If you’re under 30, full-time job, no looming debts, no kids, then the 6 months can really be 3 months or around $10,000. If you have a partner, you are even more secure. Remember this is a figure derived from very conservative financial commentators who assume you have a linear college and job progression (which is rarely the case). Even a 1 month savings buffer will save you for 90% of the unexpected expenses.

If you’re in your late 50s, finding a new job will be tough, especially if you are laid off during a recession. In that case a generous buffer beyond 6 months would be good.

Either way, having savings is a good thing. Yes you will miss out on those “epic Bitcoin gains”, but once you have made an emergency savings buffer, then you can really knuckle down on contributions to retirement.