Shannon

“Savings accounts are meant for short-term goals, where you need to access the money easily (à la an emergency fund), not for long-term wealth building.”
― Tori Dunlap, Financial Feminist: Overcome the Patriarchy’s Bullsh*t to Master Your Money and Build a Life You Love—A Personal Finance Handbook for Women, Mindful Spending, and Financial Literacy

“The Financial Priority List Starter emergency fund (three months of living expenses in a high-yield savings account). 1.5.  If your employer matches your contributions to a 401(k) or 403(b) retirement savings account, pay in as much as you can. Pay down high-interest debt (anything with interest over 7 percent). Invest for retirement while also paying off lower-cost debt (again, any debt racking up less than 7 percent in interest, such as most student and car loans, mortgages, and so forth). Save for the Big Life Stuff.”
― Tori Dunlap, Financial Feminist: Overcome the Patriarchy’s Bullsh*t to Master Your Money and Build a Life You Love—A Personal Finance Handbook for Women, Mindful Spending, and Financial Literacy

“I personally like the Roth flavor for a few reasons. The first: it’s like giving sixty-five-year-old me a little gift: “Here’s this lump sum of money that I already paid taxes on; go take Hot Luca on a trip to Costa Rica.” I also have no idea what the fuck tax rates are going to be when I retire. I’d rather pay them now than leave it up to chance. Also, most people’s salaries grow throughout their careers; I expect (hope!) that you’ll be making more in twenty years than you do today, so you could contribute and pay less in taxes now, when you’re in a lower tax bracket. In”
― Tori Dunlap, Financial Feminist: Overcome the Patriarchy’s Bullsh*t to Master Your Money and Build a Life You Love—A Personal Finance Handbook for Women, Mindful Spending, and Financial Literacy

“Forty percent of Americans cannot come up with $400 in an emergency.”
― Morgan Housel, The Psychology of Money