I have dissected and analyzed my situation, but wanted to have a few mustaches have an go at it. I subscribe to the idea of having one's money working for them and thus wanted to only keep a relatively small cash reserve and use something similar to the HELOC e-fund concept. However, times they are a changin'.
I am currently debating increasing our cash savings. My employment situation has become less stable, with my current employer downsizing our branch location and implementing a new strategic plan that undoubtably will lead to my position moving to a different location. To make the story short, a move for this job is not likely something we would be willing to do. So that leaves me in uncertain waters and thinking about how to play this safe financially. We do not currently have any invested assests outside of retirement accounts and with the reality of a job change now looking me in the face I am not sure I can take what cash we have and put it in the market without some potential heartburn (face-punch for being a wuss?) So, the idea being to increase our cash safety net.
Other details that may or may not matter:
My career field is not common or very easily transferable, meaning it will take me some time to find other opportunities.
We are both contributing to pre and post tax retirement accounts.
I was thinking of increasing cash to equal six months of my salary.
The job change is not likely to happen in the next six months, but I don't know when.
As always, I look forward to your insights. Hopefully I have provided enough information.