Thanks for highlighting that the investments can lose significant money, and that this is something to watch out for! Completely agree here. I do think that there is subtly around risky investments not belonging in a checking account. I agree that if you are in a situation where you live paycheck to paycheck you would only want to invest in very low risk assets (say US treasuries). That said, if you have some money saved up, you can invest your checking account balance more aggressively and still stay liquid even in really bad downturns.