The importance of cash reserves: A 2-minute overview

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When you’re investing, how much should you think about available cash?

It’s incredibly important, Certified Financial Planner Professional Nancy Hecht said.

“Cash keeps you out of trouble,” she said. “It’s always important to have cash on hand.”

Some people think it’s best to have about four months worth of expenses tucked away, but Hecht said she tells her clients that they’d be better off with four months’ worth of income.

Hear what else she had to say, above, in this latest installment of The Hecht Effect with Nancy Hecht.