Where to put money

[TUCKER0104]

Where does everyone stash their money?

Rentals
I have a rental that I like to keep $2K for in case something breaks. Is there a higher interest savings account that I can put this in and just make a deduction from it quarterly if there is expenses?

Cryptos
I have about $15K in cryptos. I know, I am going to get varied opinions on this. I do believe it is worth the risk though.

Checking Accounts
How much does everyone keep in their checking account? Why this amount? Do you have a 6 month expense put aside?

401K
I do the minimum to max out my employee contributions.

ESPP
I do about 3% into this.

Precious metals.
I do about 6% a paycheck.

I guess I am mostly wondering what are the percentages that everyone puts in different places?

[Raenia]

I don't have a rental, but if I did I'd put the sinking fund for repairs in a high yield savings account, probably with Ally bank.  I'm planning to move my EF there soon, when I combine finances with my fiancee after the wedding.

Where I keep my money:
 - Checking Account - ~1 month's expenses, to ensure all autopays go through on schedule
 - Savings Account - 5k emergency fund, plus sinking fund for car repair/replacement ($50/mo)
 - 401k - federal maximum $18.5k/yr, approx 31% per paycheck, invested in 100% stock
 - Roth IRA - federal maximum $5500/yr, invested in a mix of international stock, bonds, and an REIT fund, based on my AA
 - Taxable Investment Account - any extra after the above, invested in US stock, international stock, and bonds, based on AA

I don't care for the riskiness and detailed record keeping needed for crypto - detailed records of every transaction are needed to report the cost basis to the IRS, since there's no company like Vanguard to send you a convenient 1099-B.  My fiance went through that last year, and it was a nightmare and nearly drove him up a wall.  I don't care to invest in commodities/precious metals either.

ETA: You may also enjoy checking out the Investor Alley board for conversations on crypto, metals, etc.

[TUCKER0104]

Thanks for the reply. I invest in precious metals as a hedge to my 401K and IRA that are in the market.

[jlcnuke]

401k and Roth IRA max limits each year. Taxable brokerage most of the rest.

I have $150 bet on crypto, currently worth about $2k. Way too late to be jumping on that bandwagon at this point I'm so I put nothing else in that bet (note that I consider it a bet, not an investment).

I have about 0.1% of my portfolio in precious metals. It's such a small amount because I'm not trying to hedge against inflation and long-term that's really the only non-doomsday scenario they're good for.

I don't have a rental as I've never found a home in good enough condition for a low enough price for it to appeal to me.

Checking keeps the money for the next couple weeks bills and anticipated spending. Savings has any short term savings (i.e. m one for the next vacation etc).

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[Adam Zapple]

I keep about 2-3 months worth of expenses in my checking for ease of access for monthly bills and any unexpected expenses or house upgrades.  My ROTH IRA is my primary emergency savings account since I can take out money I have put in without penalty.  Thanks to another thread I found here, I have also opened up several lines of credit in case I stumble upon "opportunity of a lifetime" type investments at some point.  These also double as an emergency "fund."  These are home equity, unsecured lines of credit and multiple credit cards.

A vast majority of my net worth is tied up in my retirement accounts.  We max out our employer plans and try to add as much as we can into a ROTH as well.  Only about 10% is in precious metals, cash and bonds...90% stocks.   

I have also looked into rentals but my area is not great for real estate investors unless you are a large developer or you don't mind speculating on appreciation.  Stocks are so much easier.  When my kids get older and I have more time or I am looking for something to do, I may look into buy, fix-up, rent & hold properties.

To me, the $5 a month you could earn on the $2000 in a high yield savings is not even worth the hassle of opening one but to each his/her own.

[TUCKER0104]

I keep about 2-3 months worth of expenses in my checking for ease of access for monthly bills and any unexpected expenses or house upgrades.  My ROTH IRA is my primary emergency savings account since I can take out money I have put in without penalty.  Thanks to another thread I found here, I have also opened up several lines of credit in case I stumble upon "opportunity of a lifetime" type investments at some point.  These also double as an emergency "fund."  These are home equity, unsecured lines of credit and multiple credit cards.

A vast majority of my net worth is tied up in my retirement accounts.  We max out our employer plans and try to add as much as we can into a ROTH as well.  Only about 10% is in precious metals, cash and bonds...90% stocks.   

I have also looked into rentals but my area is not great for real estate investors unless you are a large developer or you don't mind speculating on appreciation.  Stocks are so much easier.  When my kids get older and I have more time or I am looking for something to do, I may look into buy, fix-up, rent & hold properties.

