General question: How much cash should you keep in your savings account?
My husband and I live in the NYC area. He makes $160k a year, I make $65k. We own an apartment, have no student loans, no car. He maxes out his 401k each year, I contribute to a pension and do 10% deferred compensation.
We currently have $5k in "fun savings" for vacations, etc. and $40k in emergency savings. We currently save $1k a month and save our tax refund of about $8k a year and his $15k bonus.
I feel like $40k is way too much to keep sitting in our bank account. How much should we keep in our emergency savings in our bank? I want to transfer the rest of it to a mutual fund or something along those lines.
Submitted July 11, 2017 at 11:19AM by hudson070 http://ift.tt/2uNfzj6
