Share your insights or perspective on the financial matter presented in the input.

How much money should I lock up in my savings account?
One issue which I don't see addressed in the answers so far is how to structure bank accounts to get the highest return possible. What you're describing sounds like a certificate of deposit (CD): 'ranging from 1% for 9 months to 2.3% for 5 years' There is a concept which was once more common called a CD Ladder, which still allows you to access your money, while also giving you the highest interest rate offered by the bank.   To set one up you divide your account into 5 equal parts, then open 5 CDs with different periods (1-5 years).  Each time a new CD matures (once a year), you purchase another 5 year CD with those funds, plus any new money you want to save.   Thus you're getting a higher and higher rate, until all of your accounts are earning the 5 year CD rate, and you're never more than a year away from getting money out of the account if a need comes up.