2223: How Much Savings Is Too Much by Sam of Financial Samurai on Building An Emergency Fund

Optimal Health Daily - Fitness and Nutrition

Optimal Living Daily LLC

Fitness, Health & Fitness, Nutrition

4.4 • 671 Ratings

🗓️ 23 July 2023

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

Sam of Financial Samurai tells you how much savings is too much. Episode 2223: 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? Visit https://www.advertisecast.com/OptimalHealthDailyDietNutritionFitness Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Race the rudder. Raise the sails. Raise the sales.
0:04.0	Captain, an unidentified chip approaching. Over.
0:07.0	Roger that. Wait. Is that an enterprise sales solution?
0:12.0	Reach sales professionals, not professional sailors.
0:16.0	With LinkedIn ads, you can target the right people by industry, job title, and more.
0:21.4	To get 100 pounds off your first campaign, go to LinkedIn.com slash lead to claim your credit.
0:26.7	That's LinkedIn.com slash lead. Terms and conditions apply.
0:30.6	This is Optimal Health Daily, episode 22, 23. How Much Savings is Too Much by Sam of Financial Samurai.com, and I'm Dr. Neil Malick.
0:40.7	Hey there, and welcome back to the usual Sunday bonus episode.
0:44.5	This is where I share an episode from another podcast in the Optimal Family, and today's comes
0:49.5	from Optimal Finance Daily.
0:51.4	You can find that show wherever you're listening to this.
0:55.1	So with that,
0:59.9	here's Diana reading for you and her commentary as we optimize your life.
1:09.0	How Much Savings is Too Much by Sam of Financial Samurai.com.
1:16.4	prodigious savers of the world unite. From the post, how to retire early and never have to work again, I mentioned I've saved roughly 15 to 18 years worth of living expenses after
1:23.1	saving 55 to 75% of my after tax income every year for the past 13 years. If you do the math
1:31.3	and follow the chart in this post, you'll see how you too can save 15 to 18 years of expenses
1:37.5	in 13 years' time. Conventional wisdom says to save six months to one year's worth of living expenses in case something happens to your main source of income, whether voluntarily or involuntarily.
1:51.1	However, I don't know where this six to 12 months barometer came from, because frankly, I think that's not very much.
1:59.0	Goodness forbid you lose your job.
2:01.6	Don't get a severance and have a major medical emergency.
	...

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