it depends on when in 2020 you start counting. If it is on Jan 2, the DOW value was about 28,700. If you start on March15th it was about 18,730 and if you start on May 15th, it was about 23,200. Covid had a huge impact on market values in 2020. So if you look at the pre-covid impact value in January, the market today is up about 40%, not double, which is a return of ~8%/yr.
And if you look and the 10-year historical trend, the market may a little high, but is right about where it should be on that trend line.
The DOW was at about 10,940 in Jan, 2000. 24 years at 6% interest is ~ 44,465. So the average rate of return over that span is actually only about 5.5% not 6% as I estimated before. As I said, some old savings accounts, used to pay close to that.
Of course, they pay proportionally less in interest so even if you are in the higher tax brackets you will still be lucky to break even with inflation.
I use a wealthfront online savings account for my emergency fund money. It is currently paying 5.5% interest which is nice for money i dont want tied up in investments.
Still fdic insured and very easy to transfer money ive been happy using them.