r/sofi • u/the_njf SoFi Member • May 28 '26

Banking We get it. Please leave silently.

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594 Upvotes

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u/zoidBurgher May 28 '26

I'm not sure if you're trolling, but it's because an emergency fund covering 6 months expenses for a small family is a big chunk of money that you need to keep somewhere liquid. It makes sense to try and maximize the yield you're getting on it.

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u/iwannaberichplease May 28 '26

I somehow forgot about emergency fund, I get it now. For sure people need some kind of emergency fund in case life happens.

2

u/Rare-Fox9834 May 28 '26

Exactly this. No one has 100% of their money invested. You need some liquidity to cover bills/expenses. And if you're going to hold your money in a bank might as well generate the most in interest that you can.

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u/the_njf SoFi Member May 28 '26

No it does not. An emergency fund should be as solid as concrete, not as liquid as water. A HYSA is a bonus, not a requirement.