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advice on replacing my savings account
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liquid cash (emergency, rainy day fund) should be safe from a loss in value.  mutual funds don't give you this, especially stock funds.  you can find "high yield" savings accounts that are now at around .8% to .9% apy which is much better than .05% and will hopefully go up.  barclays us and american express are two big banks that normally have the highest rates. most/all savings and money market accounts should be fdic insured.  mutual funds are not, though the investment ira, etc. holding them may be.
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