Most Americans don't have $1,000 in a high-yield savings account that they consider an emergency fund. Therefore, saving $30,000 to $60,000 in a HYSA seems daunting.
The good part is we can take it one step at a time. Let's first get $1,000 into a HYSA. Next, we must pay down debt.
Here, I differ from conventional wisdom by building an income investing portfolio that can help grow our emergency fund.
When we go to work and save, we use no leverage. When we go to work, and our income works for us, we can get there twice as fast.
The ultimate goal of an emergency fund is to give you the confidence to live the life of your dreams. You can get there with financial education, discipline, and grace. Good Luck!
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