Yeah, that's just strange. Like, why not in a savings account? If your going to be in cash, getting 1% or whatever is at least something. Cash in a safe is inconvenient, risky and expensive in that it earns nothing. Is he a doomsday prepper type worried about the collapse of the financial system or banks? Personally I love preparedness and survival, but even I only keep $500-$1000 in my safe. Anything more will start to significantly hurt my primary financial preparedness, which would be achieving retirement/FI.