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My buddy at the credit union made me rethink my whole savings setup
Had a beer with my friend Mike last night, he works at a local credit union here in Denver. He straight up told me I'm losing money by keeping my emergency fund in a regular savings account at a big bank. Said I should have it in a high yield account through a broker instead, something about the difference between 0.01% and 4.5% APY. Honestly, I never even thought about it before. I've been with Chase for like 8 years just out of habit. He showed me on his phone how much interest I could be making on my $15k emergency fund. That hit different because it's literally free money I'm leaving on the table. Anyone else make the switch from bank savings to a broker's money market or HYSA and regret not doing it sooner?
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