Firearm on layaway etiquette

The best thing about cash versus a stock, is that cash is liquid and available on a moment's notice.

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Selling stock isn't difficult if you know how to do it. I have a direct account with Pershing - the clearing house for buying and selling stock. Any transaction (buy / sell) costs 42 cents - and you wonder how people like Ameritrad and Scott Trade can offer "low trade" costs. Simple, it costs them 42 cents to make the trade for you. If they have 200% costs + overhead that means they have to clear $1.26 to cover their cost + overhead. If they do your trade for $3.00, they're making $1.74 in pure profit.

I put in a sell order and within 48 hours the money is in my account.

If I need cash beyond my regular "walking around money" I keep a specific minimum amount available in a checking account.

It's not like cash is better than stock. If you have a tiered plan of cash availability - it's always there and simply a different asset than stock.

Actually my finance planner wants me to have. $50k CASH reserves upon retirement. Asked where to put it he said in the bank OR a pillow case.

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You need to ask him "why"? A lot of the financial planners are simply telling you this because that's what their standard investment planning guidelines tell them you need. There's no reason you really "need" $50K available if you have a cash plan as part of your entire investment strategy.

I keep less than $4K cash in any of my investment accounts because I keep a specific cash level in a checking account that pays interest (as small as it is, it's better than 0%).

If the cash accumulates in an investment account it is stagnant paying 0% interest - which is one reason your advisor told you to put it in a bank account. But, "pillow case"? That's just stupid advice.

Really - you need to ask "why." My bet (if the advisor is honest) you'll be told that's what our guidelines say you need. Then it's up to you to believe that or not.