Personal Finance

3819 readers

1 users here now

Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!

Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)

founded 1 year ago

MODERATORS

[email protected]

Anyone think that a site like Wealthftont is a good place to stick an emergency fund? (www.wealthfront.com)

submitted 1 year ago by [email protected] to c/[email protected]

9 comments fedilink hide all child comments

A buddy of mine told me about Wealthfront recently and they’re 5% money market account rates.

Growing up in a world where savings accounts and even CDs never approached more than 2%, the rates on this new thing blew me away.

Free money is great, and I’d love to take advantage of these rates, but the only cash I have currently is the emergency fund I’m trying to build.

Anyone have thoughts on if putting an efund in this kind of service is a bad idea? Not sure if it’ll be liquid enough if a major expense comes up.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 6 points 1 year ago

I put my entire emergency fund in wealthfront. It was just sitting in a savings making nothing otherwise.

I really like Wealthfront's automated savings, and their website is top notch. Very easy to use and navigate.

I've been using it for a year now and already signed up 3 people. Been nabbing that extra % when I can.