4 reasons not to hold too much cash
Cash has been king this year as savings balances swell and the economy wobbles, but it’s not a great long-term proposition to reach your goals.
Data from the Australian Bureau of Statistics shows household savings rates skyrocketed in the second quarter of 2020 from 6% to 19.8% thanks to a record fall in consumption and an increase in social assistance benefits.
While cash is comforting in a crisis, if you’re fortunate enough to have saved money, James Gard and Emma Papaport from Morningstar share four reasons not to leave this lingering in cash… Read them here.