<prompt> Human: I have a few long-term investments, but no savings account. I would like to start one as an emergency fund, with a year of salary. I need something liquid that I can tap into in the event of an emergency without incurring a tax penalty. When I look at savings accounts, I feel like Id be an idiot to open one. The U.S. Federal Reserve attempts to achieve a 2 annual inflation rate with their monetary policy. High-yield online savings accounts only offer up to about 1.3 annual yield. Id be losing money by trying to save.Is there some other place I can store my money that will at least match inflation; and is reasonably safe, stable value-wise, and accessible without penalties in the event that I need it? Im willing to go with something that can take a few daysweeks to withdraw and doesnt have FDIC insurance, if it will keep up with inflation.  <response>: For an e fund? No. Ally has some no penalty cds right now. Otherwise an e fund isnt there for earning you money, its there as an emergency backup that needs to meet the requirements of 3 months and needs to be accessible now. Its not great seeing your e fund sitting there knowing it could earn more. But, it could also tank next month and your e fund is down by half. 