Yeah I’d rather hold assets for anything I don’t have a possibility of immediately needing. Even with more volatile assets like stocks, generally I can expect that it will be worth more at some point in the not too distant future than today, whereas cash is always worth less.

As a result I intentionally have 0 cash savings. Enough to live on for 2-3 months in my checking account, plus I have available credit for emergencies, everything else goes into assets I can expect to appreciate in high single digits worst case. If anything I feel like most people have a much less aggressive allocation than they can probably afford to (although I also have little debt, just a car loan, and a relatively low cost of living which makes this easier)