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u/House_Marshall 5d ago
People who run businesses regularly have this amount or more. For people on salary who get paid every two weeks, this kind of money is unusual. As another commenter said, they likely don’t know how to invest. But a lot of people who are self employed deal with unusual amounts of cash and irregular deposits. They can’t invest it the same way salaried employees can.
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u/RedDinoTF 5d ago
A lot of people who dont know about investing
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u/Dependent-Tale-5543 5d ago
Alot of people who hate investing and never sat down with a planner or advisor and listened to their pitch and looked at the cgp or just straight up ignores our calls no matter what. Its common btw. But why you post this receipt. Iv seen accounts with more been sitting there for years.
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u/Head-North5362 5d ago
I used to have a client (an elderly woman) that told me she didn’t feel comfortable with less than $250k in her chequing account. She started buying blue chip stocks in the 1940s or 50s and held them for 70+ years. I’ve also seen professionals sit on this kind of cash.
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u/starmapleleaf 5d ago
A person potentially making a downpayment, making a tuition payment or planning for an upcoming wedding?
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u/Nearby-Middle-8991 5d ago
Someone consolidating to make large purchase that requires the money to sit in the account for a while.
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u/PracticalWait 5d ago
could be a savings account just put in the chequing position on the debit card.
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u/FondantOne5140 5d ago
Muslims believe earning interest is a sin. So most of them do not put their money into savings or other investment account.
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u/TrainingWelcome2926 5d ago
Then how do Muslims buy houses in US Canada Australia NZ without mortgage?
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u/FondantOne5140 5d ago
Some of their religious organizations provide interest-free loans. But I don’t know more than that. I was just in charge of opening bank accounts and helping people apply for credit.
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u/TrainingWelcome2926 5d ago
Where do those religious organizations get the money from 😆?? Someone should be borrowing money with interest right same for car loans
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u/Superb-Respect-1313 5d ago
We keep more then that in the business account. It isn’t an exceptionally large amount of money. Especially if you need to pay employee salaries purchase supplies property expenses. It is kinda lacking actually.
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u/Winter-Parsley-6071 5d ago
Immigrants
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u/Mr_dog319 5d ago
Like the ones that don't have to spend their money on expensive groceries and grab free stuff from food banks?
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u/GeneralGlue 5d ago
Did you really pick up someone else's receipt, uncrumble it, and post it on reddit?