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re: Physical cash on hand
Posted on 7/2/23 at 9:51 am to El Segundo Guy
Posted on 7/2/23 at 9:51 am to El Segundo Guy
I think $5000-8000 is plenty of cash to have in hand just in case you have to leave quickly or pay cash to get a better deal on something. Anything more than that I’d keep in gold or jewelry so at least you get an inflation hedge and could still barter if needed.
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.
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.
2
Posted on 7/2/23 at 9:54 am to Drizzt
quote:
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.
Fun fact.
Dominican Republic, Nicaragua nor Paraguay reports banking activity to USA. Mexico does.
Take that information and do what you wish.
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?
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