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re: WWYD if you were handed 50k

Posted on 2/14/24 at 1:47 pm to
Posted by El Segundo Guy
SE OK
Member since Aug 2014
9656 posts
Posted on 2/14/24 at 1:47 pm to
If you have a 401k, stocks and all already, I'd keep it in cash. I keep 50-60k in cash in one of my gun safes because you just never know.
This post was edited on 2/14/24 at 1:48 pm
Posted by pbro62
Baton Rouge
Member since May 2016
11464 posts
Posted on 2/14/24 at 5:09 pm to
Sure you do broke dick
Posted by cbree88
South Louisiana
Member since Feb 2010
5517 posts
Posted on 2/14/24 at 5:10 pm to
quote:

I'd keep it in cash. I keep 50-60k in cash in one of my gun safes because you just never know.


That’s probably one of the worst possible things he could do with it. It’s very risky because you could lose it all in a house fire or if someone breaks into your safe. It also earns no return at all and loses value each year because of inflation.


I would compare that to the biblical parable when the servant entrusted with one talon buries it out of fear and earns no return for the master.
This post was edited on 2/14/24 at 5:11 pm
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