-- bond and equity market crashes — high inflation — unexpected large expenses — reduced availability of state pensions / medical cover (monevator.com)
Experts recommend keeping approximately three to six months of expenses in there in case of job loss or unexpected large expenses, like your broken leg or your dog's ankle operation. (flexjobs.com)
We then keep another $ 5k in cash to cover any unexpected large expense, and that's proven to be more than enough. (themoneycommando.com)