Taking Inventory of Your Cash
Taking Inventory of Your Cash: Balancing Security and Growth
Taking Inventory of Your Cash: Balancing Security and Growth
This week's blogpost - https://bahnsen.co/4iNZBwe
Taking Inventory of Your Cash: Balancing Security and Growth
In this episode of the Thoughts on Money (TOM) podcast, host Trevor Cummings delves into the concept of taking inventory of your cash. Discussing the 'squirrel principle' and the psychology behind holding large amounts of cash, Trevor explores the pros and cons of cash in managing near-term and emergency expenses versus its long-term disadvantages in the fight against inflation. He offers practical advice on creating a layered strategy for cash allocation, balancing immediate liquidity, and long-term financial security. Listeners are encouraged to evaluate their own cash holdings and investment strategies to achieve a balanced, strategic approach to financial planning.
00:00 Welcome to the Thoughts on Money Podcast 01:34 The Squirrel Principle and Cash Hoarding 03:04 The Benefits and Drawbacks of Holding Cash 06:59 Strategizing Your Cash Allocation 09:30 Building a Multi-Layered Safety Net 12:57 The Long-Term Impact of Cash Surplus 16:58 Practical Steps to Assess Your Cash 18:29 Conclusion and Listener Engagement
Links mentioned in this episode:
Trevor is a Partner, Director of our Private Wealth Advisor Group, and Author of Thoughts on Money.
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