, Columnist
Menendez Isn’t the Only One Who Could Use a Cash Pile
There are benefits to an ‘old-fashioned’ allocation to cash these days, such as optionality and even a good yield.
Sen. Bob Menendez exits federal court in New York on Wednesday.
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When it comes to asset allocation, Sen. Bob Menendez might just be the one to follow. Indicted on fraud charges after $480,000 in cash was found in his house, the New Jersey Democrat explained: “For 30 years, I have withdrawn thousands of dollars in cash from my personal savings accounts, which I have kept for emergencies and because of the history of my family facing confiscation in Cuba.” He admitted that this might “seem old-fashioned.”