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Emergency Fund
Posted on 3/18/14 at 10:37 pm
Posted on 3/18/14 at 10:37 pm
I have my emergency fund fully funded - but it is sitting in a savings account earning nothing.
I am tempted to pull it over to my fidelity account and try to do a little better than savings account return.
What do you MB experts do with your emergency funds for a better return than a savings account?
I am tempted to pull it over to my fidelity account and try to do a little better than savings account return.
What do you MB experts do with your emergency funds for a better return than a savings account?
9
Posted on 3/18/14 at 10:46 pm to nelatf
Peace of mind is worth more than cash value to me. I ensure I have 8k min in my checking by the time I'm paid.
10k is prob only 3 months expenses but I have a stable job and my wife could work asap if needed.
10k is prob only 3 months expenses but I have a stable job and my wife could work asap if needed.
Posted on 3/18/14 at 11:08 pm to nelatf
I put mine in a Roth IRA. The returns year over year aren't necessarily any better but the benefit comes about 15-20 years down the road because there is no tax at all.
Posted on 3/19/14 at 12:55 am to nelatf
I personally hate having money not working for me.
If you don't already have a Roth, use it for that.
After a few years, the accumulated gains will far offset losses you might incur if you happen to withdraw in the middle of a big downturn.
The key is to slowly phase it over. Don't dump all of your money in it at once, so part of it can build earnings without the full risk exposure.
Also, use a balanced fund, not all stock.
I use Vanguard's STAR fund.
If you don't already have a Roth, use it for that.
After a few years, the accumulated gains will far offset losses you might incur if you happen to withdraw in the middle of a big downturn.
The key is to slowly phase it over. Don't dump all of your money in it at once, so part of it can build earnings without the full risk exposure.
Also, use a balanced fund, not all stock.
I use Vanguard's STAR fund.
Posted on 3/19/14 at 6:04 am to nelatf
Set up a seperate brokerage acct and throw it in some kinda ultra stable bond fund.
Posted on 3/19/14 at 6:35 am to nelatf
Posted on 3/19/14 at 7:53 am to nelatf
I do not understand the need for a savings account, what expense cannot be put on a credit card while you unwind your brokerage account? It takes what, 5 days max to get the money?
Posted on 3/19/14 at 8:22 am to nelatf
If you are in br, I think pelican credit union is giving 4% on up to 10k and a little less than 1% on anything over.
Posted on 3/19/14 at 12:15 pm to nelatf
VWINX
Posted on 3/19/14 at 1:24 pm to nelatf
I have my emergency fund in an Individual investment account, which can be fully liquid within 5 days if need be. Obviously there is some risk involved, but I monitor it constantly.
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