Creeping Ever Closer to Our Goal
We now have 10 months living expenses in a high-interest savings account. We’re shooting for a much higher number (18) than is normally recommended (3-6 months) because, uh, we’re paranoid?
Well, not precisely paranoid, but cautious and hedging our bets. The economy isn’t exactly booming, and being relatively new to the area, we don’t have a deep sense of what his job options would be if he lost his current job. How long would it take him to find another good job? We have no idea. I’d rather have too much money in our emergency fund than too little.
But we haven’t stopped our other investments. In fact, these days may very well be a great time to be shoveling money into the market. We’re continuing our dollar-cost averaging that we always have, but have greatly cut back our spending and sending that extra money into our savings account.