Many people are loathe to increase their cash reserves when the rate of return on cash accounts is miniscule. Yet cash may be the exact asset to bolster when markets are frothy and the economy is sputtering. Here are some recent articles that underscore the importance of having a stash of some cash.
- Why Your Cash Isn’t Trash – WSJ
- Cash holdings finally getting some respect – Investment News
- The Best Places to Stash Your Cash – WSJ
Having at least 6 months of living expenses is very important to protect you and your family from an unexpected event like a job loss, disability, medical emergency or even divorce. Although money market and checking accounts are yielding close to nothing, you can research on line savings accounts. Current yields are roughly 0.9% (9-14). You can compare rates, restrictions, bank ratings and other factors at bankrate.com.