Each person needs to have enough money in
savings at all times to replace everything they have
and to pay all utility bills.
House, cars, furniture, appliances,
clothes, food, all of it.
My guestimate is I need to have at least 3 to 4 hundred
thousand dollars in a savings account just to cover
the cost of replacing housing, contents, vehicles, personal
items (clothes, etc.), food.
This doesn't include money needed for property taxes
due for the home and vehicles, mandatory insurance
required by the feds for the home and vehicles.