The very minimum amount of money that the majority of individuals should always have on hand is an emergency fund that would last at least six months and meet every day needs. We can survive unforeseen catastrophes or surprises with the help of emergency savings without having to liquidate your possessions.

Not so long ago, I might open a brokerage account, choose a money market account or a comparable option, and patiently wait to discover an appealing investment while earning 4%, 5%, or even 6% on my money. As compensation for maintaining money on hand, I could earn dividends and interest. Not anymore.

Maintaining an equity investment in your brokerage account directly or through funds of some kind, can make sense even with less than $500,000 in net worth and at least 10 years before retirement. But only if you have an emergency fund at your neighborhood bank should you do this, though.

With your emergency fund, you shouldn't take chances. Return generation is secondary. The secret is to keep adding to your emergency fund via dollar-cost averaging. Dollar-cost averaging is when one makes a fixed monthly contribution to the emergency fund, regardless of market conditions.

By giving you peace of mind, it might motivate you to persevere with your investing plan despite various economic, market, and political circumstances.

Few things in financial life can compare to the comfort that comes from having a pool of reserve cash into which you can dip and which acts as an anchor when markets fall.

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@silversaver888

^{I am not a financial adviser. This article is not meant to be financial advice. My articles on cryptos and precious metals share my personal opinion, experiences, and general information on cryptos and precious metals.}

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