Let’s face it, we all have a slush fund that is put aside for an emergency, and rather than keeping a lot of cash under your bed, there are safer, and indeed, more profitable ways to stash your rainy-day funds. Here are a few ideas on how to keep your emergency funds.
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A High Interest Bank Account
While this might seem like a wise move, you need to be sure that you have access to the money at short notice, and this will rather limit the options if you want to leave the money in the bank. Most high interest accounts require a 90-day notification of withdrawal, and that is too long if the money is needed for an emergency.
Safety Deposit Box
You could always keep your fund in dollars, and store it in a concealed safe, or better still, in a safety deposit box. This means you have access to your money during regular business hours, which is a comforting thought.
Gold Bullion
This is the preferred method for many investors, as gold is always a sound investment, and you can check the gold bullion price at any time by using an online dealer. Many investors keep some reserves in gold bullion, as it is easily turned into cash, should you ever need it. Indeed, you might actually get a great ROI while leaving your emergency money in gold bullion, and many investors seek to put their money into gold whenever currencies are volatile, and if the timing is right, you could make a significant profit. Gold is internationally recognised and accepted, and of all the methods to store your emergency funds, gold bullion offers the most benefits.
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Gold Coins
Like gold bullion, coins are a great way to store your emergency money, and by talking to an online gold bullion dealer, you would have access to a wide range of gold coins. The coins can easily be turned into dollars if the need arises, and they are an appealing alternative to gold bullion. Gold coins offer a solid investment, not just for emergency funds, and many astute investors include a few gold coins in their portfolio. With online gold bullion dealers, you can quickly convert the coins into cash, should you ever need to.
Bitcoin
It might be a risky investment, with the previous year being a roller coaster affair, but you can very easily convert Bitcoin into dollars. All the signs are there that the number one digital currency will hold its own this year, and with more and more people using it as a payment gateway, things could be looking up. Finding a Bitcoin dealer is never an issue, as a Google search will lead you to a respected Bitcoin dealer, and you can buy and sell online for next to no cost.
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It is essential that the funds we put aside for an emergency situation should be available at very short notice, and of all the above possibilities, gold bullion offers the investor a solid asset that can be turned into dollars in an instant.
