Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at and watch for our response on an upcoming episode! Amidst the turmoil that we are all going through, some people are wondering if the bank's are going to run into problem and whether or not their cash is safe. On Today's Ask The Money Nerds segment of the Wealth Labs Podcast, Chief of Staff Stolba and I are going to give you some guidelines that you can follow to help give you peace of mind in this time of worry.
Time Stamps:
1:10 – Should we be pulling cash out of the bank or cash value of a life insurance policy?
1:35 – Why Regional Banks may have issues
1:58 – Why it is probably ok to leave money in your Cash Value Life Insurance
2:55 – It is ok to tap into credit to give you more cash on hand
3:30 – How much cash does it make sense to have on hand?
5:25 – How much money should you have at home vs in a bank?
6:00 – How do interest rates impact people?
8:00 – Why you should be focusing on your investor DNA?
9:30 – Focus on What you Know
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Garrett is the author of the New York Times and Wall Street Journal bestselling personal finance book Killing Sacred Cows: Overcoming the Financial Myths That Are Destroying Your Prosperity.
He is the Founder and Chief Wealth Architect of the Inc. 500 firm, Wealth Factory. A regular on ABC’s Good Money, he has been on Fox, CNBC, as well as hundreds of radio interviews, and is a contributor for Forbes. Garrett is a frequent speaker at workshops and conferences. He lives in Salt Lake City.
Garrett has also been interviewed by some of the greats in the personal development space like Hal Elrod, Robert Kiyosaki, Ryan Moran at the Capitalism Conference, Dan Sullivan from Strategic Coach, the Mindvalley Podcast, Project Life Mastery with Stefan James, Joe Polish of Genius Network, Entrepreneur on Fire with John Lee Dumas, The Science of Flipping with Justin Colby, The How of Business, and many more!
If you want to build sustainable wealth, increase your monthly cash flow and enjoy economic independence without using budgets, cutbacks, limiting your lifestyle or adding new customers to your business, then Garrett & the Wealth Factory team can help provide the tools and training you need to build the life you love.
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This video is about How Much Cash Should I Have At Home? / Ask The Money Nerds
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