This week two readers asked for tips regarding the best place to keep an emergency fund. Frankly, I don?t have much to say on that topic, as we don?t do anything clever with our own emergency fund. Half of it is in checking accounts at Bank of America* that pay no interest at all, and the other half is in a Roth IRA in Vanguard?s Short-Term Treasury Fund.
So I?m curious: For those of you with designated emergency funds, how are they invested? [Technical note: If you're comfortable sharing publicly, I'd encourage replies via the comments section on this post rather than via email. That way other readers can benefit from the information.]
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*I know Bank of America isn?t popular, but we?ve actually been very satisfied with them ? far more so than with either of the two local banks we tried. Part of that satisfaction though is due to the fact that the payroll service that?s integrated with their business checking is both excellent and inexpensive. For people without such a need, I?m not sure Bank of America would be the first bank I?d recommend.
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