A Confession of a Life-Long Saver

The vast majority of posts you see from bloggers regarding money management, budgeting, and investing is targeted toward those who are in the stage of life where they need to accumulate for:

  • An emergency fund
  • A college fund
  • A down payment for a home
  • Retirement

What about those who have attained financial independence? What about the savers and investors who have accumulated more than they’ll ever need? Do these people still need to focus on growing their financial assets?

Here is my confession:

Since I am financially secure, I only have the amount of money needed in income-producing accounts to provide the annual income my wife and I need based on the lifestyle we want. We keep the rest of our money in cash … not in any financial institution.

Since this is contrary to recommendations you will receive from nearly all financial advisors, you need to understand the reasons why this is important to us.

  • We have no need to grow our money beyond what we save each month from the income we receive from our income-producing accounts. Take a look at our typical month’s budget and results. You will notice that we save more than 30% of our monthly income. The savings each month is simply added to our stash of cash.
  • It’s nobody’s business — especially any government — what our true financial status really is.
  • Both of us have known poverty. Having a sizeable amount of cash at hand is important to us. It’s a matter of feeling safe and secure.
  • Just as an Emergency Fund is needed in the event of an unexpected expense like a medical emergency, the transmission goes out in your car, your employers eliminates your position, etc.; we believe that a stash of cash is needed in the event the national or global money system is “offline” for a period due to a natural disaster or some form of a cyber crime.
  • Banks go under. While our money may be insured up to a certain amount, actually being able to have access to that money may take a while.

Note: Everyone’s financial background, needs, goals, and philosophies are different. A practice that works for me may be entirely wrong for you.


If you want to contact me directly,
please send your email to mbrown.ec@mail.com.


My Other Websites

Perspectives on Life
(Blog)

Life Under Change
Quotes that inspire, motivate, challenge, and comfort us.


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Published by W. M. Brown

I am a retired U.S. expat living in Ecuador. I was a business owner for 32 years before retiring in 2012.

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