The Best Financial Advice to Follow Is Still True Today: Always Have Cash
- davidewhitebooks
- May 10
- 3 min read
Updated: Nov 16
When it comes to building wealth and achieving financial peace of mind, there’s one piece of advice I heard years ago that I’ve never forgotten. And it continues to prove itself every time the market shifts:
Always have cash is the best financial advice to follow . Yep! When the market goes bad, those who have money can play.
To have cash isn’t just about being safe; it’s about being strategically ready. Here’s why this simple advice remains one of the smartest financial habits you can build.
The Best Financial Advice to Follow: Starts with Your Mindset
Market downturns don’t last forever, but they do happen. During those times, prices drop, fear rises, and many investors sell in a panic. But those with cash are in a position to buy quality investments at a discount, whether it’s stocks, real estate, or business opportunities.
2. Avoid Selling at a Loss
If all your money is tied up in investments and something unexpected happens, such as a job loss, an emergency, or a market crash, you may be forced to sell assets at the worst possible time. Cash gives you breathing room so you don’t make desperate moves.
3. Peace of Mind During Uncertainty
There’s something powerful about knowing you have cash available. Whether it’s three months of expenses or a fixed percentage of your portfolio, cash provides emotional and financial stability when things feel uncertain.
4. Play Offense, Not Just Defense
Financial freedom isn’t just about avoiding risk. It’s about being ready to move when the right moment comes. Cash is your offense, your ability to act when opportunity knocks.
Pros and Cons of Always Having Cash
Pros:
Liquidity for emergencies and opportunities
Stability during market downturns
Financial flexibility
Strategic buying power
Cons:
Low or no returns over time
Cash loses value due to inflation
Missed investment growth potential
Temptation to spend instead of invest
Key Takeaway
Cash is not the enemy.
It’s a financial advantage used wisely...a tool for protection, preparation, and participation in key moments.
Quote to Remember
Final Thought
Cash doesn’t mean you’re missing out; it means you’re staying ready. When used with intention, cash is power. It gives you control over your choices, even in uncertain times.
So remember:
Always have cash… because you’ll still be able to play when the market goes bad.
Want to Go Deeper?
BOOKS BY DAVID E. WHITE
Kindle eBook and Paperback on Amazon
📘 HOW TO BUDGET & SAVE
UNLOCK FINANCIAL FREEDOM: SIMPLE BUDGETING STRATEGIES FOR EVERY INCOME LEVEL
This book shows you how to take control of your money with simple steps that help you budget confidently at any income level.
Kindle eBook: https://amzn.to/496Y96M
Paperback: https://amzn.to/4epX4aU
📙 RETIREMENT PLANNING HANDBOOK
Your Guide to Financial Freedom, Health, and Happiness in the Golden Years
This guide helps you prepare for a secure and healthy retirement with practical financial and lifestyle strategies.
Kindle eBook: https://amzn.to/47yDO9m
Paperback: https://amzn.to/4lptFQp
📗 PERSONAL FINANCE FOR TEENS AND PARENTS
How to Budget, Save, and Invest as a Family for a Lifetime of Financial Success
This book helps families build financial confidence together through budgeting, saving, and investing as a team.
Kindle eBook: https://amzn.to/49bmFnh
Paperback: https://amzn.to/4otKmMk
Disclosure:
This post contains affiliate links, meaning I may earn a small commission if you make a purchase, at no additional cost to you. Your support helps keep this blog going.
Disclaimer
The information provided in this blog is for educational and informational purposes only and reflects the personal opinions and experiences of the author. It should not be considered financial advice. Always consult with a licensed financial advisor before making any financial decisions.
David E. White
Veteran | Author | Blogger | Financial Educator
Over 20 Years of Business Ownership Experience
NEW Vision, LLC
Comments