amphibian, on 21 November 2023 - 06:57 PM, said:
We digress though.
I think having 3x salary liquid is absolute nonsense because that money would be sitting there doing little when it could be invested or spent to make life better now.
I don't really have savings right now due to putting together a life after divorce. I put a decent chunk of my paycheck towards retirement and always have, but that's not easily accessible, liquid money. I am slowly getting to a place where I can sock away money, especially with my recent good results at work. I am not alone in that - there's quite a few of my peers and others who cannot do even this. Maark's dark joke bites hard for me and harder for him + others.
6 months salary seems to be a healthy point for emergency savings. I will aim for that.
The transition may be turbulent, but we'll be better off in the end. In the interim I'd (yet again, as I did near the start of the pandemic) recommend investing what you can in the stocks most likely to benefit from AI and robotics. As the transition is taking place mass political movements may be necessary to ensure sufficient universal basic income---though the relevant leading tech companies have been refreshingly enthusiastic about future UBI. With human 'work' no longer being practically necessary, it will hopefully no longer be the bugbear-crutch it currently is to justify ongoing extreme economic inequality, and consequently there should be more political support for the redistribution of wealth. Perhaps people will compete for virtual 'capital' if that's what they want to do.
Stocks are liquid assets:
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What are liquid assets and non-liquid assets? | Brex
This post has been edited by Azath Vitr (D'ivers: 21 November 2023 - 08:11 PM