4 reasons I keep $35,000 in my emergency fund instead of following typical expert advice - Business Insider

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'I decided to take my emergency savings to the extreme and have one year of expenses on hand'

Whether we like it or not, money can have a big impact on our lives.

For example, let's say you have a relatively unstable career with a low risk tolerance. You'd probably want to have a large emergency fund. But if you have a rock-solid career with a high risk tolerance, then you might only feel the need for a few months' worth of expenses on hand. It truly comes down to personal preference based on your situation. I have a low risk tolerance

In order to fund my lifestyle for an entire year, I would need $35,000 in readily available money, so that's how much I keep on hand. As a freelance writer, there are good months and bad months. My income is typically fairly steady, but there have been some dramatic ups and downs along the way.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

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