Short discussion (YouTube video) by Ndubuisi 'Andy' Egwim about types of investments with focus on emergency funds. The speakers define 'cash' as immediately accessible money (bank, high-yield savings) and recommend holding an emergency fund equal to roughly 3–6 months of expenses (one speaker prefers six months).
Types of investments and I'll address the emergency fund. Now, number one is cash. When we talk about cash, we talk about the money in your bank, money in a maybe high yield savings account, money that if you want it within 24 hours you can get it, money that you don't have to look for a buyer to buy. That is what we refer to as cash. And why do you really need to hold any cash? I don't want to answer this question because I've already answered it either on my podcast or in our one on one session in our group session. So why do you need to leave cash and what the cash is called and how much?
So the cash should be like your emergency fund. So money that is easily accessible should you need money for an emergency, ideally should be like your expenses in one month by three to six months. So for me, I did six months.
