As the title says I am trying to see where people stand on this. Obviously this is all personal preference. But that is what I am after.
After depleting our savings when buying our apartment 2 years ago, we’re about to cross 6 months liquid savings in just plain old savings account with ability to immediately withdraw money.
(To clarify that is 6 month assuming 0 income, which is very unlikely given the social system of our country - so realistically we have even more in savings.)
As you can imagine, the interest in this account is not great, so I want to set a limit as to when we stop dumping every spare penny into the savings account and begin doing other things (likely try to invest).
A fair point.
Personally, I use ‘savings’ as a catch-all for any form of money you have no intention of spending frivolously. Be that in savings, stocks, or other forms of investment.
I’ve got a relative who saw anything beyond the 6 month mark as spending money. I don’t know what form his investments manifested in, but it clearly didn’t work as he’s in financial do-do, and it’s an unpleasant topic amongst the family.