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[quote=Anonymous]I consider myself to be a financial planner even though I have another career. I always read about the need for a 3-6 month emergency fund and I completely disagree with all experts on this matter.  I am wealthy now, but even when I was poor, I never kept an emergency fund. It never made sense to have money earning so little interest.

There are so many different ways to get money if needed:
1. HELOC 
2. 401K/TSP
3. Family and friends
4. Credit cards (I always pay off the entire balance, and my credit limits are much higher than I need)
5. Cash value life insurance policy
6. Mutual funds, stocks.
7. Sell an investment property
8. I am a federal government employee which means my job should be more secure than others. 
9. My profession is in demand so the chances of an extended unemployment is quite small.
10. I am wealthy enough to retire today if I wanted to.

Almost everyone on DCUM could rely on at least 1 of the above. All 10 apply to me. If none of those things above apply to you, then perhaps you need an emergency fund.

Suppose I had $60K in a savings account vs. $60K in a mutual fund or investment property the past 20 years. The extra interest/dividends/rent/capital gains would be a HUGE amount! So I have never had a savings account and I keep my checking account as small as possible.

Does anyone agree that my approach makes more sense?[/quote]

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