<prompt> Human: Everyone on here seems to swear by the need for an emergency fund, but it just seems wasteful to me. The FAQ suggests putting 3-6 months worth of expenses in an FDIC-insured checking or savings, which for me would be in the 10s of thousands of dollars. Thats a lot of capital to let sit doing nothing!I dont have an emergency fund. I have no savings account, and I spend or transfer funds out of my checking to below 1k every month.Instead, I have the following:A stable job, under 6 figures not union, but stable.wife also has a stable job, making about 13rd our money10s of thousands in mutual funds and ETFs I could liquidate on a days notice. I consider this my savings account10s of thousands in IRAs I could liquidate on a days notice.10s of thousands of unused credit available any timemodest 401k and pension fund I could liquidate under dire circumstances, would probably take a week or more.assets: about 40 equity in my house, 10k car, 5k motorcycle.I just dont see that Im really in any danger. Worst case scenario would be I lose my job, AND the stock market crashes. Even if both happened I could probably survive off unemployment, the remnants of my investments, and my credit, for years. Am I the only one that thinks it would be crazy to divert my entire brokerage portfolio into an almost-no-interest savings account just for additional peace of mind? I admit that my choice to have zero traditional savings is a bit extreme, but certainly letting 20 grand sit around doing nothing is just as extreme --so why do we constantly recommend it?  <response>: I had a stable job once... then I got laid off. 