If you're trying to get your financial house in order, any number of experts will tell you the same thing: Build up an emergency fund of at least three to six months' worth of living expenses.
But Suze Orman, financial expert and former CNBC television host, thinks otherwise.
"They're idiots," Orman said at the eMerge Americas conference in Miami, Fla., on Monday, answering a question about how much to keep in your emergency fund.
Orman explained that three to six months' worth of expenses isn't enough to feel secure. What if you lose your job and can't find another one for a year? What if you're hit with an out-of-the-blue medical emergency? A million potential scenarios could drain your savings without warning, so it's better to have at least eight to 12 months' worth of living expenses squirrelled away.
"You need to know that you are going to be secure," she says.