I know this is an old post, but I'm considering this and wanted to bump this thread to see if anyone is currently using this strategy.
Right now I have $8,000 in checking and $10,000 in an Ally account earning 1.45% interest. I also have about $5,000 in an HSA, and that goes up about $400/month via direct contributions from my paycheck.
So I have the checking, savings, and HSA; and then we have about a $14,000 line of credit; and then we would have about $11,000 in Roth contributions as the final backup. This seems to be plenty of cushion, and if shit really hit the fan, we could stop auto contributions and probably replenish pretty quickly.
Any thoughts?