Many are always advising younger investors to set up their emergency fund first before investing anything. I am one of those.
Anyone with the ability to invest in the markets also has the ability to have set up a emergency fund or a savings fund .
Call it whatever you want but it needs to have cash money available within 48 hours. I have always thought one should have 5k set aside as cash for every 50k invested and more as one ages.
Now , those that need to leave their market investments alone for recovery, or are facing layoff or terminations will have funds to draw from. Emergency funds are critical. Now you know if you didn't before.