How do I keep my emergency fund from losing value while it sits unused for years?

Accept that an emergency fund's job is safety, not growth — but you can still protect it from quietly bleeding to inflation. The simplest step is making sure it earns a competitive, low-risk yield rather than sitting in a near-zero account: a high-yield savings account keeps it fully liquid and insured while at least partly keeping pace. If you've already got a robust cushion and want the deeper layers to fight inflation harder, I-bonds are designed for exactly that — their rate adjusts with inflation — and T-bills or money market funds can hold a slightly higher-yielding tier. Keep the first few months instantly accessible and only push the surplus into these tiers. Just don't reach for stocks to "beat inflation" with money you might need next month; that defeats the purpose of the fund.