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25 Money Rules (and When to Break Them) with Brian Feroldi
All the Hacks with Chris Hutchins
Savings Rate Based on Dependents and Job Security
The required savings rate is significantly influenced by personal circumstances such as dependents and job security. Individuals without dependents and with stable job prospects or multiple income sources may only need to save roughly three months’ worth of living expenses, as their future income potential is strong and immediate cash needs are low. Conversely, those with dependents, especially in precarious employment situations or as sole income earners, face higher financial risks, warranting a larger emergency fund than just six months’ worth of expenses to ensure their financial stability.
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