I’m still busy building cash. Recently, I’ve decided to split my cash savings into two different accounts. Half will be going to my current savings account and the other half to my brokerage account. There are a few reasons why I’m taking this approach. Here is a quick summary.
Too Much Cash?
I don’t consider too much cash on hand to be a problem. I’ve just underestimated how fast I’d be able to save it. Since cash is accumulating faster than anticipated I’m going to start redirecting some of it to my brokerage account.
For the time being I’m going to keep it liquid, but I do want to have some available funds there should a buying opportunity present itself. The current volatility in the markets will eventually present some deals on stocks.
Slight Change of Plans
I’m still building cash for my emergency fund and for future purchases, but some of the money can safely go to my brokerage account without adversely affecting my goals. I feel that in the long run having some of the money invested will pay off.
As of now, I have no idea what I will eventually invest in. I just want to have the cash on hand in my account should an opportunity arise.
Until Next Month
I’m still busy building cash, and I feel blessed to be in a position where I am able to do so. Next month I should have a clearer picture of where to go next. Until next time.
P.s. Incidentally, if you want a strange but good read on savings, Brock Kernin over at Clever Dude has found an innovative way to save money – filling his own party balloons.
Writer and Investor. Based in the Pittsburgh, PA area, Brian holds full-time employment as a Warehouse Manager for an electronics firm. Brian enjoys wealth building, investing, gardening and the great outdoors. Brian holds a B.A. in Environmental Studies from the University of Pittsburgh and an MBA from Robert Morris University.