My Freedom Fund = 10 months of no-income-living.
By December, assuming all goes according to plan, I will have ONE YEAR of living expenses covered. That’s a huge milestone for me.
I still think about my financial restructuring plan. I am saving enough now that for every month I work, I am able to support myself for one month of unemployment.
Even though the stock market has been rocky lately, I haven’t drastically changed any of my positions in my IRAs. I still invest in the U.S. stock market, in the international stock market, in the large caps and small caps. The volitality doesn’t bother me much – not because I am extremely risk-tolerant, but because at my holding levels, +/- 10% doesn’t make a big difference in absolute amounts.
Right now, I’ve decided to focus on cash savings after I maxed out my 2008 IRA. But come 2009… I’ll be putting $$$ into the market again. “Buy and hold”, all the experts say. I’m following their advice – time will tell how I do.
I’m grateful that I’ve had the opportunity to continue to save for the “what-if’s.” Even though I always have the support network of Mom & Dad, there is nothing like having my own money set aside for emergencies. Still, I’m really grateful to know that I can go home in a second if I really needed to.
Well Heeled Blog 
Congrats on the freedom fund! It’s a pretty awesome feeling knowing that there is a significant span of time between an income hiccup or an unexpected expense and utter debt building disaster. Great work!
You’re at a crossover point. If you bumped your savings rate by 25%, you would increase the number of months your paycheck would cover by 200%! That’s quite a difference. Even 10% more would give you 50% more freedom.
That’s really great. I remember the first time I actually realised that I could look after myself in an emergency without having to resort to the Dad Bank, and it was a wonderful feeling. Good on ya! 🙂
Congratulations! I wish I had 10 months’ worth of expenses saved, but right now, I’m still working on 1-3 mos. 🙂
Congrats on the freedom fund!! It’s awesome that you have that much saved.
Congrats! Even though you can depend on your parents if necessary, I’m sure it makes them happy that you are so independent.
SWEET! Great job!
It feels good to have a safety net, doesn’t it?
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