By Paul Morrone CFP®, CPA/PFS, MSA
Cash is king, except when it’s not. You may be wondering under what scenario is cash not king, and that is when using it compromises your ability to do something else that may be more important from a long-term perspective. Let’s take the example of a young family who is actively trying to accumulate retirement. Their goal is to save $10,000 a year towards this goal and both spouses are about to make $5,000 year-end IRA contributions when they realize their car breaks down and they find out they need a new one.