How much Research?

How much time should you spend researching a high yield savings account for an emergency fund?

It depends on the rates you’re comparing.

Example: Putting in $10k at 4.45% vs. 4.46% is not worth obsessing over, in my opinion. It’s a $1.04 difference after a year. Just pick one.

However, comparing 4% vs. 5% with $10k is a $100 difference after a year, so a little research is probably worth it.

Run the numbers quickly to see if it’s worth your time and effort.

Especially if you are comparing an account with a reputable bank with one that may not be FDIC insured, or is inconvenient. It may not be worth your research.

P.S. This is based on this week’s article in The Voice of Lakewood, coming out Sep. 5 and available online.