The other thing is I'm wandering if $17 K is enough of an emergency buffer before I start investing? How much of an emergency buffer did you guys have before investing?

Totally dependent on the type of emergency you anticipate having.....

Maybe 6-12months of mortgage repayments?


Cheers,

The Y-man
 
Totally dependent on the type of emergency you anticipate having.....

Maybe 6-12months of mortgage repayments?


Cheers,

The Y-man

Nah, not mortgage repayments. I have a secure job with the public service.I'll be getting some income protection insurance soon too.

I just want to have enough so if for example the washing machine breaks down I can replace it... that sort of thing. Hmmm I think i answered my own question. Probably $10 K would be enough I think?

If I have to replace my car i can always get a car loan and reduce the amount I invest per month into my index fund.
 
Hmmm I think i answered my own question. Probably $10 K would be enough I think?

If I have to replace my car i can always get a car loan and reduce the amount I invest per month into my index fund.

Kim,

You are aware I hope that you can withdraw money from a managed fund, just like a bank account... (although the "balance" changes daily, and there may be fees).

Cheers,

The Y-man
 
Top