Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
In need of a new name...
Old 08-13-2006, 11:25 AM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
mickeyd's Avatar
 
Join Date: Apr 2004
Location: South Texas~29N/98W
Posts: 5,881
In need of a new name...

Most posters here and other financial forums seem to generally understand what an "emergency fund" is and how it fits into one's asset allocation.

I have had an emergency fund long before I realized it or long before it had a name. I think I used to call it my back-up money, or something like that. By the time that I fell in line with everyone else and named it my emergency fund, I was only a few years from retirement.

Now that I am ERd it really is no longer an emergency fund so I need to call that chunk of cash something else. So far, "cushon fund" is the best that I can come up with, but that handle still seems to fall short.

What other name for "emergency fund" have you folks come up with for this chunk of change?

__________________

__________________
Part-Owner of Texas

Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx

In dire need of: faster horses, younger woman, older whiskey, more money.
mickeyd is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: In need of a new name...
Old 08-13-2006, 11:38 AM   #2
Thinks s/he gets paid by the post
 
Join Date: Feb 2006
Posts: 1,183
Re: In need of a new name...

"Mom, could you please help me out?"
__________________

__________________
crazy connie is offline   Reply With Quote
Re: In need of a new name...
Old 08-13-2006, 11:50 AM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
Re: In need of a new name...

I think of it as "Ohsh!t money". As in, Oh Sh!t I need some cash right now...
__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline   Reply With Quote
Re: In need of a new name...
Old 08-13-2006, 11:59 AM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,467
Re: In need of a new name...

That's just our "short term fund". We keep enough for 1 to 2 years in living expenses in a separate account from our retirement portfolio.

Audrey
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is offline   Reply With Quote
Re: In need of a new name...
Old 08-13-2006, 01:42 PM   #5
Thinks s/he gets paid by the post
 
Join Date: Apr 2005
Location: Midwest
Posts: 1,570
Re: In need of a new name...

Quote:
That's just our "short term fund".* We keep enough for 1 to 2 years in living expenses in a separate account from our retirement portfolio. Audrey
I did an audit of my life's emerency expenses before* I retried. Came to a suprisingly paltry amount and almost all of those "Gotcha" and "Oh shirt!" expenses were directly related to having a job in the first place. Heavily oriented towards cars, traveling, finding a place to live, somebody dying 6 thousand miles away.

I keep about 40 grand over and above my "regular money"* in case I ever need to buy something that runs over my annual expenses. This has not happened in 10 yrs but ya never know.

And in a further separate account I keep enough money to cover forcastable, large, one-time expenses, like my next car.

I can't let it dent my living money when it comes time to spend ity but I can't all it emergency money either.

As far as what to call these "emergency funds" .. in the Military they have a term for money you can spend that isn't voted on by congress and is not part of the regular military budget.* "Non-Appropriated Funds". Slush fund.* Money comes from different sources so that you don't have to take a B-52 offline* just because the General wants new office furniture

I just call it "my other money", or "The money I don't count"
__________________
razztazz is offline   Reply With Quote
Re: In need of a new name...
Old 08-13-2006, 02:08 PM   #6
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,617
Re: In need of a new name...

Quote:
Originally Posted by razztazz
As far as what to call these "emergency funds" .. in the Military they have a term for money you can spend that isn't voted on by congress and is not part of the regular military budget.* "Non-Appropriated Funds". Slush fund.* Money comes from different sources so that you don't have to take a B-52 offline* just because the General wants new office furniture
In my version of the military (Navy), NAF is the money that's raised by non-appropriated services... it comes from user fees, retail sales, or other fundraising activities. Once in a while there's even enough money left over to set off a holiday fireworks display or throw a base party.

When a submarine breaks you don't just dip into the slush funds. You send off a casualty report (CASREP) that lets the whole system know that you're broke and need money. Then the logistics guys cannibalize find the money to get you fixed, and later use your CASREP to get additional funding and incidentally to improve the quality of whatever broke. Otherwise everyone has to fix their own ragged gear while the logistics guys think that we're just mishandling their valuable equipment and the manufacturer gets away with blissful ignorance.

Office furniture is a different story. In the Navy we steal it from the Air Force and give our old stuff to the Army.
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Re: In need of a new name...
Old 08-13-2006, 02:44 PM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
kcowan's Avatar
 
Join Date: Jul 2006
Location: Pacific latitude 20/49
Posts: 5,717
Send a message via Skype™ to kcowan
Re: In need of a new name...

Contingency Fund
An amount kept in reserve to guard against possible losses/unforeseen expenses
__________________
For the fun of it...Keith
kcowan is offline   Reply With Quote
Re: In need of a new name...
Old 08-13-2006, 02:57 PM   #8
Full time employment: Posting here.
 
Join Date: Feb 2006
Posts: 987
Re: In need of a new name...

Quote:
Originally Posted by Nords
In the Navy we steal it from the Air Force and give our old stuff to the Army.
I was wonderning how we were always able to requisition new stuff without a problem*
__________________
rs0460a is offline   Reply With Quote
Re: In need of a new name...
Old 08-13-2006, 03:31 PM   #9
Full time employment: Posting here.
 
Join Date: Jan 2006
Posts: 899
Re: In need of a new name...

I've heard it called the "FU Money" for the not yet REed because you need it when that's what you tell the boss
__________________
mb is offline   Reply With Quote
Re: In need of a new name...
Old 08-13-2006, 04:20 PM   #10
Recycles dryer sheets
 
Join Date: Nov 2005
Posts: 195
Re: In need of a new name...

Navy, sure must have been proud, of those three legged milk stools, they got from the Air Force.
__________________
Sundance Kid is offline   Reply With Quote
Re: In need of a new name...
Old 08-13-2006, 04:40 PM   #11
Thinks s/he gets paid by the post
OAG's Avatar
 
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,598
Re: In need of a new name...

