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That emergency fund can be structured depending on what your needs are likely to be. For example, some mutual funds allow check writing. If you usually have some balance in your checking account to cover you for 2-3 days and some emergency room on your credit cards, you can put your day 4 - 90 money into a relatively conservative bond fund like a GNMA fund. You take some interest rate risk, but you will get higher returns. Otherwise, passbook savings account or money markets are probably best. I use tax free bond funds for this purpose.

Do start working on Roth IRA and 401K as soon as you can.
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