What’s the safest place for retirees to keep an emergency fund?

If you have retired from full-time work, or will soon, it’s important to have enough liquid assets to keep you from drawing down your portfolio in times of market turbulence. “It keeps you calm and steady in times of market volatility,” says Daniel Lee, director of financial planning and advice at BrightPlan, a financial wellness benefit provider based in San Jose, Calif. “The cash protects your investment portfolio from having to sell something at an unfavorable time.” There are actually two types of funds to help you stay financially secure: a rainy-day fund and an emergency fund, the first smaller than the second.


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