1432: How Much Savings Is Too Much by Sam of Financial Samurai on Building An Emergency Fund

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Education, Self-improvement, Investing, Business

4.4 • 1.3K Ratings

🗓️ 9 February 2021

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

Sam of Financial Samurai tells you how much savings is too much. Episode 1432: How Much Savings Is Too Much by Sam of Financial Samurai on Building An Emergency Fund Sam Dogen's net worth took a beating in 2009 as the world was falling apart. He thought it would be a good idea to start a personal finance site to help himself and others make sense of chaos. After all, he had spent 10 years working in the finance industry, got his MBA from Cal, invested and saved aggressively, and still got financially rocked! Since then, more than 20 million visitors have stopped by FinancialSamurai.com. The original post is located here: https://www.financialsamurai.com/how-much-savings-is-too-much/ Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily, Episode 1432.
0:04.0	How much savings is too much by Sam of FinancialSamurai.com
0:09.3	and I'm your host and personal finance enthusiast, Diana Mariam.
0:13.6	This is the show where I narrate posts from thought leaders and personal finance every single day of the year,
0:19.5	in 10 minutes or less.
0:21.2	And if you enjoy this crazy idea of reading blogs to you for free,
0:25.4	it'd be great if you could share this podcast with someone today.
0:28.9	You can email or text them on a link to OLDpodcast.com
0:33.2	or even better if you're able to subscribe them to the podcast right on their smartphone.
0:38.3	It's a really big help to keep this show going and growing.
0:42.5	And with that, let's hear today's post and start optimizing your life.
0:50.6	How much savings is too much by Sam of FinancialSamurai.com
0:55.7	Prudigious savers of the world unite from the post how to retire early and never have to work again.
1:03.6	I mentioned I've saved roughly 15 to 18 years worth of living expenses
1:09.0	after saving 55 to 75% of my after-tax income every year for the past 13 years.
1:16.7	If you do the math and follow the chart in this post,
1:19.6	you'll see how you too can save 15 to 18 years of expenses in 13 years' time.
1:26.1	Conventional wisdom says to save six months to one year's worth of living expenses in case
1:31.4	something happens to your main source of income, whether voluntarily or involuntarily.
1:37.4	However, I don't know where this six to 12 months barometer came from,
1:41.9	because frankly, I think that's not very much.
1:45.3	Goodness forbid you lose your job.
	...

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