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Ask a money mentor - Idle Cash with Kevin Lynn – J.P.Morgan advisorVideo

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Video ADA Text: Ask a money mentor - Idle Cash with Kevin Lynn – J.P.Morgan advisor video

Transcript Browser Title: Video Transcript: Ask a money mentor - Idle Cash with Kevin Lynn – J.P.Morgan advisor

Description: Holding excess cash may feel like a saftey net, but it’s actually losing value quickly. That’s why you should consider putting your cash to work.

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Video Id: 6326691326112

Audio Description Video Id: 6326691526112

Length (seconds): 52

Transcript: <h2>On Screen:</h2> <p>J.P. Morgan Wealth Management logo.</p> <h2>Legal:</h2> <p>INVESTMENT AND INSURANCE PRODUCTS:</p> <ul> <li>NOT A DEPOSIT</li> <li>NOT FDIC INSURED</li> <li>NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY</li> <li>NO BANK GUARANTEE</li> <li>MAY LOSE VALUE</li> </ul> <h2>Narrator:</h2> <p>What is idle cash?</p> <h2>Kevin Lynn:</h2> <p>Idle cash is money that is not being invested or saved for a specific goal – the extra cash you may have after paying your bills, monthly expenses, and saving for emergencies.</p> <h2>Narrator:</h2> <p>Can you have too much cash in your account?</p> <h2>Kevin Lynn:</h2> <p>Any cash you have on hand should have a defined purpose. Having extra money can feel good, but it can also impact your financial goals if it’s not part of your overall financial strategy. How? Cash can lose value due to inflation (or the rising prices of goods and services over a period of time).</p> <h2>Legal:</h2> <p>Diversification doesn’t provide against downside protection.</p> <h2>Kevin Lynn:</h2> <p>So remember, once you’ve covered your emergency fund and everyday budget, it’s time to think about putting your idle cash to work.</p> <h2>On Screen:</h2> <p>Takeaways</p> <ul> <li>Idle cash is money that is not being invested or saved for a specific goal.</li> <li>Cash on hand should have a defined purpose.</li> <li>Putting idle cash to work can help avoid losing value over time.</li> </ul> <h2>On Screen:</h2> <p>J.P. Morgan Wealth Management logo.</p> <h2>Legal:</h2> <p>J.P. Morgan Wealth Management is a business of JPMorgan Chase &amp; Co., which offers investment products and services through <b>J</b><strong>.P. Morgan Securities LLC</strong> (JPMS), a registered broker-dealer and investment adviser, member FINRA and SIPC. Insurance products are made available through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. Certain custody and other services are provided by JPMorgan Chase Bank, N.A. (JPMCB). JPMS, CIA and JPMCB are affiliated companies under the common control of JPMorgan Chase &amp; Co. Products not available in all states.</p>

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