Current Events > Wouldn't it be reasonable to keep a large sum of hard cash at home in a safe?

(+) Yeah! (+)

In case we get MGS2'd?

How much is a large sum? I absolutely think it's smart to keep some cash handy, but I'm unsure about a "large" sum.

The problem with that kind of logic is that the level of catastrophe required to make it so that cash hoarded in your home is your only source of money is a level of disaster that's going to make that money you have at home worthless too. At that point you may as well hoard bottled water and bullets, or at the very least things that have trade value that you can buy with dollars right now that won't deprecate in value the way a currency might.

I put most of my investments in gold and silver.

What situation could happen where your bank money is completely inaccessible but cash money would be useful?

ItsNotA2Mer posted...

How much is a large sum? I absolutely think it's smart to keep some cash handy, but I'm unsure about a "large" sum.

The same they recommend for savings. Months of current living expenses.

MC_BatCommander posted...

What situation could happen where your bank money is completely inaccessible but cash money would be useful?

s0nicfan posted...

The problem with that kind of logic is that the level of catastrophe required to make it so that cash hoarded in your home is your only source of money is a level of disaster that's going to make that money you have at home worthless too. At that point you may as well hoard bottled water and bullets, or at the very least things that have trade value that you can buy with dollars right now that won't deprecate in value the way a currency might.

It's happened before in places and it didn't turn them into an apocalypse movie. The Blackout of NYC was one. People had to live on whatever cash they had and a lot of times if you didn't have small bills you were out of luck because businesses could not break the bigger bills.

I rescind my previous post. Apparently there was mayhem and murder and robbery and looting all across the city. My b guys.

God_of_6strings posted...

I rescind my previous post. Apparently there was mayhem and murder and robbery and looting all across the city. My b guys.

To be fair, if the quantity of money you're talking about is enough cash in small bills to cover you over an extended blackout for things like convenience store purchases, that seems reasonable.

God_of_6strings posted...

I rescind my previous post. Apparently there was mayhem and murder and robbery and looting all across the city. My b guys.

Well the 1977 blackout resulted in mayhem, but other blackouts were fine.

And I agree with the above, it's not unreasonable to keep a bit of cash on hand in case something temporary like that happens. But it's pretty rare.

i keep a few thousand dollars in cash at home.

MC_BatCommander posted...

What situation could happen where your bank money is completely inaccessible but cash money would be useful?

credit card payments are down for whatever reason. the store's readers could be broken. the service could be having problems. etc etc. or your individual card could have an issue for whatever reason. i always carry at least $100 in cash.

Idk what happened in that game but its generally a bad idea irl.

If its stolen then proving who did it definitely is nigh impossible if they arent stupid. Theres obviously no insurance it ends up stolen and and inflation, especially how bad it is now will eat away at its value hard.

God_of_6strings posted...

The same they recommend for savings. Months of current living expenses.

Yeah, I don't keep that much cash. I keep a couple thousand in cash, tops. I figure if something truly catastrophic happens, cash isn't going to be the thing that saves me.

The first thing in case of chaos that will be worthless is cash money. The only thing they will be worth is used as starting a bonfire

LonelyStoner posted...

I put most of my investments in gold and silver.

but you don't keep the gold in your home right? at the bank?

I have around 150 million Dong in a safe in my home, but thats more from cautionary tales of Vietnamese banks just randomly deciding your card doesnt work anymore and they wont give you a new one for a week or two.

Glob posted...

I have around 150 million Dong in a safe in my home, but thats more from cautionary tales of Vietnamese banks just randomly deciding your card doesnt work anymore and they wont give you a new one for a week or two.

dong is the currency of vietnam? never really heard of it. What is it's value against the american dollar, so like vietnamese don't use like credit cards though, very often at all

TommyVercetti posted...

dong is the currency of vietnam? never really heard of it. What is it's value against the american dollar, so like vietnamese don't use like credit cards though, very often at all

Yeah, its the Vietnamese currency.

Thats about 6 thousand USD.

Credit cards are rare here. I dont have any Vietnamese credit cards.

Debit cards are useable in more upmarket establishments, but its not somewhere you want to b me trying to get by without cash, especially as a foreigner. Theres a QR code payment thing but your bank has to have the functionality to use it, and none of the ones that I can get an account with do.

