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.

  • ganksy@lemmy.world
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    1 year ago

    SoFi has 4.50% Apy on a checking/savings account. Not too shabby for FDIC insured.