Since this money is for an emergency, it's important to keep it liquid in case you need it — especially in these uncertain times
Let's explore each of those options to make sure you're getting the absolute most bang for your buck, even during these extremely uncertain times.I wish I could tell you that there's a high-yield savings account out there that hasn't been affected by the sliding markets, but that sadly isn't the case. Interest rates are fluid even on a good day, and will ultimately follow the Federal Reserve.
If you do decide to switch savings accounts, just remember to ask yourself how much energy you're comfortable expending on a constant search for the best possible rates.
so that they mature at staggered times. That way, you can take advantage of the high interest rates while decreasing the chance that you'll need to withdraw from your CD before the end of its term. Johnson suggests, for example, lining up four different CDs — a "12-month CD, an 18-month CD, a 24-month CD, and a 36-month CD. That way, you have a nearly constant source of funds reaching maturity you can access."is exactly the type of situation that emergency funds are intended to provide for. So when in doubt, err on the side of caution in these volatile times., as such contributions are likely to have a long-term payoff.
So it's really all about your timeline. If your job is stable , your expenses are low, and you're flush with emergency savings, it might be wise to invest a portion of those funds in your financial future., as it provides a high potential for long-term growth, and you can withdraw contributions at any time without penalty. Although again, you'reOr you could split the difference, as financial writerdoes.
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