@toesockshoe Emergency money? That’s the money you shouldn’t invest. Put it on the bank or in a safe at home.
I have a 10k fund emergence where do i save it?
- Thread starter toesockshoe
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bulletproof3
New member
@toesockshoe In your checking account.
You shouldn’t be concerned at all by yield when it comes to your emergency fund. You need to park it in the place you have the fastest permission-less unhindered access to it. Anytime anywhere. It is called ‘emergency’ for a reason.
If you compromise it’s main purpose of saving you in case or trouble just for gaining another 100 or 200fr per annum… well it is no longer an emergency fund anymore.
I guarantee you that when shit hits the fan (and it will certainly happen sooner of later) having access to your funds 1 day or 1 week earlier will be worth all the yield you could have accumulated over many years.
Now if you can get some interest, let it come. But do not compromise.
You shouldn’t be concerned at all by yield when it comes to your emergency fund. You need to park it in the place you have the fastest permission-less unhindered access to it. Anytime anywhere. It is called ‘emergency’ for a reason.
If you compromise it’s main purpose of saving you in case or trouble just for gaining another 100 or 200fr per annum… well it is no longer an emergency fund anymore.
I guarantee you that when shit hits the fan (and it will certainly happen sooner of later) having access to your funds 1 day or 1 week earlier will be worth all the yield you could have accumulated over many years.
Now if you can get some interest, let it come. But do not compromise.
@toesockshoe I chose the 1% interest account at Yuh for this.
@toesockshoe Used to keep mine in my Neon account (0.9%)
For now I moved it to Alpian, where I get 1%, because they have a promo where you get 18 months of no account fees and 100 CHF gifted
For now I moved it to Alpian, where I get 1%, because they have a promo where you get 18 months of no account fees and 100 CHF gifted
@toesockshoe Zak, neon or Yuh. Open your account in minutes and transfer the money, done.
pitterricherd
New member
@pitterricherd Reddit being Reddit. IDK.
@toesockshoe Credit Suisse. It's nöt mötsch, böt...
@toesockshoe Flexible Isa, something like Zopa, build it up and in emergencies withdraw out, put back in when you.can. Over time you can keep building with no stress of long term lock ins.
Best case can move some to stocks and shares when over your minimum emergency requirements. Diversify!
Good luck and having 10k emergency is amazing work. Be proud
Be careful and be bold when you can.
Best case can move some to stocks and shares when over your minimum emergency requirements. Diversify!
Good luck and having 10k emergency is amazing work. Be proud
Be careful and be bold when you can.
blacksabbath
New member
@toesockshoe UBS/ZKB/CS
iamlearning
New member
@toesockshoe I’d convert to USD and put in a US HYSA like Marcus (Goldman Sachs). Current rates are 4.5-5.5%
@toesockshoe Cembra.ch offers 1.6% interest and withdrawal limit is 20k every 6 months. So 10k can be withdrawn anytime.
whidbyministries
New member
@toesockshoe WiLLBe
amitruly_saved
New member
@whidbyministries Dropped to 1.05, for that better to put it in Yuh at least you can pay right away instead of transferring it from that Liechtenstein account
angelsoverme
New member
@amitruly_saved Still 1.3
@amitruly_saved edge deer rain cobweb desert fine homeless safe absurd far-flung
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alanstranger1
New member
@toesockshoe InteractiveBrokers give 0.86% with >= 10k CHF
https://www.interactivebrokers.com/en/accounts/fees/pricing-interest-rates.php
But I'm not sure you can use it just for that without investing per their ToS
https://www.interactivebrokers.com/en/accounts/fees/pricing-interest-rates.php
But I'm not sure you can use it just for that without investing per their ToS
@alanstranger1 This is not true.
IBKR pro will give you 0% up to 10'000 CHF and 0.864 % for 100'000 CHF. From 10'001 CHF to 99'999 CHF they apply a "blended" interest, calculated proportionally to the amount of capital you have in the account. For 1 CHF above the 10'000 cut, for example, the interest is 0.096%. Consider you have to add the fees for the Pro account.
OP, most of the high savings account with no or limited restrictions will yield 0.8 % to 1.2%, while for anything above that you'll need to lock in the capital.
Personally I suggest Swissquote invest easy packet: no fees, 1% rate from 1 to 50'000 CHF, up to 25'000 CHF/m withdrawal limit. But you can likely find similar deals in other banks/brokers.
IBKR pro will give you 0% up to 10'000 CHF and 0.864 % for 100'000 CHF. From 10'001 CHF to 99'999 CHF they apply a "blended" interest, calculated proportionally to the amount of capital you have in the account. For 1 CHF above the 10'000 cut, for example, the interest is 0.096%. Consider you have to add the fees for the Pro account.
OP, most of the high savings account with no or limited restrictions will yield 0.8 % to 1.2%, while for anything above that you'll need to lock in the capital.
Personally I suggest Swissquote invest easy packet: no fees, 1% rate from 1 to 50'000 CHF, up to 25'000 CHF/m withdrawal limit. But you can likely find similar deals in other banks/brokers.
jesusfreak1814
New member
@toesockshoe Buy physical gold or silver
Made 15% in the last 18 months.
Gold is as liquid as cash.
Buy only from serious dealers.
My favorite philoro.ch
Made 15% in the last 18 months.
Gold is as liquid as cash.
Buy only from serious dealers.
My favorite philoro.ch
@jesusfreak1814
No it's not. You have obviously never tried to buy a pack of chewing gum, a train ticket, or a car with gold!
Also, the gold price is volatile. That's not what you want for an emergency fund.
No it's not. You have obviously never tried to buy a pack of chewing gum, a train ticket, or a car with gold!
Also, the gold price is volatile. That's not what you want for an emergency fund.