What to do with Emergency Money?

In working on getting to 10k. Just have it in a savings account.

I'd say it depends on the kind of emergency you're saving for and how likely it is that it'll happen.

For example, if you think there's a good chance you'll lose your job I'd lean toward leaving it in cash, at least until the danger period passes. But if not and it's just extra money lying around, then sure a target fund probably isn't a bad idea.

I have a similar issue. I always hear about people investing their savings, but I am a little naive on that subject. I have a Roth IRA that I contribute to fully every year. I also have an HSA that I fund fully every year. The rest of my savings I just have sitting in a Barclays account earning 1%. Its not bad but I would like to leave 10K or so in the Barclays and try to earn a little more on the rest. What is a good place to invest $50-$75K with easy accessibility, low fees and moderate risk?

I have 20% of my emergency fund in an Invesco Equity and Income Fund and the rest in a Money Market Fund and it re-balances automatically. I'm still adding to it as well though.

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I keep mine in a CapOne 360 account earning just under 1%. It's a small amount of my total investment, so I'm okay with it being in cash and earning very little. Some like to invest it, but then what's the difference in that vs just low risk funds within a brokerage account or Roth?

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Same here. I started with a Capital One 360 online savings account because of the above-bank rate for online savings, but also to pick up the cash bonus. Yeah, the bonus won't make you rich, but it nicely enhances the first year yield. I just moved most of the emergency fund to GE Capital Bank. And that was just to pick up a fractional yield advantage (1.05% last time I looked). I hate to leave even pennies on the table if there's no reason for it.

To me, "emergency" means just short of having to bar the door and slam in a drum magazine. I can access the money in my brokerage accounts as easily as the online savings. But if/when I need it, I want it to be *at least as much* as I initially set aside for this emergency.

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What is the fee on that

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There are no fees that I am aware of. You can open one for very little money and there is no yearly fee or service charges.

Are you wondering about early withdrawal penalty? If that is what you are wondering about:

Penalties for Early Withdrawal. A penalty will be imposed for any withdrawal of principal from your CD Account before maturity. If the amount required to be forfeited is greater than the interest earned or paid on your CD Account, we will deduct the difference from principal. For a CD Account with a term of 24 months or less, a penalty equaling 90 days simple interest on the amount withdrawn subject to penalty will be imposed, and for a CD Account with a term of greater than 24 months, a penalty equaling 180 days simple interest on the amount withdrawn subject to penalty will be imposed. In certain circumstances, such as the death or incompetence of a CD Account holder, the law permits, and in some cases requires, the waiver of the early withdrawal penalty.

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I've never understood the fascination this board has with an emergency fund. If I have an emergency, I can figure out a way to use a credit card until the cash from a stock/fund sale hits my account. I'm not parking 10 or 20 grand in a savings account while the world marches on.

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i sort of feel the same.

i'm torn

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I've never understood the fascination this board has with an emergency fund.

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I think the "emergency fund" term is used loosely.

My "emergency fund" goes to my roth or investment accounts. I don't ever keep more than a month or two of net pay in checking/savings. Just not necessary. I can create cash in the bank almost immediately during business hours with a line of credit and I have plenty of available credit to use if one of these emergencies needs immediate payment.

The idea is more to be liquid enough so that if something happens with employment you could support yourself and family for X amount of time without having to go in to debt. It doesn't actually have to be in a savings account.

That makes more sense.