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What is a recommended amount to keep in our emergency fund?

I am 27 years old and recently married. My wife and I have steady jobs and make around $150K of joint income. We both have put an importance on savings and investing for goals down the road, such as raising for a family and an eventual home purchase. While we save and have liquid funds to support our current needs, how much should we have stashed away in a liquid emergency account? What kind of account do you recommend and how much should we have in it? Do we factor in our plans to have children down the road, or should we just have a certain amount for the both of us in case of an emergency?

Financial Planning, Asset Allocation
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April 2018

The rule of thumb is three to six months of living expenses so that would include you and your wife for now, and if and when you have a family then that amount may be recalculated to reflect your larger family. 

You could keep those cash reserves in your bank or brokerage account. Some financial institutions will pay minimal interest but with interest rates as low as they have been that is your best option in order to be 100% liquid.

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