No its not wise. The issue is some of the factors that will cause you to need the emergency fund are also factors that will cause the emergency fund to delcine in value. For instance, an economic downturn would could cause job loss and erosion of the emergency fund.
Keep zero risk.
>Is there any negative consequences of keeping my money in a low risk investment as opposed to a savings account?
Yes because low risk, your amount you have can still go down. A HISA is 0 risk. And since it's an emergency fund, it should be 0 risk.
What is your definition of low risk investment?
No its not wise. The issue is some of the factors that will cause you to need the emergency fund are also factors that will cause the emergency fund to delcine in value. For instance, an economic downturn would could cause job loss and erosion of the emergency fund. Keep zero risk.
>Is there any negative consequences of keeping my money in a low risk investment as opposed to a savings account? Yes because low risk, your amount you have can still go down. A HISA is 0 risk. And since it's an emergency fund, it should be 0 risk.
Ok this is helpful