Johnny & Derek go over everything related to the ever important “Emergency Fund”. From how to save for it, where to store it, use cases where it saved them and more. It’s extremely important to have readily accessible funds for emergencies, but many people still don’t do it! Listen to this episode and get your emergency fund sorted before you need it.
Where we are:
- Johnny FD – Greece / IG @johnnyfdj
- Sam Marks – Barcelona / IG @imsammarks
- Derek Spartz – Venice Beach / IG @DerekRadio
Sponsor:
- Indeed
Receive a $75 credit for a sponsored job post when you visit Indeed.com/ILAB - Support Invest Like a Boss: Join our Patreon
Like these investments? Try them with these special ILAB links:
- Wealthfront Robo-Advisory – Get your first $5,000 managed free
- Wealthfront Cash Savings - Get .50% APY Boost on your savings!
- Cult Wines - get 1 month fee-waiver free each year (8% reduction)
- Fundrise – Start with only $1,000 into their REIT funds (non-accredited investors OK) *Johnny, Derek, and/or Sam use personally invest through the above services.
Time Stamp:
- 05:55 – What’s the percentage of Americans who can cover a $400 emergency?
- 09:05 – First you need to work out how much you need for an emergency fund?
- 12:53 – Where do you keep the money?
- 16:16 – Don’t have your money all in one currency
- 20:55 – What about saving some money in Bitcoin or other crypto currencies?
- 25:30 – Where can we get the best yields in savings accounts?
- 28:17 – Should you use emergency funds to cover Debts?
- 29:47 – What steps to take to get the emergency fund started?
- 33:41 – How Johnny started his Emergency fund
If you enjoyed this episode, do us a favor and share it! Also if you haven’t already, please take a minute to leave us a 5-star review on iTunes and claim your bonus here!
Copyright 2022. All rights reserved. Read our disclaimer here.
