Emergency Fund Planning Core Concepts Rule of Thumb - Employed with stable income: 3-6 months of essential expenses - Dual-income household (both stable): 3 months may suffice (lower probability of simultaneous job loss) - Single income, variable income, or self-employed: 6-12 months of essential expenses - High job-search risk (niche industry, senior executive, specialized role): 6-12 months - These are guidelines — individual assessment is essential Essential Expenses The emergency fund should cover non-discretionary spending only: - Housing: Mortgage/rent, property tax, insurance, HOA - Fo…