your assets as cash, how will you deal with inflation? Hopefully you'll never have to deal with what's happening in (e g.) Turkey over the last few years, but: if you were Turkish and you had five years worth of cash saved up two years ago, and you've never spent any of it, you now have what, 1 year's worth of cash? We assume this'll never happen to the dollar/euro/pound, but what if it does? Even to a lesser degree. Are you prepared?
- spaceman_2020 4y agoI honestly don't know. Investing in anything seems futile since everything keeps crashing. I'm just living more conservatively and focusing on maximizing my cash pile. If inflation does start hitting double digits, I wouldn't know what to do.
- ranguna 4y agoOne year worth of cash is still enough. I do the same as the OP and the way I deal with inflation is that I just keep adding more money every month. The objective of this stash is not to make a profit or fight inflation, its just to have a good enough amount of money to survive with 0 salary for at least a year. Regardless of whether or not I have a year worth of money, I just keep adding more.