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Started By
Message
Do you keep cash on hand?
Posted on 11/29/21 at 10:39 am
Posted on 11/29/21 at 10:39 am
I was curious as to how many people on this board keep physical money in a safe, outside of bank or other account. If you do, or know someone that does, what number do they/you target? This is of course not including small bills for daily spending. I had a great uncle that lived through the depression and absolutely swore against banks (for good reason in his time). I tend to not as I would rather even a small return as opposed to zero return.
Also give me your address.
Also give me your address.
11
Posted on 11/29/21 at 10:45 am to AllDayEveryDay
Yea, just a few thousand for random stuff. It’s mostly to have in case of evacuation, I like to bring money if something were to happen with my card that the tards at Chase can’t figure out.
Posted on 11/29/21 at 11:02 am to AllDayEveryDay
Yea here is a pic of my emergency money
Posted on 11/29/21 at 11:02 am to AllDayEveryDay
Yes. In aluminum foil in the freezer.
Posted on 11/29/21 at 11:36 am to AllDayEveryDay
I keep around 3 thousand in the house, usually carry a couple of hundred. I have lived through a couple of situations where credit cards and ATMs quit working, a bank failure, and a couple of my favorite eating places not being able to take plastic many times. Also, if I get exceptional service from someone I like to tip the individual directly in cash. Any return lost on not investing the money is insignificant to me.
Posted on 11/29/21 at 12:15 pm to AllDayEveryDay
Laugh all you want, but I keep 10k readily available.
Posted on 11/29/21 at 1:54 pm to touchdownjeebus
quote:And another 10k in gold from Rosland Capital.
Laugh all you want, but I keep 10k readily available.
Posted on 11/29/21 at 3:14 pm to touchdownjeebus
quote:This plus a bit.
Laugh all you want, but I keep 10k readily available.
I do valuations on estates (collector & bullion coins and some precious metals) so I need to be liquid in case I get presented with a situation where I need to have it on the ready.
If I didn't have that reason, probably $4k-$5k to be able to roll out for a couple of days.
Posted on 11/29/21 at 3:19 pm to AllDayEveryDay
I never have a lot of cash. Everything on different bank accounts and virtual wallets. Mostly use fastcard
Posted on 11/29/21 at 4:19 pm to AllDayEveryDay
Always keep money in the walls of the banana stand.
Posted on 11/29/21 at 8:52 pm to AllDayEveryDay
I keep 10-15k in cash around all the time.
Not for an emergency but rather to buy classic cars and motorcycles. Guys that own these things love cash. I usually take my buddy (a state trooper) with me to look at the vehicle/bike and a blank bill of sale.
Hand over the cash - sign the paperwork and drive away.
I bought a couple of motorcycles recently so I am cash poor but when I sell one of my old cars, I will be good again.
And before anyone thinks I am a high roller - each of these vehicles usually cost between 3500 and 10,000. I never have more than 12500 total wrapped up in them.
It’s my hobby. Not trying to make any money.
In case anyone is wondering - I bought a 1986 Honda Interceptor VFR750F and a 1980 T140E Bonneville.
Not for an emergency but rather to buy classic cars and motorcycles. Guys that own these things love cash. I usually take my buddy (a state trooper) with me to look at the vehicle/bike and a blank bill of sale.
Hand over the cash - sign the paperwork and drive away.
I bought a couple of motorcycles recently so I am cash poor but when I sell one of my old cars, I will be good again.
And before anyone thinks I am a high roller - each of these vehicles usually cost between 3500 and 10,000. I never have more than 12500 total wrapped up in them.
It’s my hobby. Not trying to make any money.
In case anyone is wondering - I bought a 1986 Honda Interceptor VFR750F and a 1980 T140E Bonneville.
Posted on 11/29/21 at 8:55 pm to SECdragonmaster
here is my take. 10k may not solve a problem, but it is enough to buy you some time to find a solution. if you find yourself in a bind, 10k Is a decent retainer.
Posted on 11/29/21 at 8:56 pm to nugget
What kind of safe is everyone sporting for all this cash?
Posted on 11/29/21 at 9:01 pm to meeple
a gated community with 24hr manned security, lol.
Posted on 11/30/21 at 10:17 pm to AllDayEveryDay
Yes but not necessarily on purpose. I collect a lot of cash from rentals so I typically have several grand in a safe until I make a deposit. I Try to keep a few hundred on me at all times though.
Posted on 11/30/21 at 11:04 pm to meeple
quote:
What kind of safe is everyone sporting for all this cash?
None, the risk of losing $5-6 thousand due to a home robbery is not enough for me to worry about, if it’s lost in a fire the loss will be insignificant compared to the cost of damage to the house.
Posted on 12/11/21 at 4:35 pm to AllDayEveryDay
Less now than at previous times in my life, but usually around $1K in my wallet, ~$10K between freezer and several gun safes.
Posted on 12/11/21 at 6:37 pm to FCP
$1K in your wallet?! 
Posted on 12/11/21 at 10:34 pm to AllDayEveryDay
I keep a cool 450k in my safe while maxing a 401k, roth, 529, HSA and paying for my 4 kids to go to private school. Me and my wife are both surgeons and her parents pay for us to go on vacation twice a year to Fiji or Jackson Hole. We're in our early 30s.
Posted on 12/11/21 at 10:54 pm to PetroBabich
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