Saturday, March 21, 2015

Emergency Funds - How much should we need?

Hi Everyone,

This morning I just read one of the post from Silly Investors about Emergency Funds. I feel that his post is really good for us to understand the important of having enough emergency funds for unexpected situation.

In terms of emergency funds, how much do we really need? For now it is really hard for me to determine which is why most of my funds are in my bank account. Certainly there are people saying that I am still young and should invest more and should take more risk for higher returns. But for me, I personally feel that having at least 50% cash still feels better for me in order to handle unexpected situation. For me, I have bought insurance and my brother also have Aviva insurance and my mum has it as well. So personally, I do feel that I am still quite secure and stable when handling unexpected situations.

As I have just started working and aiming to have at least SGD$100K savings for my flat and wedding, I think I am in a steady progress in growing my savings. I am still thinking about how much should I invest in order to maintain my comfort zone.

What do you think?

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