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Re: So how much cash to hold?
[Re: Providence Farm]
#8167692
07/07/24 02:59 PM
07/07/24 02:59 PM
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Joined: Aug 2010
Posts: 718
Southern Wisconsin
Fishdog One
trapper
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trapper
Joined: Aug 2010
Posts: 718
Southern Wisconsin
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After seeing my 401K turn into a 201K twice and losing a job as a tool and die maker that once had two columns of ads in the paper when they still had want ads, and not getting a job for 9 months back in 2009 my idea of emergency fund changed. Without more specifics I started to ladder one year CDs into IRAs, let me get a tax write-off and when I turned 59 could get them out without a penalty, never needed one early. Retired at 62 and lived off of them for 3 years till taking social security, no tax owed on them because little income for 3 years. If the shtf scenario takes place spend all your cash on hand ASAP as it will be worthless quick. I am talking gasoline in cans you can buy, chainsaws, guns, ammo, food, liquor, anything you can trade.
Born twice, die once
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Re: So how much cash to hold?
[Re: white17]
#8167707
07/07/24 03:34 PM
07/07/24 03:34 PM
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Joined: May 2011
Posts: 18,132
Oakland, MS
yotetrapper30
trapper
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trapper
Joined: May 2011
Posts: 18,132
Oakland, MS
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What's enough. Emergency fund with 3, 6, 9, months or a years worth of expenses?
Other cash held for investment opportunities? My Goal has been a years worth of expenses, but I just started thinking I don't need it all in a cash fund just the ability to turn it into cash if needed fairly easy so maybe just 2 to 3 months in an instant available cash account may be smarter?
. I think you have answered your own question. The things you hope to achieve are not mutually exclusive IMO. You can maximize them simultaneously. Many brokers pay a reasonable amount of interest on cash balances in a brokerage account. That money is still immediately available for securities purchases or withdrawal if you need it. Some also offer a debit card to use against that cash balance. A money market account with check writing privileges would also meet most of your requirements and also be available for stock purchases if held at a family such as Vanguard or Fidelity. I think the key line in your question is .........."the ability to turn it into cash". I also agree with Husker above. Some reasonable amount of actual cash on hand is not a bad idea but make sure that any borrowed funds are not costing you more than you might be earning ...........unless that interest expense is tax deductible. I have a savings account through Morgan Stanley (who bought out Etrade), that pays 4.5% APY. I can transfer money from it to my home bank (which can take up to 3 days), or to my brokerage account instantly if I wish to purchase securities. I figure if I need instant cash, I can use my credit card, then transfer the money from the Morgan Stanley account to my home bank to pay off the credit card before it comes due.
Just give me one thing, that I can hold on to. To believe in this livin' is just a hard way to go.
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Re: So how much cash to hold?
[Re: Providence Farm]
#8167710
07/07/24 03:40 PM
07/07/24 03:40 PM
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Joined: Mar 2023
Posts: 2,474
WI
WI Outdoors
trapper
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trapper
Joined: Mar 2023
Posts: 2,474
WI
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I hate to assume, but I'm thinking it's an issue of protection in a bad economy like in 2009, not a shtf scenario.
Get me a beer please.
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Re: So how much cash to hold?
[Re: cotton]
#8167734
07/07/24 04:34 PM
07/07/24 04:34 PM
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Joined: Apr 2009
Posts: 14,150
South Ga - Almost Florida
Swamp Wolf
trapper
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trapper
Joined: Apr 2009
Posts: 14,150
South Ga - Almost Florida
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If SHTF CASH Won't even be fit TP This^^^^ And once folks find out you have gold and silver....you better have plenty of brass and lead.
Thank God For Your Blessings!
Never Half-Arse Anything!
Resource Protection Service
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Re: So how much cash to hold?
[Re: Foxpaw]
#8167738
07/07/24 04:36 PM
07/07/24 04:36 PM
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Joined: Apr 2009
Posts: 14,150
South Ga - Almost Florida
Swamp Wolf
trapper
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trapper
Joined: Apr 2009
Posts: 14,150
South Ga - Almost Florida
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How safe was gold in 1933 when the gov confiscated it or was that a reimbursement for a little over $20 then set a value of like $32 on it so that was a good chunk of change profit for the gov ?
Why would the gov need Fort Knox when they can just let the people hold it for them at no charge and when they need it just call it in? Nah, the gov wouldn't do that would they? One could still have gold just don't get caught using it. Is that thinking even realistic today ? Yes....this thinking is realistic....^^^^^ Remember what Greece did when their economy failed?
