Does this mean I&#x27;m better off not having any money in a savings account (except perhaps 1 month&#x27;s expenses or so) and putting that money in stocks and bonds? I&#x27;ve been thinking recently of moving (part of) my 5-month emergency fund to intermediate term muni bonds (VWITX specifically). But I&#x27;m not sure if that&#x27;s a good move.