<prompt> Human: A post I made here from a throwaway account resulted in my plan for some money Im receiving, which is to pay off a couple of debts and then save the remainder of this portion as my emergency funds - around 5 months worth ;and I wont be taxed on it. But, as Im planning to save it and not touch it unless an emergency comes up, Im wondering if its best to simply leave it in my savings account or do something else with it. I have a 401k, but if I put it in there and DID have an emergency and need it Im only 21, Id be taxed heavily on it. If I bought shares with it that are stable just for the gains, Id be taxed if I needed it at any point and sold those shares, which would mean Id be spending money unnecessarily then too. But, as far as I know, my savings account with my bank doesnt have any significant interest rates. Is it best to simply leave it in my current savings account? Or should I see if theres another bank that has a better interest rate to save this in? Is that even a thing? Any advice or suggestions is much appreciated. Thank you!!  <response>: Put it in a Roth IRA. If you really have an emergency you can pull out all your contribution tax and penalty free. And at least it will be gaining interest until said emergency happens, if ever. 