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Originally Posted by wawaweewa
See this is the problem.Originally Posted by bijald0331
50K for a "rainy day" fund is laughable. Just call it a "Tornado and Hurricane during an Earthquake" fund.
How is the hospital thing relevant? You really think someone who can put aside 50k wouldn't have great insurance? You're living life way too scared after one unique situation.
I mean if you are making that much money to put at least 50k away for a special emergency fund, you should have investments, entertainment expenditures that you could curb back, etc.
I don't know how you are living but 50k is completely unreasonable for 98% of the American public. You just don't need that much for an emergency for most realities. 10-20k is more reasonable to me.
Someone who makes 50k a year can easily save 50k in 5 years. Even living in NYC. I'm not speculating either.
So people who make 50k/year are now so well off to only have 10-20k in reserve? 10k won't even pay rent for a full year for a 1 bedroom in most of NYC.
Some of the diff ion thinking prob stems from cost of living in NYC compared to other parts of the US. I'm telling you 10 or even 20k in reserve in a place like NYC will leave you naked in the middle of the street holding your #$%! in your hand if something unforeseen happens.
Im on your side and i'm calling ducktales on the person who said they had to paid 22K in medical bills. What job pays 15/ hr and provides no health insurance? 10K to 15K for a single person should be enough for one person to last a couple of months or atleast long enough for them to get back on their feet.