ST. CROIX INSIGHTS

You might find my statement hard to believe, but take that extra moment or two to let it sink in: Cash is genuinely misunderstood in our world today and how it fits into one’s own financial plan. This is why I believe too many people have too little cash. Cash is king.

Consider the surveys often shared on news stations. It often reports that people are struggling to pay for groceries, rent, mortgage, or their insulin. It’s a great example of people living paycheck to paycheck. I suspect for many people, it’s easy to recall a period in our lives when that described our situation.

Yet, the statistics I read today are astonishing—over 60% of Americans are living paycheck to paycheck. Many are only one paycheck away losing their homes.

In our world today, we are so focused on “stuff” to bring us happiness. One of my clients recently pointed out that it’s not until you turn 50 years old that you realize you don’t need all this stuff. We are spending our way into working longer than necessary.

Cash is king.

Having cash isn’t a problem, nor does it create a problem. If you had $100,000 or $250,000 just in your saving account today, what problems does that truly create? The answer is none!

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Ask yourself- can my portfolio support my lifestyle in my retirement?