For those that are interested in something less risky than a 60-40 mutual fund, consider a tax-free municipal bond fund. Although they have been a little volatile lately they are generally stable, earning 3-5% a year tax free. This is equivalent to earning 5-7% in a taxable account. I am using MUB, an municipal bond ETF. I have half of my EF in this (3 months worth).
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