No expenses, invest emergency fund?

I have a $20K+ emergency fund. I’ve had it for years. I have a government job. Parents that would take me back in a heartbeat and a really good high school buddy who would love for me to help him raise his three kids (he’s divorced).

I own a 2018 Ducati motorcycle, a cell phone, and a marginal will to live.

Not so funny jokes aside, I don’t have any actual bills.

I make $240K USD a year and I’m single. No car payment, no mortgage, no real bills at all.

The catch is, I enjoyed my youth. I’m 44 yo, I have no debt, but only a net worth of $300k. 😭 But now I’m serious about investing and being responsible.

I can play the standard investment game, from here out and be fine. But I’m inclined to take a small gamble and put my emergency fund into an Index fund.

If shit goes south, I can always sell, pay the taxes and be okay. But before that, my friends and family would be there. But still, I’d prefer it not to come to that.

Thoughts?