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Americans Have an Average of Nearly $60,000 in Cash. Here's Why That May Be a Bad Thing

Americans Have an Average of Nearly $60,000 in Cash. Here's Why That May Be a Bad Thing

There's a reason people are advised to keep anywhere from three to six months' worth of living expenses in a savings account. Personal Capital surveyed its users recently and found that overall, Americans had $59,506.81 in cash. The median cash balance among 30-somethings, for example, was $50,974.75, while the median cash balance among those in their 60s was $119,289.96.