You may want to rethink where you put your emergency cash amid rising inflation

You may want to rethink where you put your emergency cash amid rising inflation

As inflation pushes prices on everything from higher, your emergency cash could be in danger of losing value. Persistently likely will not keep pace with surging costs. Rapid inflation may continue for several months, Treasury Secretary Janet Yellen said in a , while other experts see rising prices . In the meantime, you may want to re-evaluate where your emergency cash is deposited. "With cash, if it's intended for something like an emergency fund or a short-term expense, it needs to be kept safe," said Ken Tumin, founder and editor of DepositAccounts.com. "Stocks or bitcoin or other types of investments are not appropriate for it." Here's a look at other stories impacting portfolio planning and retirement saving: When it comes to storing your emergency fund, there are generally a handful of options: certificates of deposit, checking accounts, savings and money market accounts, and savings bonds. Each offers potential benefits and drawbacks. Savings bonds Investing in I bonds offers a particular advantage in today's environment because they are indexed to inflation, according to Tumin. Unlike some other investments, I bonds allow you to defer federal taxes on the money until you redeem them or they reach their 30-year maturity. However, there