Now I've read ( well skimmed) What Gary said. Logically - his idea works for someone like me - DH and I have a house, some retirement, some other investments. DH had an opportunity to move some $$ into a higher yield account - but it could take over a week to get to it - I said go for it.

Now , I know other people that 1) have no investments 2) no house 3) no or little retirement -

they could use some saving - just so they can live in the no job emergency zone.

I have a pretty severe money fear. Logic is actually making me rethink things . Can I go as radical as no savings - probably not. But I think I can get way more radical with paying things off. After April. Just in case the bullshit with Matt's 401k comes back and tries to bite us in the ass.

Der. I'm with those that didn't realise the precise argument. I should invest, but it would require paying attention.

I don't mean to be ornery, but relying on insurance seems less secure to me, of late, as well.

I'd be more interested if I weren't in the Snot Boogie income bracket.

1. Who actually plays Monopoly long enough to lose? I always got bored before it got that far.

2.

(Too dripping with sarcasm? I just cant help myself.).

You are right: your friend's manuscript positively screams its douchebaggery. Please tell me it has never been published.

3. Your friend appears to assume that everyone on the planet is nimble and logical in their financial dealings, which is demonstrably untrue. The emotional exaggeration of risk is a nice, built-in brake on the headlong self-destructiveness of the impulse-buy.

4. I think the object lesson of the last year's financial shenanigans has been: use undue credit in haste, repent at leisure. And, I mean, undue credit is like mold on cheese, these days. One might even call aversion to risk somewhat of a virtue, especially where house-flipping in South Florida is concerned.

I think insurance is like a lot of other investments. I have earthquake insurance. It does me no damn good if we have a little shake and the chimney falls off my house. however, if the big one hits --I have enough money for a house. not the sma e house - not even a whole house - but enough that I have a start. of course, the damn will break and there will be a flood and nothing will be covered .....because all damage will be flood damage not earthquake damage.

1. Who actually plays Monopoly long enough to lose? I always got bored before it got that far.

me

I've played Monopoly to conclusion and it is very satisfying to win.

Please tell me it has never been published.

It has not and would never be without a lot of editing. I think his advice is sound but the writing is offensive.

3. Your friend appears to assume that everyone on the planet is nimble and logical in their financial dealings, which is demonstrably untrue. The emotional exaggeration of risk is a nice, built-in brake on the headlong self-destructiveness of the impulse-buy.

I don't think he assumes people are nimble and logical. To the contrary he's trying to address their irrational fears. I think he rightly points out that money moves in a very logical fashion. That is, people will maximize their earnings, and if you don't somebody else will take advantage of you. Seriously, I think it comes down to that. Some people will get very rich because they bothered to learn finance, and most people will lose money they could have because math scares them. Or they don't want to think about it.

4. I think the object lesson of the last year's financial shenanigans has been: use undue credit in haste, repent at leisure. And, I mean, undue credit is like mold on cheese, these days. One might even call aversion to risk somewhat of a virtue, especially where house-flipping in South Florida is concerned.

I don't think he's talking about the credit in the housing and loan speculation. He's just talking about readily available credit that any graduating college student would have.

Seriously, there aren't many "financial emergencies" that $7,500 wouldn't address. That will fix your car or repair your roof. On top of that you probably already have car insurance and insurance on your house. Etc.

roof repairs are closer to 10,000- 20,000 ( assuming worse case scenario)

The only time I was actually winning at Monopoly, every one else playing decided to quit.

I'm on the building committee for rebuilding my church that burned, which was fully insured for the replacement value. With changes in code that are supposed to be covered but aren't, problems with the site, and the amazingly fast inflation on building materials, it looks like the money we have, including both insurance and an outpouring of donations, might get us about half the building.