[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!