Search

Home > Ask Ralph > How much cash should I keep on hand once I retire?


	Podcast:		Ask Ralph
	Episode:		How much cash should I keep on hand once I retire?
	Category:		Business
	Duration:		00:24:11
	Publish Date:		2024-12-02 08:00:00
	Description:		Are you worried about having enough cash on hand during retirement? Ralph Estep Jr. tackles this crucial concern by sharing a powerful story about a client, Tom, who faced unexpected financial challenges shortly after retiring. Despite having a substantial investment portfolio, Tom found himself unprepared when he needed $45,000 for urgent expenses. This episode emphasizes the importance of maintaining a robust cash position to handle life's surprises without having to sell investments at a loss. Ralph provides actionable insights on how much cash retirees should ideally keep available, helping listeners feel more secure and prepared for the uncertainties that retirement can bring. Tune in for valuable lessons on financial planning that prioritize peace of mind over merely maximizing returns, as Ralph answers the pressing question: "How much cash should I keep on hand once I retire?" https://www.askralphpodcast.com/how-much-cash/ Podcast Timestamps: 00:00 Episode Overview 01:15 Listener’s Question: How Much Cash Should I Keep on Hand in Retirement? 03:19 Bible Verse: Ecclesiastes 11:2 – A Wise Man Saves for the Future 03:44 Real-Life Story: Tom’s Financial Struggles Without Adequate Cash Reserves 14:55 How Much Cash Should I Keep On Hand Once I Retire 15:05 #1 Emergency Fund 15:33 #2 Near-term Expenses 16:11 #3 Investment Cash 16:45 Call to Action 19:09 Actionable Steps You Can Take 20:49 Spread Your Cash Reserves Wisely 21:48 Closing Takeaways: Retirement planning is not only about maximizing returns, but also having sufficient cash reserves. Unexpected expenses can arise during retirement, making it crucial to have accessible cash. Maintaining 12 to 24 months of living expenses in cash can improve retirement satisfaction. Successful retirees often keep 20% of their portfolio in cash during the early years. It's advisable to plan for future expenses, ensuring cash is available when needed. Review and adjust your cash reserves regularly to meet changing life circumstances. Links referenced in this episode: askralphpodcast.com/survey https://www.askralphpodcast.com/christmas Ask Ralph Insiders Community https://mailchi.mp/askralph.com/group Ask Ralph Show Live https://askralphpodcast.com/live What is your question that you would like to ask Ralph? Send Your Question here: https://justaskralph.com/ Join our email list and get a free copy of “Mastering Your Finances” at https://askralph.com/ TAKE OUR LISTENER SURVEY - YOU COULD WIN $250 LISTEN NOW WATCH NOW ON YOUTUBE (OUR VIDEO VERSION) WATCH NOW ON RUMBLE (OUR VIDEO VERSION) VISIT OUR ASK RALPH SHOW GEAR STORE FOR ALL KINDS OF COOL MERCHANDISE - ENTER THE CODE "FREEBOOK" FOR A FREE DOWNLOADABLE COPY OF MY BOOK "MASTERING YOUR FINANCES" JOIN OUR FACEBOOK INSIDERS GROUP Please share our Podcast with all your friends and family! Submit your questions or ideas for future shows - email us at ralph@askralph.com or leave a voicemail message on our podcast page Leave A Voicemail Message Like us on Facebook and follow us on Facebook at https://www.facebook.com/askralphmedia Twitter (@askralphmedia) or visit www.askralphpodcast.com for more information. To schedule a consultation with Ralph's team, contact him at 302-659-6560 or go to www.askralph.com for more information! Buy Ralph's Book - Mastering Your Finances! on Amazon Buy Ralph's Book - Gospel of Entrepreneurship: Following Jesus in Your Business Journey on Amazon
	Total Play:		0