TommyVercetti posted...

dong is the currency of vietnam? never really heard of it. What is it's value against the american dollar, so like vietnamese don't use like credit cards though, very often at all

Dong is one of the lowest currency. $1USD is like 20k Dong

Rather turn my cock into a penis copter, then fly to New Zealand.

i have a couple grand in a safe along with about $10k in metals. something liquid that i can grab and go fast with if certain things were to occur, but its not a crazy amount. enough for certain situations to blow over, but nothing sustainable in the long run. there are other more important preps for something like that.

I don't see much of a problem with it as long as it's not more than a few thousand or something.

If it's more like tens of thousands, then that really isn't likely to ever benefit you and it's probably better to invest it honestly. Especially considering that there's plenty you can invest in that will at least have some value if the American economy crashes.

Do you stop by the gas station to fill up every day before you go home?

Glob posted...

Yeah, its the Vietnamese currency.

Thats about 6 thousand USD.

Credit cards are rare here. I dont have any Vietnamese credit cards.

Debit cards are useable in more upmarket establishments, but its not somewhere you want to b me trying to get by without cash, especially as a foreigner. Theres a QR code payment thing but your bank has to have the functionality to use it, and none of the ones that I can get an account with do.

many places take u.s cash?

GranTurismo posted...

many places take u.s cash?

Of course not. Why would they?

Glob posted...

Of course not. Why would they?

aren't there like lots of u.s. tourists in hanoi and stuff?

SoiledSnake posted...

aren't there like lots of u.s. tourists in hanoi and stuff?

Yeah but its not the currency of the country. Do many places in the US take Euros?

Glob posted...

Yeah but its not the currency of the country. Do many places in the US take Euros?

so it is very easy to exchange your u.s. currency, at a vietnamese bank?

SoiledSnake posted...

so it is very easy to exchange your u.s. currency, at a vietnamese bank?

Not if you dont bank with them, no.

There are other places to do it though. Currency exchange and gold shops.

Have you never left the US?

I do because I receive SSI benefits on behalf of my brother and thus is subject to asset limits.

Iodine posted...

I do because I receive SSI benefits on behalf of my brother and thus is subject to asset limits.

I know about this, like 2k max in a bank account? Why do they do that? Does this rule make any sense at all? No such limit for pure disability. Heard getting SSI makes it extremely bad usually for that person, it's like many times less than what you would get in disability

Another thing to think about is that if the wrong people find out about it, they might pay you a visit.

JuanCarlos1 posted...

Another thing to think about is that if the wrong people find out about it, they might pay you a visit.

Theres 24 hour security. Im sure it will be fine.

Iodine posted...

I do because I receive SSI benefits on behalf of my brother and thus is subject to asset limits.

Isn't this just scamming taxpayers?

Naysaspace posted...

Isn't this just scamming taxpayers?

Probably but I want the money.

GranTurismo posted...

I know about this, like 2k max in a bank account? Why do they do that? Does this rule make any sense at all? No such limit for pure disability. Heard getting SSI makes it extremely bad usually for that person, it's like many times less than what you would get in disability

Yeah the 2k limit is super annoying. He had his benefits removed for 2 months in late 2020 because of the Stimulus checks.

Iodine posted...

Probably but I want the money.

Yeah the 2k limit is super annoying. He had his benefits removed for 2 months in late 2020 because of the Stimulus checks.

how did that happen? just immediately cash the stimulus checks right? forget how much those stimulus checks were. And they would not pay back those lost 2 months? What is even the rationale for 2k limit in a bank account , is there any?

Iodine posted...

Probably but I want the money.

Yeah the 2k limit is super annoying. He had his benefits removed for 2 months in late 2020 because of the Stimulus checks.

have heard of the 2k ssi limit too. Is there really any at all rationale for it, or supporters of this 2k cap have any reasoning for it?

MC_BatCommander posted...

What situation could happen where your bank money is completely inaccessible but cash money would be useful?

I can think of several short-term ones where having a small stash of cash would be handy, but nothing that would require a large stash (unless we're counting cases where it's more targeted at the particular person, eg. if their account is frozen due to suspicious activity).

s0nicfan posted...

The problem with that kind of logic is that the level of catastrophe required to make it so that cash hoarded in your home is your only source of money is a level of disaster that's going to make that money you have at home worthless too. At that point you may as well hoard bottled water and bullets, or at the very least things that have trade value that you can buy with dollars right now that won't deprecate in value the way a currency might.

Add alcohol and canned food to that list.