One common advice for personal finance is to alway keep 3 to 6 months of salary in a savings account for an emergency. This money has to be liquid and not tied to any investment like stocks, crypto or even a GIC. Just a good old fashioned savings account with enough money in it. The problem is that in the age of money printing interest rates for savings accounts in Canada and the US (and I suspect many advanced economies) are near zero while inflation is picking up. Keeping money in a savings account is a losers game.
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