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re: Physical cash on hand
Posted on 7/5/23 at 10:57 am to El Segundo Guy
Posted on 7/5/23 at 10:57 am to El Segundo Guy
I ve got about 5k in my gun safe. Most of that is in envelopes that are from my kids birthdays and such. If SHTF, I will just confiscate it. If I need that cash I figure I only have a day or three before cash is worthless anyway.
0
Posted on 7/5/23 at 3:04 pm to El Segundo Guy
We like to keep $1500-$2000 cash at home.
Posted on 7/5/23 at 4:59 pm to HeartAttackTiger
Personally, I think $50k is overkill.
$10k would get you and a family of 4 or 5 a one way trip out of the US to many destinations and put you up for a week or so. It certainly lets you relocate in the US for about 60 days.
Maybe $15k tops.
Those are "society is still functional enough to move around and avoid problems" scenarios. Like earthquake takes out half of California or earthquake diverts the Miss River at Memphis or Yellowstone blows type scenarios. All of which would allow fo you to access the other cash at some point in the short future.
The "society gets EMP'd" scenario, well cash ain't gonna help much at all there.
$10k would get you and a family of 4 or 5 a one way trip out of the US to many destinations and put you up for a week or so. It certainly lets you relocate in the US for about 60 days.
Maybe $15k tops.
Those are "society is still functional enough to move around and avoid problems" scenarios. Like earthquake takes out half of California or earthquake diverts the Miss River at Memphis or Yellowstone blows type scenarios. All of which would allow fo you to access the other cash at some point in the short future.
The "society gets EMP'd" scenario, well cash ain't gonna help much at all there.
Posted on 7/7/23 at 7:30 am to El Segundo Guy
All emergency cash is kept in $1 and $5 denominations. Logic being that the cash is needed because electricity is out and the ability to make change of big bills is severely limited. Bottle of water costs $5, $10, or $20 depending on the size of your smallest bill.
Posted on 7/7/23 at 7:33 am to Drizzt
quote:
If you are worried about some type of bug out situation, it’s too risky taking $50,000 with you across a border. I’d set up 1-3 bank accounts in other countries you would consider living in and put $10,000 in these. Mexico is the most obvious choice but El Salvador or Panama is good too now. It’s not a hard process, particularly if you are looking for a quick vacation.
In what scenario are US banks shut down, but you can access money in Central America?
Posted on 7/7/23 at 7:54 am to Motownsix
quote:
In what scenario are US banks shut down, but you can access money in Central America?
When are you guys going to finally "get it" when it comes to Bitcoin?
Posted on 7/7/23 at 8:46 am to Motownsix
quote:
Bottle of water costs $5, $10, or $20 depending on the size of your smallest bill.
You can boil water.
All it costs you is some fuel (wood = fuel).
Posted on 7/7/23 at 8:48 am to I Love Bama
quote:
When are you guys going to finally "get it" when it comes to Bitcoin?
Who is taking bitcoin when the internet is down?
Hell... I have internet and I don't take bitcoin.
Posted on 7/7/23 at 10:17 am to blackoutdore
quote:
Why in the world would you need $50k sitting in a safe?
In a divorce situation it's worth $50k, in any account it's worth $25k or less.
Posted on 7/7/23 at 8:48 pm to RemyLeBeau
If it all really goes to shite, that paper ain't doing much.
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