Is money market fund safe for emergency fund?
Hey all, I put about 3 months emergency money in VMFXX vanguard money market fund, rest 9 month emergency fund in tbills (maturing in the next three months) Considering the potential US default, wondering if this is safe? And what would be the safe options for emergency fund? Thanks! TC 350k
I have seen other folks also invest emergency cash in tbills. So how much do you keep in your checking account for everyday expenses like groceries, memberships, car payment etc?
i put 2-3 months expense in saving account, the rest in money market funds
This is where my emergency fund is too and it has worked beautifully for me (especially with the almost 5% interest rate)
Thats not emergency fund... thats investment. You better put them in savings account.
What’s your definition of safe and emergency? Personally, emergency to me means cash. Assume a major earthquake and no communications or electricity for days.
Same. My definition of emergency fund means cash in my account that I can withdraw anytime. If you invest that, that's investment not emergency fund then
Assume a major earthquake and no communications or electricity for days. That’s cash under the mattress scenario