MONEY IN 60 SECONDS HOW MUCH MONEY SHOULD YOU KEEP IN EACH ACCOUNT?

MONEY IN 60 SECONDS HOW MUCH MONEY SHOULD YOU KEEP IN EACH ACCOUNT? The right balance gives you security, growth, and freedom. ACCOUNT 1. CASH EMERGENCY FUND 2. CHECKING ACCOUNT 3. SAVINGS ACCOUNT 4. 401(k) RETIREMENT 5. ROTH IRA (IF ELIGIBLE) 6. TAXABLE INVESTMENT ACCOUNT 7. DEBT PAYMENT (HIGH INTEREST) PURPOSE Covers unexpected expenses Provides peace of mind Keeps you out of debt For everyday spending Bills, groceries, gas, etc. Keeps cash easily accessible Short-term goals Vacations, car, home down payment Extra cushion Long-term retirement growth Tax advantages Build wealth for the future Tax-free growth Retirement & legacy wealth More control over your money Long-term wealth building Flexible withdrawals Invest in stocks, ETFs, etc. Eliminates debt faster Saves you money Increases financial freedom HOW MUCH TO KEEP 3-6 MONTHS of essential expenses $1,000 - $3,000 or 1 month of expenses 3-12 MONTHS of expenses 15% of your gross income (at minimum, to start) $500 - $7,000 per year (contribution limit) 10-20% of your income (after savings & investing) AS MUCH AS POSSIBLE Focus on highest interest debt first THE GOAL: Spend less than you earn, make the difference, and make your money work for you. Investments (25-30%), 401k, IRA, taxable Needs (50%) - Emergency, housing, bills, food Savings (30%) - Essentials, housing & short-term goals Fun (5-10%) - Enjoy life, but stay intentional BUILD A PLAN. STAY CONSISTENT. CREATE FREEDOM. LEAVE A LEGACY. BETTER DECISIONS. BETTER FINANCES. BETTER LIFE.