Hi anon, 1 year of base expenses would be my benchmark for emergency funds, but there is no harm to have 1 year of base salary either. Assuming you have your emergency funds set aside, you should aim to grow the rest of the monies, taking into account your time horizon and needs. Regardless of whether both of you are aiming for FIRE or not, do bear in mind that investments involve risk, so in the short-mid term (3 to 5 years), monies that are needed during this period should be placed in safer investments. FDs, SSBs, POEMS money market, and even short term endowments can be considered. You wouldn't want to invest your monies only to see 20%-40% of the portfolio value wiped out right before the downpayment for the house renovations or the wedding. Understand that time bound commitments will require a certain level of predictability for funding them (if you have to pay the wedding banquet, the hotel won't extend an extra year to you just because the market is down), whereas FIRE, which doesn't technically have a fixed time frame (if you FIRE a year later than you intened, it doesn't really hurt you). For context, although I don't know what you have in mind for your wedding/reno/car, I can provide some context for the wedding costs (these are more common, if you wish to engage other vendors, then it depends, eg. an emcee): - Wedding banquet: Tables are anywhere from $1000 - $1800 depending on the hotel. Restaurants are cheaper. Multiply that by the number of tables - Photog: $1200 onwards - Video: $1500 onwards - Bridal package: $2000 onwards depending on package details, number of dresses, etc - MUA: $700 onwards - Wedding Bands: $1000 onwards - Don't forget the ang baos for the actual day! It can add up Renovations can cost anywhere from $15K-$20K onwards. Home appliances will really depend, but actually you'd probably get by with a basic washing machine, dryer, fridge and TV, while slowly installing other stuff like home entertainment systems or robotic vaccum cleaners. I don't own a car, so hard for me to comment there. Sorry. Try getting a second hand though, to get an idea of the costs, without a significant capital outlay required.