Thank God For Your Blessings!
Never Half-Arse Anything!
Resource Protection Service
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Re: So how much cash to hold?
[Re: Providence Farm]
#8167740
07/07/24 04:39 PM
07/07/24 04:39 PM
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Joined: May 2011
Posts: 18,132
Oakland, MS
yotetrapper30
trapper
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trapper
Joined: May 2011
Posts: 18,132
Oakland, MS
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I swear y'all would argue about what color the sky is, lol.
Just give me one thing, that I can hold on to. To believe in this livin' is just a hard way to go.
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Re: So how much cash to hold?
[Re: Providence Farm]
#8167747
07/07/24 04:44 PM
07/07/24 04:44 PM
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Joined: Mar 2023
Posts: 2,474
WI
WI Outdoors
trapper
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trapper
Joined: Mar 2023
Posts: 2,474
WI
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I have 3 dollars in my wallet.
Get me a beer please.
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Re: So how much cash to hold?
[Re: Foxpaw]
#8167749
07/07/24 04:47 PM
07/07/24 04:47 PM
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Joined: May 2010
Posts: 10,888
MN
Steven 49er
trapper
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trapper
Joined: May 2010
Posts: 10,888
MN
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How safe was gold in 1933 when the gov confiscated it or was that a reimbursement for a little over $20 then set a value of like $32 on it so that was a good chunk of change profit for the gov ?
Why would the gov need Fort Knox when they can just let the people hold it for them at no charge and when they need it just call it in? Nah, the gov wouldn't do that would they? One could still have gold just don't get caught using it. Is that thinking even realistic today ? What percentage of the population do you think turned in their gold? They didn't confiscate jewelry. Buy 28 k scrap jewelry if your worried about it. SW, please tell, how much lead and brass is enough?
"Gold is money, everything else is just credit" JP Morgan
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Re: So how much cash to hold?
[Re: Steven 49er]
#8167756
07/07/24 04:54 PM
07/07/24 04:54 PM
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Joined: Apr 2009
Posts: 14,150
South Ga - Almost Florida
Swamp Wolf
trapper
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trapper
Joined: Apr 2009
Posts: 14,150
South Ga - Almost Florida
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How safe was gold in 1933 when the gov confiscated it or was that a reimbursement for a little over $20 then set a value of like $32 on it so that was a good chunk of change profit for the gov ?
Why would the gov need Fort Knox when they can just let the people hold it for them at no charge and when they need it just call it in? Nah, the gov wouldn't do that would they? One could still have gold just don't get caught using it. Is that thinking even realistic today ? What percentage of the population do you think turned in their gold? They didn't confiscate jewelry. Buy 28 k scrap jewelry if your worried about it. SW, please tell, how much lead and brass is enough? Depends on how many people try to take your gold and silver...and how well you can defend it.
Thank God For Your Blessings!
Never Half-Arse Anything!
Resource Protection Service
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Re: So how much cash to hold?
[Re: Foxpaw]
#8167765
07/07/24 05:01 PM
07/07/24 05:01 PM
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Joined: Aug 2011
Posts: 46,888
james bay frontierOnt.
Boco
trapper
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trapper
Joined: Aug 2011
Posts: 46,888
james bay frontierOnt.
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Maybe gold teeth would be the way to go, lol, Pair of visegrips will take care of that.
Forget that fear of gravity-get a little savagery in your life.
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Re: So how much cash to hold?
[Re: Providence Farm]
#8167767
07/07/24 05:02 PM
07/07/24 05:02 PM
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Joined: May 2010
Posts: 10,888
MN
Steven 49er
trapper
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trapper
Joined: May 2010
Posts: 10,888
MN
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Nice deflection SW. How much is enough? 1000 rounds? 2 thousand 5? 10?
They will try and take everything in a societal breakdown. If that is what one is preparing for it's a given one needs defensive capabilities.
You bring up Greece. People in Greece with precious metals faired better than those with euros.
"Gold is money, everything else is just credit" JP Morgan
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Re: So how much cash to hold?
[Re: bfflobo]
#8167769
07/07/24 05:05 PM
07/07/24 05:05 PM
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Joined: May 2010
Posts: 10,888
MN
Steven 49er
trapper
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trapper
Joined: May 2010
Posts: 10,888
MN
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28k scrap gold? Sounds like good stuff. Lol. For sure. For the rest of the gallery, it's a typo. 18k gold. Or 20 and 24 k bracelets or chain. They are out there
"Gold is money, everything else is just credit" JP Morgan
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