No. of Recommendations: 2
8. Always keep enough cash on hand to cover potential sudden needs, such as home or car repairs.
----------------------------
I'm not sure why so many people recommend this. Yes, it might be a good idea, especially if you are younger and maybe living paycheck to paycheck...but then you probably can't do it in that case.

===========================
Speaking for myself, my investments portfolio is my long-term money, meaning holdings I don't want to sell until I'm good and ready to sell them, based on their own investment merits - not because I need to pay for car repairs. (OR the credit card I used to pay for the car repairs.)

Actually, I keep enough in my money market acct. at the bank to pay for my next car. I consider that kind of a luxury, having graduated from the days when I used to buy a car with a home equity loan.

Bill
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.