“How much money should I have in the bank?”   It’s a question that Stephanie and Kevin hear on a very regular basis.   No doubt about it: it’s important to have cash on hand; but, with a well-thought-out financial plan, you can really start to make cash work for you.   Listen in as Stephanie and Kevin invite listeners to sort out the purpose of their dollars to know where they should be going. They delve into the question of liquidity and the actual level of accessibility of different cash vehicles, from your bank checking account to your Venmo wallet.   After explaining the characteristics of cash and where to keep it, they talk about how much one should have in cash, and how to invest in your financial future if you happen to have more than enough cash.   Key Topics: The job of money. (1:41) What exactly does “cash” mean and where should you put it? (3:32) The difference between saving and investing. (5:56) Different places in which you can hold cash. (08:41) Why your line of credit doesn’t count as part of your cash. (11:28) Three factors to take note of in order to figure out how much cash you need. (12:58) “Cash gives you flexibility, and you want flexibility when you’re not sure.” (16:50) Have more cash on hand than you need right now? What do you do with it? (20:35) How to invest without tax breaks. (24:59) Why Stephanie is a big fan of cash. (28:51)   Resources Mentioned: Take Back Retirement Episode 20: Women + Roth IRA’s - What Should You Be Aware Of? (https://bit.ly/3Bpd1Zz) Take Back Retirement Episode 27: Health Savings Accounts (HSA’s): What Women Need to Know (https://bit.ly/3vX0Bap)   If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. stephanie@sofiafinancial.com   You can find the transcript and more information about this episode at www.takebackretirement.com.   Follow Stephanie on Twitter, Facebook, YouTube and LinkedIn.  Follow Kevin on Twitter, Facebook, YouTube and LinkedIn.