New to the forum, but interested in some advice on what to do with out emergency savings fund. I'm 30 years old and been married 1 year. We've built up a $20k emergency fund that I'd like to keep safe for a rainy day (layoff, medical expenses, etc.).
We currently just have the money in our M&T savings account that is linked to our free checking. I don't know the interest rate, but it might as well be 0%.
I'm wondering what other people have done with emergency funds? I feel that keeping it in our normal savings account is wasting potential investment money. Should I just find the highest yield online savings account and throw it all in there? Rotating CD deposits? Safe stocks
Obviously it should be something that we can access the money should we need it, but want to put that money to work for us as well. Thanks for any suggestions.