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"Investments, if you have enough of them, can also be used as a efund. It may mean you have to lose money when you sell at an inopportune time, but that's not the same as not having any savings or access to money, which the original article did seem to hint at."

I agree. I don't even have a savings account and don't ever intend to. I have just enough in my checking account to cover expenses for a month. Everything else goes into my investment accounts. Personally, I would consider putting money in a savings account to be riskier than putting it all in my investment account. In a savings account I'm guaranteed to get a horrible return. Long term, my investments are almost guaranteed to earn significantly more than a savings account. Short term, there's more volatility, but that's what credit cards and margin are for.

If I do get hit with some "emergency" I'll either use a credit card or write a check with my investment account on margin. The fact that margin is available means I won't ever have to sell at an "inopportune time". It just means I might not be able to load up on as much stock if my "emergency" happens to coincide with a stock market crash.

As for the subject of the post, it should be "$250,000 per year and still a moron" because it's not possible to earn that much and be broke unless you're an idiot with your finances.
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