Everyone is different but I refuse to keep 10-15k sitting in a cash account. I keep my EF invested in single stocks with well established companies and I set a stop loss, so if one tanks, I get out in time. My "cash" account has earned me 8% this year by doing it this way.
If anything that catastrophic hit, I have 20k limit on my credit card, wich I would use during the three days it would take my stock accounts to be ready to liquidate/transfer.
I've also kept cash sitting in a money market and most would say this is a better idea, but I follow my stocks closely and have never been burned, mainly because I don't get greedy with it.
This obviously doesn't include the grand or so extra in our checking account for incidentals.
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