Watching the balance on your savings account climb higher and higher is undeniably a deeply satisfying feeling, but there absolutely is such a thing as “having too much cash.” Piling stacks on stacks might feel great, but letting too much of your money sit there and gather dust is almost never the best strategy — even if “gathering dust” means earning more in a high-yield account. Your money should be working for you, whether you’re building an emergency fund, saving for a big purchase like a car or wedding, or getting ready to invest.
You probably already know that, generally speaking, investing is a crucial part of any financial plan, no matter what your net worth right now. (Investing: not just for rich people!) Maybe you don’t tend to think of yourself as the “type of person who invests” — maybe you still have debt, are working on saving for your short-term financial goals; maybe you’re barely contributing to your company 401(k) and even that feels taxing on your budget at the moment. We totally feel you.
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