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cash on hand

June 12th, 2017 at 04:26 pm

So we bought our house. We still have about 1.5-2 years of living expenses in cash. But we are planning on doing some extensive remodeling of the basement. We also have to stash another $15k for 2017 Roth IRAs and college savings. I'm thinking also that we should start $2k for each DK into a 529. That would take our savings to $19k plus $18k into the 401k.

I find myself hesitating because I don't want to not enough cash on hand to do a remodel cash. But it's a strange feeling after sitting on so much cash to be down to a more reasonable number and still hesitating to invest it.

Plus I feel like we have a tentative spending budget but there are a lot of variables we can't account for yet. Maybe by the end of the year I'll feel comfortable enough to invest some of our cash.

What about everyone else? My goal is 6 months cash on hand and the rest is invested. We used to live like this but when we moved without income we bumped it up to as much as possible.

Posted in Mortgage, Investing | 6 Comments »

6 Responses to “cash on hand”

  1. rob62521 Says:
    June 12th, 2017 at 07:30 pm 1497295821
    1497295821

    Can you do some short term, but safer investing of some of the money before the end of the year so you realize a little more? I know exactly how you feel when you say you got used to having a lot of cash on hand and then it went elsewhere. There's a security knowing you can get your hands on it, but there's something to be said about making a little on it as well.

  2. LivingAlmostLarge Says:
    June 12th, 2017 at 07:59 pm 1497297587
    1497297587

    Just in capital one checking. It's making 1%. I think depending on how the next few months shakes out we'll be out at least $30k of it to retirement and a few other things. It also depends on DH's bonus in the next few months. As it vests it'll be very generous.

  3. VS_ozgirl Says:
    June 13th, 2017 at 11:03 am 1497351834
    1497351834

    Congratulations on the house purchase Smile.

  4. Carol Says:
    June 13th, 2017 at 11:30 am 1497353455
    1497353455

    In a retiree discussion on another blog, someone advised keeping enough cash to feel comfortable( not nervous), invest the rest.That sounds about right. But you're not retired, you just need to get used to having a paycheck again.

  5. MonkeyMama Says:
    June 13th, 2017 at 01:11 pm 1497359493
    1497359493

    Our cash goal is the same. In addition though, always endlessly saving up for many things. Though I think most these things are kind of smaller (than like a house down payment). I expect that in the next few years we will go very cash heavy for college AND the down payment on our next home. We seem to alternate between just keeping a basic emergency type fund and then saving up for the BIG goals.

  6. LivingAlmostLarge Says:
    June 13th, 2017 at 02:53 pm 1497365603
    1497365603

    Yeah it's just harder I think with a new budget and also DH's first year so we aren't sure about the bonus structures even if we don't use it to live we do save it so we have to determine how much to invest and how much to save in cash.

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