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Old 06-13-2019, 02:32 PM
 
105,747 posts, read 107,736,740 times
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We go through about 10k a month so we need quite a bit and keep it ready to go in our brokerage core account which we use to pay all bills
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Old 06-13-2019, 02:34 PM
 
Location: California side of the Sierras
11,162 posts, read 7,590,067 times
Reputation: 12523
I keep a cushion of 1k. After everything is paid, I "sweep" the excess to savings or investments or whatever. Then I get paid again and it starts over.

I like this system because it is so easy to tell if my account is "balanced".
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Old 06-14-2019, 01:34 AM
 
Location: Henderson, NV
7,087 posts, read 8,588,812 times
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It depends, I like to keep it somewhere around $20K to $40K, I'm self-employed / own my own company, so my variance is much higher than many people. Our business tends to be very seasonal, so summer can be awesome, but winter can be terrible, and while I try to guard against that by keeping $20K in the corporate checking, I need to have my own buffer in case the company can't pay me for months on end. I also have all credit cards set to autopay so if my personal checking dipped below $10K, I'd be worried about a couple of autopay credit cards just dropping it too low for comfort. If I had a regular paycheck, I don't think I'd keep that kind of money in checking. At least I'd put it in a 2.1% savings account or something like that.
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Old 06-14-2019, 09:20 AM
 
Location: Lower East Side, NYC
2,970 posts, read 2,593,630 times
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My checking account gives 3% on $10k, so I keep that much there.
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Old 06-14-2019, 09:27 AM
 
Location: Texas
44,257 posts, read 64,077,267 times
Reputation: 73913
My wife, fp, and most sane people say too much.
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Old 06-14-2019, 09:31 AM
 
47 posts, read 32,042 times
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About a year's worth of living expenses (or enough to write a check for a new car if the need arises).
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Old 06-14-2019, 09:35 AM
 
3,265 posts, read 1,776,543 times
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it varies from %80-%150 of monthly income.
Which covers 3-6 mo base expenses.
The interest unearned is trivial to me as I much prefer leaving my bills and CC's on auto pay.
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Old 06-14-2019, 10:33 AM
 
10,581 posts, read 5,550,745 times
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Enough to pay the next quarter's Estimated Payment to the IRS (a big number), plus about 2 months of expenses which are on auto-pay.
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Old 06-14-2019, 10:37 AM
 
Location: Reno, NV
5,987 posts, read 10,431,257 times
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Usually $15-20k, and more in liquid assets in my brokerage account - at least enough to cover a full year of expenses.

I'll soon retire, and will start keeping a little more in savings as a buffer. I'll set up my investment accounts to automatically dump an amount equal to my average monthly expenses into my checking account.
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Old 06-14-2019, 02:22 PM
 
Location: Squirrel Tree
1,199 posts, read 714,657 times
Reputation: 510
Like 500 bucks. I first shunt it into a high yield online savings and then into non actively traded securities. I used to be a FundRise and LendingClub user but have removed most of my money because mutual funds actually exude more money.
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