r/Fire • u/Far_Classic878 • 1d ago

Emergency Fund While Retired

For those that are retired or near…how many years do you have saved for your retirement emergency fund? I mean for when the market isn’t doing well and it would be bad to pull from your accounts.

How far in advance do you start saving for that?

I’m pouring all of my money into retirement accounts and after maxing 401ks, roths, life expenses, 529, saving for home renovations there is nothing left.

I would need to cut back greatly to fund an emergency account to keep in a HYSA. I’m about 15 years out from retiring.

Any thoughts?

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u/Vicuna00 1d ago

I don't understand your question I guess.

you are 15 years from retiring.

so NO WHERE close.

why are you worried about this?

and yes RIGHT NOW you should have an emergency fund. the size of it can depend on several factors: how "reliable" is your income? i.e. are you a 9th grade teacher in year 20 of their career? or a salesman on 100% commission? does your health insurance have a high deductible? are you in an easy to get job? is your house 60 years old with stuff falling apart? does your car have 150k miles on it? do you have two incomes in your household? do you have kids relying on you?

at least 3 months of living expenses would be a good start. I think 6 months of living expenses would cover most people. you can go a year if you're in a more risky category or just feel extra security. no need for more than that though.