Using a mutual fund for an emergency fund
I was wondering what everyone else thought of the idea. I've read here and there of other people doing it and it makes good since to me.
I currently have 10% of my pay going into TSP (Active Duty Navy) and I have a ROTH IRA. I don't want to keep more than a couple thousand in my HSBC account and have been thinking of using DODFX or CGMRX as a potential emergency savings fund in addition to a regular investment fund. I have a credit card that could pay for any major expense (over the amount in HSBC) immediately, then I'd just sell a little of my holdings in the fund to pay off the card.
Thoughts? Anyone have some good funds they would recommend in addition to the couple I've mentioned? Thanks in advance.
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