Gyroscopic Investing

$15k

No particular reason but about 3x monthly expenditures.

I keep $100K in the bank for use as my emergency fund.  It's not earning anything, but it's there is something bad happens.

I consider the cash in my saving accounts to be part of my permanent portfolio.

My wife and I treat cash as part of our PP these days.  Before we implemented the permanent portfolio I had the emergency fund set as a separate allocation (which made sense when I had a small portfolio).  Nice thing about treating it all as part of the portfolio, we don't have to do any mental games on what "counts".  We do have a spreadsheet we call our Savings Tracker that divides up what cash we are saving across all our categories and lets us track funding goals.  So emergency fund is marked as fully funded with six month expenses, my 13 year old truck replacement fund is fully funded, where as my wife's car she just paid off has a barely funded car replacement fund(old car payment is now savings for replacement car).  We also do this for stuff like home maintenance(annual and longterm) and vacations.  We just started building a house and this model still worked for us, though we were pushing our reallocation band on cash the past few years.  We both love the safety of cash(though hate the lack of returns) so keeping it all in the portfolio and using our savings tracker to track goals lets us enjoy being liquid in cash, without sitting on too much of it.  We also allocate our cash between shallow(savings and t-bills) and deep(ibonds and cd's)

As for the cash itself its split between taxable and tax-deffered.  Taxable is 2-3 months  in savings, 1 month in a cd, rest in i-bonds, and retirement accounts are all in treasury etf's or sweep funds for easy re-balancing.  We had more in savings before last month but the down payment on the construction loan was all shallow cash so currently replenishing savings account levels.