Holding 10-20k in cash is your MOST FLEXIBLE asset...

According to the "not rich" (~99% of people) this article is meaningless.

What the author doesn't understand, which is interesting if he really is a bank teller, is that holding 10-20k is NOT part of a long-term strategy.

Holding that cash has 1 very specific purpose. It is your most flexible short-term asset.

1. It's enough to place a sizable risky bet on the stock market and still have some left over.

2. It prevents emergencies from forcing you to pull out your investments at a possibly inopportune time.

3. You can use it as a down payment on a medium-to-large asset such as a car.

You should never pull out your stocks in cash to put a down payment on a car - I literally laughed when he suggested that you build up no cash-on-hand.

Do whatever you want, but if you follow this guys advice, "it will destroy you"

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