🛡️ Free Tool

Emergency Fund Calculator

Find out exactly how much you need, and how to get there.

Your Monthly Expenses

Housing (rent/mortgage) $/month

Food & Groceries

Transportation (car, gas, transit)

Utilities & Phone

Insurance (health, auto, renters)

Minimum debt payments

Other essential expenses

Job Security (months to recommend)

Current Emergency Fund ($)

Monthly Savings Contribution ($)

Monthly Expenses

Target Fund

Time to Goal

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Progress0%

Current: $0Target: $0

Where to Keep Your Emergency Fund

Your emergency fund should be in a high-yield savings account (HYSA), not in investments, not in a regular savings account paying 0.01%. In 2026, top HYSAs pay 4–5% APY, meaning a $20,000 emergency fund earns $800–$1,000/year risk-free while staying instantly accessible.

Top HYSA options: Marcus by Goldman Sachs, Ally Bank, SoFi, or Fidelity's SPAXX money market fund (similar liquidity).

Never invest your emergency fund in the stock market, if you lose your job in a recession, the market is likely also down 30–40%, turning a cash need into a forced loss at the worst time.

Once your emergency fund is set, start investing

A fee-only financial advisor can help you build a tax-efficient investment plan once your financial foundation is solid.

Find a Fee-Only Advisor →