Is an Emergency Fund necessary?
We’ve all heard the personal finance truism: Keep three to six months of living expenses in the bank just in case. But do folks pursuing Financial Independence and Early Retirement (FIRE) really need an emergency fund? Originally the emergency fund was conceived in response to the all too common cycle of debt and poverty. People who scrape by, living paycheck to paycheck, can be utterly devastated by an unexpected one time expense. But we’re not...