Is cash still king in times of rising inflation? How much cash in your bank account is too much? Everyone has an opinion about how much money you should keep in your bank account.

But I'm aware that we require funds to pay our expenses each month. We need money in our rainy-day reserve We need money in our emergency fund to cover our bills and costs if we lose our job.

We also require funds to purchase stocks, ETFs, mutual funds, and real estate. We need funds today to invest in order to reach financial independence and retire at 45.

As a result, the prevalent question is how much cash they should retain in their checking and savings accounts. How much of their net worth should you maintain in cash?

The amount of cash you should store in your bank account is totally dependent on your current financial status, such as your income and spending.

There are times when you need extra money, such as when saving for a down payment on a property, saving for personal or family medical bills, or saving to update your kitchen or buy new furniture.

Before you start saving money, you should understand why you're doing so. What is the point of keeping  20, or 30% of your net worth in cash? What is the point of putting money into the stock market?

People may tell you that cash is trash, but you need cash to acquire assets. If you put all of your money into stocks or mutual funds with no extra cash, you're probably not diversifying enough.

You also want to prioritize your retirement savings up to the maximum contribution limits so you can make those dollars work for your future.

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