I’m the uncle, and will be the one in charge of maintaining whatever we end up deciding. Neither my father nor I have any faith that my sibling will have the financial ability in a decade+ to help buy the first car. Much less any amount of emergency fund when those needs arise.
He’s leaving behind life insurance, but feels like that may get squandered away quickly. If it is known about, it’ll probably get spent. That’s just how my sibling and mother are. But grandchild doesn’t deserve to pay for his parents mistakes. No drugs, just poor financial choices.
So, what’s the best way to put together an emergency fund that is minimal risk, but still beat inflation? We need something that we can both put money into and access.
