I agree there is a time and place for it. 5 years is a bit long IMO. The S&P500 is up 250% in the last 5 years, while savings would have netted maybe 10% growth in that time. I imagine some sort of hedge would be appropriate, but have definitely been burnt by taking money out of the market too soon.

Im just shocked that some people think stock is some SV alternate reality. I grew up in a rural community before the internet, and even then, nobody I knew was long term saving for houses or retirement with a savings account.