Long-Term Financial Planning
EXAMPLES
Long-Term Financial Planning
EXAMPLES
Emergency fund has to be highly liquid so you can have easy access to it. At the mean time it’s a better idea to save your emergency funds in some type of account where you can gain some interest on top of your savings. Examples of plans such as CDs (Certificate of Deposit) , Savings and Checking Accounts or money market accounts. A savings account is the best place to keep your emergency fund — it provides easy access to cash if you need it. And a high-yield savings account will help you grow your balance by paying a higher-than-average interest rate. (High Annual Percentage Yield, APY) To see our picks for savings and checking accounts go to “Solutions”
Pros: Highly liquid, you can earn some interest.
Cons: Low interest rates.