Where is the Best Place to Park Your 3-6 Month Emergency Fund?

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Title	:	Where is the Best Place to Park Your 3-6 Month Emergency Fund?
Lasting	:	6.54
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Views	:	39 rb

Put your 3-6 months emergency fund in a savings account where you don’t normally bank at
Comment from : chris consorte

Any time u put money into the system where u cannot get out of bed and grab and go is not an emergency fund!! It’s gambling you don’t know if you’ll be able get your hands on if there’s EMP!!! Thousands of not millions may be stranded!
Comment from : Darryl Tognarelli

I bonds for a year if you won't need it But you never know Maybe some of it Can't get it out for 12 months Open a Flourish savings acct Paying 455 now
Comment from : Mike B

I am 55 and not much retirement and no emergency fund Should I build emergency fund before investing anymore or do both at the same time?
Comment from : Charles Eichinger

Money market funds 45 percent and liquid…
Comment from : M J

All you Canadians watching here I have my emergency fund with EQ Bank Return is 25 which isn't the highest but the app and website are super easy to use and you can set up automatic transactions from other banks really easily
Comment from : Drew Hester

: )
Comment from : Bacciagalupe

I got mine in term investments paying various interest rates ranging from 41 to 5 There will be a break fee for pulling the money out, but it won't be a big deal compared to the actual emergency
Comment from : Ian Robinson

Under the mattress
Comment from : TC

Should have listened to them…I bonds and treasury direct are the worst! I just wasted 6 hours yesterday holding on the phone with treasury direct Awful
Comment from : Sunflower

You can take money out of an iBond ANYTIME No holding period If you take money out in less than 1 year, the money you take out gets no interest But it's accessible all the time So the Money Guy team needs to do more dye diligence on this topic!
Comment from : Brian Hale

thoughts on using money markets for emergency funds now that rates are up?
Comment from : Glhfggs

What about instead of buying an I Bond putting it into a Treasury Inflation Protected Security ETF like STIP? That way you can put in as much money as you want, receive monthly dividends that track the current CPI closer, and can liquididate at any time STIP 1-year yield is 6 and SEC Yield is 1517 as of writing
Comment from : VLS-why?

Bingo that’s why I don’t do I bonds
Comment from : Zulf Hashim mi

T bills Or qyld, xyld, jepi, ryld
Comment from : JC

Actually sin stocks tend to pay well & are actually good for holding money but…
Comment from : Rocky Staatz

Discover Savings APY is 130
Comment from : GFarr4

The extrovert bit is hilarious but sadly true
Comment from : Shant Vincent

The correct answer is HYSA/CD All the other answers are invalid
Comment from : CallmeOsho

One of the things I do as part of our emergency fund is prepay 3-4 mortgages payments
Comment from : JLD Systems, Ltd

The purpose of an emergency fund is to be able to access it quickly Keep it in a savings account
Comment from : ThePatriots010304

maybe a consumer staple etf? also have max 3 months of emergency fund money invested
Comment from : Sam Venti

I put mine in gusd stablecoin and get 6 interest 🤷🏾‍♂️
Comment from : RyanBaileyBoxing

Never do bonds if you need something liquid
Comment from : Jin Nani

Loved the closing statement Funny analogy about recession, market volatility and housing downturn not being loners and calls up others to hang out
Comment from : Ashley Nicole Brugger

I'm rotating my money into I Bonds as my emergency fund as a long term plan I'll keep the amount I feel comfortable as an emergency fund liquid but am building $20k/year in I Bonds (my wife and I) So every year my I Bonds become liquid, I can decrease my liquid cash emergency fundbrbrOver the next 2-3 years I'll have my emergency fund liquid but either earning interest or there's a lack of inflation
Comment from : Dakota Wall

Mines offsetting the mortgage
Comment from : Poppin

An Emergency Fund is one of the most important weapons in your financial arsenal, insightful content Bo & Brian! :)
Comment from : Seifer Boado

My piggy bank
Comment from : NascarCommands

The only downside to an I Bond is the one year holding period 962 is going to make you a great return, even if it goes down later It adjusts every six months and was 7+ before that I don’t think it will be dropping to a level near CDs or savings accounts anytime soon And if it does, cash it in and be thankful for your outsized, 100 guaranteed gains I also found buying them to be very easy and straightforward
Comment from : estateruby

Be careful with I-series bonds - there’s NO way to liquidate them within the first year I keep my emergency fund with a high-yield savings like Ally or PNC brbrIf you can slowly build your cash reserves, the I-series bonds aren’t bad Just remember to have some liquidated cash outside of those because of that one year minimum It’s not about a penalty - there quite literally is NO way to sell an i-series bond in the first 12 monthsbrbrI-series bonds are 30-year bonds You can add $10K a year and $5K from your tax refund each year You have to remember the I-series bonds’ interest rates change every 6 months and 962 is a record high; they could lower the rate in NovemberbrbrGreat video, guys! 😀👍
Comment from : Get Irked

I've been using Ally for 3 years now but I'm pretty annoyed at how much their rates change
Comment from : Paragon

I keep my emergency fund in a savings account with my local bank with trash rates Every other account is online checking/Ira/taxable ect The point being these funds need to be easily and immediately accessible That’s liquidity Stop looking for a real returns on your emergency funds, that’s not where the growth is supposed to happen
Comment from : Tony Incidis

As long as you don't mind Treasury Direct and the one year delay… that's a good place to protect months 4-6+ against inflation Ladder up a few hundred bucks a month By the time you need it you'll have some if not all available Just be sure to hold the first three months in a liquid accountbrbrTeaser rates are a joke Stop bouncing banks its not worth the effort
Comment from : Joseph Dickson

I’m tempted to do park it in a roth in something conservative
Comment from : Ultra

Money Market funds because most MM funds invest in very short term bonds like 4 week bonds and usually you aren’t locked in like a CD
Comment from : Rob Williams

I bonds are $10,000 per person in the household!
Comment from : Rob Williams

Ibonds can’t be sold for 1 year so not a place to park your money for 3-6 months!
Comment from : Rob Williams

It is impossible to put your emergency fund in I Bond Anything that locks you out for a period of time automatically makes it not for emergencies
Comment from : Daniel I

My Emergency reserves parked in Bread Savings currently @ 163
Comment from : shortstopdawgs

Try the “Yotta” savings account As of of June my realized APY is at 5798 and I’ve won $8935
Comment from : GAflyer

May I suggest a Yotta account or another high interest bank account
Comment from : TheKick32

Put in something you can get to it in a business day with no fees/penalty
Comment from : habba dabbado

2 month reserve in hysa for quick liquid, and 20k i bonds as reserves for rental coverage
Comment from : Investing Book Summaries

I' picked up 20k in Ibonds to cover a new fridge Puts a smile on my face knowing the new fridge will be free over the next year
Comment from : X

I had been debating the same thing recently After looking at the pros and cons, especially the ease in which you can access your money when you need it, I went with a Marcus account I'm getting 175 on the money(not the best rategranted) but in an emergency I can get my hands on it anytime I want
Comment from : Jason Moquin

Ive got more a one month to two month emergency fund but its in an ally account An emergency fund should be liquid so no bonds or etfs 5 percent interest rate beats most banks with their 05 rates
Comment from : DieselMcBadass1

I agree Emergency funds should be in easy available accounts Try to find a high yield savings account and park it there This is different than investments or retirement
Comment from : Raúl Baduel