Hit $10k in my emergency fund for the first time at 32 and I almost don't believe it

I finally got my emergency fund to $10,000 after 4 years of chipping away at it, but I keep worrying about whether I should park it in a HYSA or just leave it in my regular checking account where I can grab it fast has anyone else hit a number that felt way bigger than they expected

3 comments

3 Comments

alexlewis1mo ago

Almost don't believe it" is smart, but keep it in a HYSA you can still grab money fast.

dakota_rivera1mo ago

oh man 100% yes that HYSA route is the way to go. i literally just did this with a big chunk of cash i got from selling my car and i was so paranoid about losing it or it being tied up somewhere. stuck it in a high yield savings account at like 4.5% and i can pull it out in a day if i need it. feels way safer than stocks or even a CD since you never know when life hits. plus seeing that interest hit every month is kinda satisfying ngl.

taylor9293d ago

see i gotta push back a little on that. the thing is 4.5% might feel good now but inflation is still running hot and that rate could drop fast if the fed cuts again. you're basically losing buying power over time even with the interest, especially once you factor in taxes on that gain.