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.