WAM = Walking Around Money. Just a suggestion works fine. Put "WAM" in the check memo area or the wihdrawal slip - you will know what it was (assuming you spend it; or is if you do not).
__________________
Vietnam Veteran, CW4 USA, Retired 1979
OAG is offline   Reply With Quote
Re: In need of a new name...
Old 08-13-2006, 04:53 PM   #12
 
Posts: n/a
Re: In need of a new name...

I call it 'CASH' - because that is what it is. - Whether it's in a MM fund or Savings Account.

When you start withdrawing from you portfolio, you should decide on a time period that your cash will cover. Whether it's 2 years living expenses or 4 years or ? - Funding this Cash account during 'Up' Market years will keep you from selling in down market years.
__________________
  Reply With Quote
Re: In need of a new name...
Old 08-13-2006, 09:35 PM   #13
Full time employment: Posting here.
 
Join Date: Feb 2004
Location: Okanagan Valley
Posts: 805
Re: In need of a new name...

Quote:
Originally Posted by Cut-Throat
I call it 'CASH' - because that is what it is.* - Whether it's in a MM fund or Savings Account.

When you start withdrawing from you portfolio, you should decide on a time period that your cash will cover. Whether it's 2 years living expenses or 4 years or ? - Funding this Cash account during 'Up' Market years will keep you from selling in down market years.
Ditto. It strictly is my cash component for 2-3 yrs, maybe 4 years expenses and is in MMF, ISA, etc.
__________________
AltaRed is offline   Reply With Quote
Re: In need of a new name...
Old 08-13-2006, 09:58 PM   #14
Thinks s/he gets paid by the post
Leonidas's Avatar
 
Join Date: May 2006
Location: Where the stars at night are big and bright
Posts: 2,847
Re: In need of a new name...

How about "Suit Moving Money"?

There is a local state senator who is friendly to law enforcement labor relations issues. His weakness is that he chases beautiful women, even when he has one at home that he's married to. During one of his marriages he and the wife went on a vacation and the step kids had a big bash while the 'rents were away. One of the partiers helped himself to some valuables and when ma and pa came home they called the police. So the cops show up (and of course they know him and this story gets out). Mr. Senator is still trying to figure out what all is missing as the cops trail him through the crib. He suddenly goes to his closet where he had his vast collection of lawyer/senator suits (much more than the average person, or so the story goes).

He starts digging through the pockets of one suit and then exclaims "Damn, they got my suit moving money!" Mr. Senator had come home more than once to find that his presence was no longer desired, and the joint bank accounts had all been cleaned out. So, he had made the habit of keeping $5,000 in cash in an old suit so if he ever had to move out under such circumstances he wouldn't be dead broke. He said the ex's always let him take the suits when he explained he couldn't work to make the alimony and child support money without the proper attire. He started that after being forced to live on some friend's sofa for a month during his first divorce. "I've had to pack up and move my suits a few times over the years. It's always better to have a little cash handy so at least I can shack out at the Holiday Inn rather than sleeping on somebody's stinky couch.
__________________
There is no pleasure in having nothing to do; the fun is having lots to do and not doing it. - Andrew Jackson
Leonidas is offline   Reply With Quote
Re: In need of a new name...
Old 08-13-2006, 10:21 PM   #15
Thinks s/he gets paid by the post
 
Join Date: Aug 2005
Posts: 1,375
Re: In need of a new name...

What-If money? (What if I have en expense I didn't expect!)

Just-in-case account? (Just in case my investments blow up!)

Whoopee cushion? (Sounds fun!)

French Fund? (I figure if our govt can call French fries "freedom fries," I can call my Freedom Fund my French Fund--for the sake of balance )



__________________
You can't always get what you want, but if you try sometimes, you might find you get what you need.
astromeria is offline   Reply With Quote
Re: In need of a new name...
Old 08-14-2006, 10:07 AM   #16
Thinks s/he gets paid by the post
 
Join Date: Jun 2003
Location: Historic Florida
Posts: 1,647
Re: In need of a new name...

I simply call it our ING Account.
__________________
"Arguing with an Engineer is like rolling in the mud with a pig. Just remember that the pig likes it."
ShokWaveRider is offline   Reply With Quote
Re: In need of a new name...
Old 08-14-2006, 11:31 AM   #17
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
mickeyd's Avatar
 
Join Date: Apr 2004
Location: South Texas~29N/98W
Posts: 5,881
Re: In need of a new name...

Thanks so much for all of your ideas folks!

So far, I prefer contingency fund as my new name.

I already call what is in my checking account (pays monthly expenses and overages are swept into MMF) CASH and I still wish to diffrentiate CASH from my STASH. I never had to scoot out of the house with my clothing so "suit money" is too limiting, but it is a hell of a story, thanks.
__________________
Part-Owner of Texas

Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx

In dire need of: faster horses, younger woman, older whiskey, more money.
mickeyd is offline   Reply With Quote
Re: In need of a new name...
Old 08-14-2006, 11:35 AM   #18
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
youbet's Avatar
 
Join Date: Mar 2005
Location: Chicago
Posts: 9,965
Re: In need of a new name...

Quote:
Originally Posted by Cut-Throat
I call it 'CASH' - because that is what it is.* - Whether it's in a MM fund or Savings Account.
Yep, me too.* I track all my funds as a single portfolio, no separate stashes whatsoever.* My portfolio contains a subset called "cash."* The amount of "cash" I keep is determined by my asset allocation plan and considers the need for liquid assets such as to get through a down market period or for unplanned, urgent expenditures.
__________________

__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
youbet is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


 

 
All times are GMT -6. The time now is 02:25 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.