: How to manage k in Savings? I have around k in savings that I would like to be able to use without penalties. The money is already in a 1% interest money market fund. How can I invest a portion of the money without

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In today's market being paid 1% for risk and free access money is pretty darn good. If 50k is what you feel comfortable with an emergency fund, then you are doing a fine enough job.

To me that is a lot to keep in an emergency fund, however several factors play into this:

My kids are grown
My wife and I both work, and are our pay is close to equal.
Both of our jobs are pretty secure
My expenses are very low. (I could probably make 50K last 18 months with no other income.)

We both drive older cars, so I also keep enough money around to replace one of them.

Considering all that I keep a specific amount in savings that for me earns .89%. Some of that is kept in our checking accounts which earns nothing.

You have to go through some analysis of your own situation and keep that amount where it is.

If that amount is less than 50K, you have some money to play with. Here are some options:

Laddering CDs - earns a bit more, still very little risk
Bonds
Preferred Stock (like bonds)
Dividend paying investments (dividends tend to stabilize prices)
Index funds (Tends to be a low turnover of investments minimizing tax events)