Why Now's a Good Time to Start Hoarding Cash
Back in March, when COVID-19 first enveloped the U.S. in a meaningful way, the hope was that its health-related and economic damage would be minimal. Fast forward four months, and we're still in pretty bad shape on both counts. Not only are COVID-19 cases surging, but unemployment levels are still through the roof as our country battles a recession that could easily last well into 2021. And that means now's the time to start stockpiling cash in the bank if you have the ability to do so.
In the absence of a crystal ball, it's impossible to predict how the rest of 2020 will shake out. But here are a few things we do know:
All of this means that the second half of 2020 could be even more devastating, financially speaking, for a lot of people than the first half of the year. And if you lose your job in the next month or so, there's a good chance you'll be out of work well into 2021.
Source Fool.com
