There's the saying..."the stock market can stay insane longer than you can stay solvent".  In order to genuinely invest, I wanted to make sure I would not be forced to liquidate before I was ready, which meant some cash for living expenses, food supplies, precious metals, and freedom from debt.  If the economy goes down, or a job loss happens, I'll have the security to stay invested.  A time horizon of five years is a good way to think of investing.  Right now, I personally think silver is going to reward the patient, as when it goes up it tends to do so spectacularly, but in the meantime it is an unloved asset and one of the best bargains out there. It acts as both a good store of value, safer than a bank account these days, and a good investment for the patient.  These assets have kept me patient in my oversized Poet investment.  I am actually more concerned for the future solvency of banks and brokerage accounts than I am that Poet will never be a worthwhile investment, but that is where my other 'investments' come in.