|
| Just hoping for some input on where (ie. types of investments) to put 'emergency funds' as you gradually add to them. I'm talking about in the $10,000 to $22,000 range, but still have reasonable access to it in the event of an emergency need. |
Follow-Up Postings:
|
| The Money Market is a safe investment that gives you immediate access, but an interest rate that runs less than inflation. Otherwise, I'd recommend you find a Certified Financial Advisor to look at your financial situation and help you put together an investment plan to give you 'enough' liquidity, but also some potential for earnings. JMHO |
|
| Altho the price can fluctuate a little, look at Ginnie Mae funds at Vanguard or Fidelity. Morningstar is the standard for mutual fund ratings. You'll get a better rate of return than with money market funds even with a very slight price fluctuation. I'll also recommend Bob Brinker's radio program and website. Lots of great information. http://www.bobbrinker.com/ |
Here is a link that might be useful: Morningstar ratings
|
- Posted by dave_donhoff (dwdonhoff@hotmail.com) on Thu, Oct 21, 10 at 14:35
| Hi wigardnerwannabe, I would *NOT*& recommend putting emergency reserves in *ANY* non-insured account. (period!) There are good high-yield checking accounts on offer, fully FDIC insured. Yield is in the high 3%s to low 4%s. Google 'high yield checking' and choose among several specialty websites that do nothing by gather these kinds of accounts to shop amongst. Luck! |
|
| For emergency funds, they should be: A) 100% liquid Obviously, a higher interest rate is good, but not at the expense of A or B. |
|
| 'Ready' funds? Six months to a year's living expenses. Likely more than $20K. So...where to put $50K? (In a *checking account*? Really? Those I've seen advertised have some strage requirements. I don't use a debit card or need to access pay-per-service cash machines.) |
Please Note: Only registered members are able to post messages to this forum. If you are a member, please log in. If you aren't yet a member, join now!
Return to the Household Finances Forum
Instructions
- You must be a registered member and logged in to post messages on our forums.
- Posting is a two-step process. Once you have composed your message, you will be taken to the preview page. You will then have a chance to review the contents and make changes.
- After posting your message, you may need to refresh the forum page in order to see it.
- It is illegal to post copyrighted material without the owner's consent.
- HTML codes are allowed in the message field only.
- No advertising is allowed in any of the forums.
- If you would like to practice posting or uploading photos, please visit our Test forum.
- If you need assistance, please Contact Us and we will be happy to help.