One of the most popular posts I’ve written on this blog is a post I wrote some time ago about how I’m able to put away as much as $50,000 in FDIC insured savings accounts that earn a guaranteed 5% interest. It’s far and away my most commented on post, garnering well over 500 comments […]
Most people don’t believe it, but even in today’s market, you can still earn 5% interest on money sitting in an FDIC insured savings account. It does require a little bit of legwork to set up, but once you’ve done it, the entire account is completely automated.
For most people, a 5% interest savings account is a perfect place to store your emergency fund. It’s where I store my emergency fund. And depending on how much you like to keep in your emergency fund, you could potentially have your entire emergency fund earning 5% interest per year.