If you can sit in cash, you can make a fortune. As Warren Buffett says: “You try to be greedy when others are fearful. And you try to be fearful when others are greedy.”

Having a cash reserve lets you scoop up cheap assets during a recession or correction.

It also lets you take advantage of opportunities others can’t afford to.

Because of this, it’s important to keep cash on hand. And in this article, you’ll learn several strategies for building your funds.

Ready?

1. Figure Out What You Want To Buy (And At What Price)

Recessions, crashes, and corrections are all extremely risky. Especially if you don’t know what you’re doing.

While some assets fall due to panic, others collapse because they can’t sustain themselves. Think big banks and certain real estate trusts during 2008.

You need a plan to succeed.

This means doing your homework on what you want to buy, and sitting in cash while you wait.

Personally, I’m planning to buy more VOO (Vanguard S&P 500 Index) through Robinhood. And I’ll pick up some BitCoin too. But if you’re looking to invest in single stocks or alt coins, you need to thoroughly research them.

2. Be Patient (The Number One Secret To Sit In Cash)

Most people cannot time the market. This includes 99.9% of Wall Street investors and financial advisers.

Because of this, you’re better off dollar cost averaging through the dip.

This means you invest a certain amount of money each and every week or month, allowing you to diversify your investments across time.

Dollar cost averaging is a time-tested strategy used by many of the greats.

Give it a shot to help maximize your investing power.

3. Open A CIT High-Yield Savings Account (Then Enjoy Your 2% Returns)

Traditional checking and savings accounts offer very poor returns. Many payout less than a fraction of a percent, making it virtually impossible to grow your wealth.

Because of this, I recommend opening a CIT high-yield savings account.

You’ll earn 2.25% annual returns as long as you deposit $100 a month into your account. That’s better ROI than many bonds and dividend stocks, and lower risk too.

Opening a CIT bank account is a great way to grow your wealth in a steady and reliable manner.

You’re still making money while you sit in cash, allowing you to profit as you wait.

If you’re planning on “buying the dip” and capitalizing off an upcoming recession, this is the perfect place for storing money.

Final Thoughts

When there’s trouble in the market, you want to sit in cash and protect yourself. Then, as prices fall, invest.

Doing so let’s you find some truly amazing bargains.

It’s like a massive discount sale, rewarding wise investors (like you) for their patience.

Don’t be afraid to sit in cash when economic turmoil sits on the horizon. It’ll give you a great buying opportunity once prices fall.

P.S. I highly suggest opening a CIT savings account. Why? Because they offer a safe 2.25% return, and are FDIC insured.

This is about the safest investment you can possibly make.