It's harsh to say it, but that statement is a demonstration of your ignorance.
Investing is great. Put $10,000 in something diverse and passive and sit on it. But also keep a savings account for immediate emergencies, and keep some cash on hand for even more immediate emergencies.
I can withdraw money from my ETrade or IB margin accounts using the debit card that came with those accounts (or write a check on them), same as you can with a savings account.
I do keep a few thousand at a local bank and have a separate checking account at USAA that I use for most daily/monthly transactions, but that's for convenience not access/liquidity reasons.
It depends on what they are saving for - if they need the 20-30K a year down the line it is alright to keep it in the savings account.
If it is for general long term asset building - may be they haven't yet figured out how best to start investing. Again no harm to keep it parked till you figure it out instead of investing in haste and then regret later - for the rest of your life.
One in particular has been sitting on the sidelines since before the 2016 election season. They have foregone about a 50% gain that they'd have gotten over that period. That money also can never be recouped.
https://awealthofcommonsense.com/2014/02/worlds-worst-market...
If one owns a stock and the price goes up 10% they don’t make any money. They would have to sell to make money.
At some point “Bob” needs to retire, hopefully that’s not during a downturn.