How Much Cash Is Too Much?

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Business, Investing

4.7 • 3.1K Ratings

🗓️ 4 September 2024

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

"Can we have too much in cash? My wife and I were saving for a new home, but decided to stay in our starter home instead. We have a large amount in cash now but we like the added security and flexibility to use it how we want (home renos, vacations, etc.). If we're saving and investing 25% for retirement, is there anything wrong with keeping it in cash?" We'll walk you through that question and more in today's Q&A episode! Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Here's a question.
0:07.0	a question.
0:08.0	Can you have too much cash?
0:10.0	Brian, I am so excited that we get to answer that question. A matter of fact, I am so excited that we get to answer that question.
0:13.5	A matter of fact, I am so excited that we get to answer all kinds of questions
0:17.5	that you guys have.
0:18.5	It's what we love doing here on Tuesday morning.
0:20.8	So if you have a question, we would love for you to get that in the
0:23.5	live chat right now. We have the team out in the wings collecting them all. So if you
0:28.5	want us to speak to something that you
0:35.0	creative director Reebi.
0:38.0	Yeah, we're gonna kick it off with Craig's question.
0:40.0	He says, can we have too much cash?
0:44.0	My wife and I were saving for a new home, but decided to stay in our
0:48.0	starter home for now instead.
0:50.0	We have a large amount in cash now, but we like the added security and flexibility to use it
0:56.3	how we want to, home renovations, vacations, etc.
1:00.6	If we're saving and investing, 25% for retirement, is there anything wrong with keeping this big pot of cash?
1:09.0	What do you think?
1:10.0	So Craig, I love hearing that you are saving and investing 25% that was going to be like the big first thing that I was going to ask you
1:17.4	Since you're doing that I feel pretty good about where you are, but when it comes to holding cash I think the conversation that you have to have with
1:25.6	yourself is an opportunity cost conversation okay I've got the cash and it was going to be
	...

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