Holding too much cash?
Dunno what to do - I realize this is a good problem to have. I currently have around $320k of cash in RRSP, TFSA and savings accounts. I plan to keep around $150k in HSA because I’m hoping to quit and take a half year career break.
So that leaves me with $170k to deploy.
We have a mortgage with $864k balance at 3.83% for the next 3 years.
Husband has most of his assets in volatile stocks - around $2.7-3m+ depending on the day. Most of this are actually gains - he bought AMD 10 years ago.
He has very little cash, which is why I feel like I should hold more. For example, we decided to pay off $135k when we renewed our mortgage in March, and I was able to pay more of it so that he didn’t have to liquidate his investments. And then obviously AMD went crazy, so that was the right move lol.
I have $645k RRSP/LIRA, mostly in ETFs and some stocks, and $51k in CASH.TO. I’m DCA’ing $500 CAD into VEQT and $500 USD in XAW.U each week.
I have $165k TFSA, also mostly in ETFs and a little TD. There’s $35k in CASH.TO there..
I have approx $85k in non-reg investment account, mostly tech stocks, and includes $33k CAD and $8k USD (in PSU.U)
So the above cash in my investment accounts = around $120k cash.. plus I have $200k in a HSA earning 3.25%.
Do I have too much cash? I think I have approx $770k invested and $320k cash. Think I’m holding too much. Again I’d like to keep $100-150k in HSA so I don’t have to worry about cash flow.
So what should I do with the rest? The markets are so inflated right now it’s been very hard for me to lump sum in… and I wonder if I really do need to be 100% equity at 40 years old, with husband highly invested in volatile stocks with little cash.
EDIT: Any advice appreciated. If you know a fee only advisor in Vancouver you can recommend, I’d appreciate that too.
For those who may ask, I’m still investing over $2k monthly in my employer RRSP and ESPP.. so it’s not like I’m not investing anything right now.