WWYD to invest $20k?

[Anonymous]

DH and I have $20k just sitting in a regular savings account. The idea initially was that it's an emergency fund of sorts for unexpected expenses. It's been bugging me for a long while and seems not a smart way to handle this money.

If we might need to have access to it should a need arise what would you do with it?. What safe options are available to grow this amount but give us access if something should happen and we need to withdraw from it?

What would you do?

Thanks!

[Anonymous]

Money market accounts are paying ~5%/yr interest. That is what I do rather than savings account.

[Anonymous]

CapOne is giving 4.1, Ally 4.15. I'd stick it in one of these or whatever your bank is offering

[Anonymous]

Anonymous wrote:DH and I have $20k just sitting in a regular savings account. The idea initially was that it's an emergency fund of sorts for unexpected expenses. It's been bugging me for a long while and seems not a smart way to handle this money.

If we might need to have access to it should a need arise what would you do with it?. What safe options are available to grow this amount but give us access if something should happen and we need to withdraw from it?

What would you do?

Thanks!

CAVA just went public under the ticker CAVA. Talk to an investment advisor to see if this could be a good opportunity.

[Anonymous]

High yield savings account.

[Anonymous]

My husband recently told me I could put a similar amount in a money market and still have access to it if I needed it.

[Anonymous]

Um, that’s called an emergency fund and it’s doing exactly what it’s supposed to be doing: sitting there liquid in case of an emergency.

Other than putting it in another bank with a higher interest rate (if applicable), leave it alone. Definitely don’t buy Cava stock with it, as an idiot PP suggested.

[Anonymous]

There are stocks that will turn $20k into $200k in 5 years, but people sit on their emergency funds and hold on to their cash like their life depended on it.
Put it in the market and build a next emergency fun. It won't go to zero, and it's fairly liquid.

[Anonymous]

I would do HYSA and maybe purchase $5k in ibonds every six months.

ibonds are great because you can keep them for 30 years and get tax-deferred interest that matches the inflation rate, or you can cash them in (in any increment you want) whenever you want, as long as you wait a year. Since there is a one year lockup I wouldn't put it all in there at once.

But a HYSA is easier than opening a treasury direct account.

[Anonymous]

Anonymous wrote:There are stocks that will turn $20k into $200k in 5 years, but people sit on their emergency funds and hold on to their cash like their life depended on it.
Put it in the market and build a next emergency fun. It won't go to zero, and it's fairly liquid.

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Like which stocks??

[Anonymous]

Anonymous wrote:

Anonymous wrote:DH and I have $20k just sitting in a regular savings account. The idea initially was that it's an emergency fund of sorts for unexpected expenses. It's been bugging me for a long while and seems not a smart way to handle this money.

If we might need to have access to it should a need arise what would you do with it?. What safe options are available to grow this amount but give us access if something should happen and we need to withdraw from it?

What would you do?

Thanks!

CAVA just went public under the ticker CAVA. Talk to an investment advisor to see if this could be a good opportunity.

Does the SEC know you're trying to pump up CAVA all over message boards?

[Anonymous]

Anonymous wrote:There are stocks that will turn $20k into $200k in 5 years, but people sit on their emergency funds and hold on to their cash like their life depended on it.
Put it in the market and build a next emergency fun. It won't go to zero, and it's fairly liquid.

Pray tell which stocks are those?

[Anonymous]

Anonymous wrote:

Anonymous wrote:There are stocks that will turn $20k into $200k in 5 years, but people sit on their emergency funds and hold on to their cash like their life depended on it.
Put it in the market and build a next emergency fun. It won't go to zero, and it's fairly liquid.

Pray tell which stocks are those?

For $100/mo I'll send you a monthly list of guaranteed winners.