[perl4ever]

Talking about a large cash emergency fund seems to me like a suggestion handed down from 50+ years ago. Why wouldn't a middle-income American these days just keep a minimum of ~$500-$1K in a checking account to prevent overdrafts and use a credit card if something unexpected happen? Over time, if you have a steady job in the $40-60K range, you can build up credit to the point where you have access to more than a year's income just via credit cards.

Is this "paycheck to paycheck" or not? If you have >$4K in checking at some times in a month, because you just got paid and you haven't paid your credit card bill, that's not technically an emergency fund, right?

I endorse your point that since there are people at all income levels who spend all their income, there's an inductive argument that nearly everyone can save.