To me, the $5 a month you could earn on the $2000 in a high yield savings is not even worth the hassle of opening one but to each his/her own.

I totally agree when it comes to the savings account. Wow. $30 a year instead of $5.

[Imma]

I keep about 2-3 months worth of expenses in my checking for ease of access for monthly bills and any unexpected expenses or house upgrades.  My ROTH IRA is my primary emergency savings account since I can take out money I have put in without penalty.  Thanks to another thread I found here, I have also opened up several lines of credit in case I stumble upon "opportunity of a lifetime" type investments at some point.  These also double as an emergency "fund."  These are home equity, unsecured lines of credit and multiple credit cards.

A vast majority of my net worth is tied up in my retirement accounts.  We max out our employer plans and try to add as much as we can into a ROTH as well.  Only about 10% is in precious metals, cash and bonds...90% stocks.   

I have also looked into rentals but my area is not great for real estate investors unless you are a large developer or you don't mind speculating on appreciation.  Stocks are so much easier.  When my kids get older and I have more time or I am looking for something to do, I may look into buy, fix-up, rent & hold properties.

To me, the $5 a month you could earn on the $2000 in a high yield savings is not even worth the hassle of opening one but to each his/her own.

I totally agree when it comes to the savings account. Wow. $30 a year instead of $5.

I have more than one savings accounts and it's not a hassle at all (not with my bank, at least). When you're logged into online banking, it's a simple click on a button that says "open new savings account".

There are several reasons why I have a separate savings and checking account. For me, it's mentally easier to seperate different accounts with different purposes, but to other people it might not matter that much.

The second, and most important one, is safety. Card fraud is something that happens a lot and there is no guarantee that your bank will refund you. By making sure there's only a small amount of money in your account you're limiting your possible losses.

If you keep a LOT of money in savings accounts, you should also spread your money over different banks to avoid losing all your money when the bank goes bankrupt. I don't think people should put such huge amounts in savings accounts, but if you do, spread your bets.

[TheWifeHalf]

checking account
saving account - used for TheHusbandHalf's employer to deposit his paycheck
HSA
401k
pension (will have access to Jan, 2019)
2 tIRAs
2 Roth IRAs
safety deposit box
brokerage accounts
house we live in (paid mortgage 1990)

[Adam Zapple]

I keep about 2-3 months worth of expenses in my checking for ease of access for monthly bills and any unexpected expenses or house upgrades.  My ROTH IRA is my primary emergency savings account since I can take out money I have put in without penalty.  Thanks to another thread I found here, I have also opened up several lines of credit in case I stumble upon "opportunity of a lifetime" type investments at some point.  These also double as an emergency "fund."  These are home equity, unsecured lines of credit and multiple credit cards.

A vast majority of my net worth is tied up in my retirement accounts.  We max out our employer plans and try to add as much as we can into a ROTH as well.  Only about 10% is in precious metals, cash and bonds...90% stocks.   

I have also looked into rentals but my area is not great for real estate investors unless you are a large developer or you don't mind speculating on appreciation.  Stocks are so much easier.  When my kids get older and I have more time or I am looking for something to do, I may look into buy, fix-up, rent & hold properties.

To me, the $5 a month you could earn on the $2000 in a high yield savings is not even worth the hassle of opening one but to each his/her own.

I totally agree when it comes to the savings account. Wow. $30 a year instead of $5.

I have more than one savings accounts and it's not a hassle at all (not with my bank, at least). When you're logged into online banking, it's a simple click on a button that says "open new savings account".

There are several reasons why I have a separate savings and checking account. For me, it's mentally easier to seperate different accounts with different purposes, but to other people it might not matter that much.

The second, and most important one, is safety. Card fraud is something that happens a lot and there is no guarantee that your bank will refund you. By making sure there's only a small amount of money in your account you're limiting your possible losses.

If you keep a LOT of money in savings accounts, you should also spread your money over different banks to avoid losing all your money when the bank goes bankrupt. I don't think people should put such huge amounts in savings accounts, but if you do, spread your bets.

The last time I checked any reputable bank will be FDIC insured for up to $250,000 per account holder.  I could be wrong on that number.  May be good advice to spread the money around if you have more than that in savings accounts.

[Imma]

@Adam Zapple  Thanks for the information :) In the EU it's slightly less at €100.000 per account holder.

I help people with their income tax paperwork and it's not uncommon for people to have an amount like that in a savings account, often from an inheritance or the proceeds from selling the family home after the kids have moved out. Some people are just too risk averse to invest.