Perhaps. While many people do not have an emergency fund at all, some people have too much of an emergency fund. Conventional wisdom says that 6 months of expenses is a good amount to have in cash – is that too much for you? We know that savings accounts, money markets, and even CD’s are not paying much in interest. Those are wonderful areas to save, but not to invest.
Any amount of money that you might have to use within 18 months should be stashed in those types of accounts, anything else can be invested. A quality mutual fund with good diversification will add to your overall accumulation success.

disclosures:http://www.hechteffect.net/?page_id=31