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Tractor Talk Discussion Forum

Re: How much cash in the bank ???

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Author  [Modern View]
oldtanker

01-03-2018 10:56:24




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In the event of a bank collapse money in the bank isn't going to be available. And as we saw when both the farm crisis hit in the 80's and the housing bubble just a few short years ago land values can go down. Even gold is subject to market trends.
But to the OPs question? The US military told us 3 months pay in the bank. Then congress for most of my career kept us 3.5-13.5% behind the cost of living making it impossible to save 3 months pay! Also as we saw with the past recession, even with extended unemployment people were still out of work 2 plus years later. People were out of work for 8 to 9 years during the great depression. So it's subjective as to how much you should have to fall back on.
Rick

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