Not only that, but $1,000,000 in a checking account is a pretty big non-performing asset. Who needs that much liquidity? Is he expecting a kidnapping?
So, what fraction of one’s assets should not face exposure to the equities, bond, or real estate markets (and their attending 40-90% devaluations, from time to time)? Or would it be best to have essentially zero cash assets?
do kidnappers take a check?
Wouldn’t keep that sort of cash in a checking account. Too many hackers and it seems that cyber security is only slightly better than keeping cash in a cardboard box.