Tragic life events that need you to liquidate your savings are very rare. Personally I used charge cards (they had a zero balance) while I waited for the market to come back (2 months) and then I pulled out as little as possible. When the market was much better I paid off Charge Cards.

I should have probably said that I also keep 6-9 months of living expenses in a traditional savings account for emergencies. It didn't even occur to mention it since it's a minuscule portion of my net worth (< 2%), compared to the amount that's invested in the market, but that's definitely a good observation and I should have specified that to begin with.