I have a few long-term investments, but no savings account. I would like to start one as an emergency fund, with a year of salary. I need something liquid that I can tap into in the event of an emergency without incurring a tax penalty.
When I look at savings accounts, I feel like I'd be an idiot to open one. The U.S. Federal Reserve attempts to achieve a 2% annual inflation rate with their monetary policy. High-yield online savings accounts only offer up to about 1.3% annual yield. I'd be losing money by trying to save.
Is there some other place I can store my money that will at least match inflation; and is reasonably safe, stable value-wise, and accessible without penalties in the event that I need it? I'm willing to go with something that can take a few days/weeks to withdraw and doesn't have FDIC insurance, if it will keep up with inflation.
Submitted July 28, 2017 at 03:01AM by FlexNastyBIG http://ift.tt/2vd8JqG
