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A recurring theme around ModMoney is the importance of saving early to build wealth. The ability of time to exponentially grow your nest egg is a real thing!
Most of us already save through a retirement account like a 401(k) or a Roth IRA. But your savings should not stop there! Since you can't withdraw from these accounts until retirement, you need to have savings you can access today in case of unexpected events. What if you lose your job? Or your car needs a new battery? Or your AC breaks in the middle of summer? That's where your rainy day fund comes in. But how much should you save, and what are the best savings accounts for your emergency fund? Here's everything you need to know.