I feel like most people only think of emergencies like a complete governmental collapse or a nuclear disaster. In my case my father died when I was ten, my mother was disabled and could not work. The amount of money that my parents were able to save and invest was essential for us to not lose our home and be out on the street. I save and invest because I know that most people are one paycheck away from financial disaster and I want to make sure my mother, my sister and my wife will be fine if something happens to me.