Some people don't need an emergency fund, not the traditional kind anyway. My emergency fund is a line of credit. Years ago I had someone I used to work with ask me about an EF. She had had $25k in an EF for 25 years. I calculated that she had lost tens of thousands of dollars in growth because she and her hubby had never touched it and probably never will. Both had very secure jobs and were very credit worthy. Some people are way better off putting the money into an RRSP and using the LOC instead. As I said, this is for some people, not for everyone. It depends on several factors.
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