Have 50k in a checking account at a local bank getting no returns. I like having liquid assets since I support currently myself & girlfriend and any unexpected expenses my mother & younger brother have. Any advice how to calculate what I should keep on reserve vs. invest + learn about consequences of pulling investments early (more tax, fees, etc.). I feel like the inability to access funds when my family needs it has been the reason I haven’t invested outside of 401k and have this cash reserve

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Marcus savings account is offering 3% apy and you can stay liquid.

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You should dump that 50k in an Ally Savings account. You can set up an Ally Checking/Savings online and it is currently returning 3%. That’s where I have my cash and agree that it’s good to have a portion of money that you are free to access.

likesmart

I put mine in Marcus. It was offering a 4% rate for referrals for 3 months and 3% after. Starting earning interest from Month 1 and felt good. DM me if you need a referral

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Sofi. 3.25% interest which is one of the best. FDIC insured and fully liquid. Plus you get $25 cash bonus for signing up with referral and $250 cash bonus for connecting direct deposit. Best deal out there right now. You also get paychecks 2 days early which is nice.

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Treasury Bills, HYSA or some penalty free CDs.
ibonds' would typically be for long term investing, plus I don't really recommend it.

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6 months expenses plus a 10K buffer should cover.
If you are a U.S. citizen buy iBonds, they offer 9% return.
Move the rest into local credit union, they are offering 4.15% for a 12 month CD

You can ladder in i bonds every q

I would put the entire amount in a Wealthfront HYSA at 3.8% right now, no need to deal with the short term rate and referral train needed for Marcus. Lmk if you want a Wealthfront referral.

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