So I have $3000 in cash in my savings account at ING Direct now... a 1-month emergency fund.
To be honest, this $3000 will probably sit there until the end of 2010, and then it'll morph into an SEP-IRA contribution when I do my taxes. Optimizing my taxes is definitely a higher priority for me right now compared to stockpiling cash. I do that a lot ... if I have money lying around, and if it would lower my taxes for it to lie around in a different account, then I move it. Easy decision. Between the 401K and SEP-IRA, my tax bill will be about $6000-$7000 lower than it would be if I were stockpiling cash.
Also, I cancelled the future monthly payments to my brother. I felt so much uncertainty about whether or not I was helping him or making things worse. I wasn't even sure how to tell him "you're welcome" last month when he thanked me.
1-month emergency fund - done!
June 19th, 2010 at 11:39 pm
June 20th, 2010 at 12:13 am 1276989219
June 20th, 2010 at 01:54 am 1276995265
June 20th, 2010 at 02:11 am 1276996297
June 20th, 2010 at 03:12 am 1276999943