Hi Opher Ganel great points. On the point of not needing actual accounts for each saving goal, I agree. The only reason I have separate accounts is that I pay no fees for these accounts.

On the investing the emergency fund issue. I think my main concern is that for many it’s not possible to predict when you’ll need that cash, it’s kind of like trying to time the market. Easy on paper, difficult and costly in practice.

The other part is there is a high correlation for many between investment returns and job security. If the economy goes into a major recession two things increase in likelihood:

  1. Your investment Plummeting
  2. Losing your job

I see your arguments and I might be a little too conservative on this issue but I personally resist the temptation to invest my emergency funds.

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