Personal Investments • Stupid questions on mechanics of money market account for emergency fund, and also Treasury Direct

I’m considering moving most of my emergency fund to a money market account and have a few question on how does it actually works please.

1. I use Chase as my checking account, so would I open an investment account at Chase, and then purchase a money fund there?
2. If I do want to liquidate it for a large purchase, how quickly can I get the money, can I quickly transfer the money from the investment account back to checking?
3. Since I believe this is an investment account, would I get hit with any type of capital gains (or other) taxes for taking money out of it?
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Part two. I also have a Treasury Direct account and have some iBonds that I like for their flexibility, because after the one year lock up, I can liquidate them at any time and get all the money in 1-2 days. I think it is time for me to liquidate the iBonds because the rate has gone down (I bought them at 0% iBond rate when inflation was high). Might there any type of treasury that might fit my need, where I can sell it quickly if needed? I’m okay with an initial lockup, like the iBonds had, I could move the money in over time.

Thank you very much.

Statistics: Posted by N00bWhale — Wed Sep 04, 2024 6:40 am — Replies 14 — Views 849

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