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March 2024

Where To Put Your Emergency Fund

Where To Put Your Emergency Fund

According to, regular savings account rates only increased an average of less than .15% to hover around .5% in 2023. The costs of possible emergencies for which you have those funds are increasing far more. Some alternative options that may pay more for liquid savings are:

  • High-yield bank savings accounts

  • Money market bank or mutual fund accounts

Each has its own advantages and disadvantages you should discuss with your financial professional before investing.

When considering any of the alternatives, find out if the account or fund is backed by the Federal Deposit Insurance Corporation or covered by the Securities Investor Protection Corporation. Both FDIC and SIPC insurance have limits but are crucial in safeguarding your investment.


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