Kudos on building all those layers of financial safety James.

I agree with you that nothing of all this is possible as long as someone spends everything they make (or more).

I also agree that having resources to cover emergencies (and a car breaking down or a kid needing several cavities filled isn’t an emergency, that’s just life happening). Indeed, the oft-quoted 3–6 months of expenses are woefully insufficient for some, as I wrote in a separate article that I link into in this one.

What I was after here was to show that for many, keeping tens of thousands of dollars in ultra-safe accounts is not needed and not wise.