I'm curious how folks here think about emergency funds. How do you personally calculate what is the right amount to keep there? What are the possible emergencies you're imagining?
I'm asking in part because, now that I have more money in taxable investment accounts, I find myself being a bit cavalier about the emergency fund-- I think really big emergencies are unlikely (I rent, so not on the hook for sudden plumbing disasters, and my job involves multiple streams of income from different clients, so they're not likely to all dry up at once) -- and I tell myself that if I need to, I can just pull invested money out, since there's a buffer there even with a market drop, and that most likely I won't so it's better off growing. (I, uh, basically shoved my whole emergency fund into the market during the last drop, since I knew I had other income on the way.) Is this the wrong way to think about this? How do other people think about it? Thanks.