I’m gonna keep this short to make sure the message is received.
If you are keeping a meaningful amount of cash at a big bank, you are throwing money out the window.
Wells Fargo, Citi, BofA, Chase, etc are paying 0.01% interest on their savings.
Meanwhile, Ally, PNC, Capital One & Wealthfront are paying 3.4%-4.0%.
If your emergency fund is $100,000, that’s $4,000 you’re wasting.
(And Financial Zen Masters don’t waste money!)
So double-check what your savings account is paying and move it if you’re not getting at least a 3% interest rate.
