How Much Cash Should I Have | 6 - 9 Months Emergency Fund Examples | Dr. Sanjay Tolani

[ How Much Cash Should I Have? ]

Having cash in the bank is a good thing — up to a certain point😉. The downside of leaving too much money in cash is opportunity cost. That is why you need to know how to prepare an emergency fund.

An emergency fund💰 is a stash of money set aside to cover any financial surprises life throws to you. It is recommended to have an emergency fund equivalent to 6 - 9 months of salary. This is how much cash you should keep in your bank. After setting aside your emergency fund, you can then choose to invest the remaining cash you have.

If you are unclear of what to do with those excess cash, speak to any financial advisors around you to find out more on how they can help you grow your wealth progressively across the years.

I have a dedicated playlist on how to do proper financial planning and personal finance, head over to my playlist folder to understand more about it. See you in the next video 🤟🏼

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|Who is Dr Sanjay Tolani?|

Dr. Sanjay Tolani, became the “youngest member” at the age of 19 and the “youngest life member” at the Age of 28 to the Million Dollar Round Table (MDRT). He also has 13 Top of the Table Qualifications (TOT), which is considered the pinnacle of the financial services profession. To top things off, he is also the youngest Managing Director of an insurance brokerage in the Middle East.