Howard I Wiener
Aug 22, 2017 · 1 min read

Rex have you considered that someone with that much cash on hand in a checking or savings account may actually need the cash flow for their regular expenses? In NYC, especially where I live, expenses are pretty high…$1200–$1500 per month just for real estate taxes, $3000-$5000 mortgage, plus utilities (houses average about 8000 feet in my neighborhood), and don’t even get started with food, auto, discretionary spending, etc. It adds up pretty quick. And for someone who lives in a major metro area like NYC, SF, LA, and they have high income and expenses, $25,000 average daily balance doesn’t seem to be too far fetched.

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    Howard I Wiener

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