That’s what I thought. I have a friend at work who had about $7 k in savings/checking and he took out $3k to “put under the mattress”. Do you think he was prudent?
That's not going to offer much protection against inflation. $3K won't buy much in hard assets. At that level, one should probably think food, ammo, and fuel.
having the money on hand is definitely prudent, although... as others have mentioned... it won’t protect against inflation.
of course, most of us hear ‘inflation’ and just blow it off. this is due to the fact that inflation was never much to worry about in the US. well... some people think gold, which just broke $1010/ounce, could hit $2,000/ounce by the end of the year (i’d even consider november). if that happens, what your buddy can buy today for $1500 will cost him $3000. that would be real inflation and will crush the savings of everyone in the US (ie: the top 25% of the earners... those 0bama is trying to hurt the most)
i have told people i know to stock up on their storm supplies. 2-6 weeks of general/dry goods, batteries, etc. stuff that will last for months. will the worst happen next week? 2 weeks? a month from now? no idea. (my guess would be when the banks starting getting hit with the $3.3 trillion in defaulting commercial loans. that’s a lot to lose each month) best to be prepared.