Rainy Day part of Chicken Money
How much money should I have readily available in the rainy day fund, if my monthly expenses are covered, and I have other money in IRAs, Saving Bonds, and T-Bills?
Terry Says
T-bills with maturities of less than one year are also considered as part of your chicken money. And if you stagger maturities, you always have a chance to just not rollover and let the principal drop back into your bank account.
That said, you should also have a high-yielding FDIC-insured money market deposit account so you can access cash immediately if necessary in an emergency.
