[bryanrasmussen]

right but how much emergency cash is needed? He had a transfer of 6000 plus whatever else? Should one have 6000 in emergency cash available? Seems excessive.

Anyway lots of countries seem to think they are soon going cashless, so good luck with that.

[trompetenaccoun]

Actually withdrawing too much cash was one of the reasons cited in the article for banks closing down people's accounts ;)

[_heimdall]

Going off of this article at least, it can take a few weeks for a bank to either reopen your account or send you the balance. Having around a month's worth of emergency cash would make sense to be able to handle an account closure like this.

[phil21]

I am a firm believer of having 10% of ones liquid net worth in cash or equivalent not gatekept by anyone but myself.

This is from extremely hard won personal experience.

Yes, it's a lot of cash. I don't mean keep it all under your mattress.

Edit: A month of your total living expenses including mortgage/rent is what I would deem as both reasonable, and an absolute bare minimum. Not having this on hand would make me feel extremely uncomfortable as you are living at the pleasure and whims of others.

[gentleman11]

One day, pirates learned they could get better interest on their treasure by putting it into banks than they could by burying it. But many had forgotten where they buried it and were not able to take part in this new world

[phil21]

I suppose the smart pirate would diversify their portfolio. Keeping it all the bank doesn't sound super smart for a pirate who might be unmasked and assets seized.

Certainly no form of wealth storage is without risks!