You may be surprised to hear it, but there is such a thing as too much cash. Now let me backtrack for a second, because most of you are already sounding the alarms on this post.
The keyword in that first sentence is “cash”. Notice I didn’t say money. Cash, as opposed to investments, doesn’t do much for you. A savings account may provide a little interest, but to grow your wealth over time you need more than that.
While it’s a good idea to have some cash on hand for emergencies, too much cash means you are not investing wisely. Most advisors will recommend anywhere from a few hundred to a few thousand dollars in cash. Anything more is wasteful.
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