Do You Have Too Much Cash?
Most Americans are woefully behind on emergency savings, so much so that they're putting their immediate and long-term finances at risk. A frightening 57% of U.S. adults have less than $1,000 in the bank, which is considerably less than what the average household needs on hand for emergencies. Worse yet, 39% of Americans claim they have absolutely no savings at all.
But then there are those who have the opposite problem -- and admittedly, it's not the worst one to have. Whether it stems from an overly cautious attitude or a general fear of investing, many households have much more money than necessary in good old cash. In fact, it's estimated that Americans hold 58% of their investible assets in cash, according to just-released data from BlackRock. And while that's less dangerous than not having enough cash, it's a risky prospect in its own right.
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Source: Fool.com
