Jogeephus
Well-known member
With all the uncertainty in the economy do you think it might be wise to build up some cash reserves to have on hand just in case?
Personal Finance Question
- Thread starter Jogeephus
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No, but I would move money from the higher risk stuff and into longer term mutual funds or some thing with good history. There are some great deals to be made on houses and land right now so real estate could be a good thing also. Now is not the time to "play" the stock market.
Just my opinion
IF your going to do some thing convert your money to goods you can trade. When the gov. approves the $750 Billion dollar bail out cash will be worth the same as convient store TP. ;-) Maybe convert it to nickles, dimes, quarters, ect... metal prices are high.
Just my opinion
IF your going to do some thing convert your money to goods you can trade. When the gov. approves the $750 Billion dollar bail out cash will be worth the same as convient store TP. ;-) Maybe convert it to nickles, dimes, quarters, ect... metal prices are high.
backhoeboogie
Well-known member
Strategic planning Jogee?
Absolutely.
Absolutely.
1982vett
Well-known member
Jogeephus":1w1rmg63 said:
The short and sweet version of the stories I remember being told about the last depression was something like: The country folk didn't have any money but had goods to trade and the city folks that had money didn't hav anything to buy.
larryshoat
Well-known member
Yes, I've been keeping a little more cash these days . A guy my dad shoots sporting clays with went to the bank and got $2000, the bank manager came out and ask him why he was taking it out, he told him it was none of his dam business . That does tell me that the banks are keeping an eye out for people withdrawing money .
Larry
Larry
OP
OP
Jogeephus
Well-known member
Thanks. I'm thinking of building up an emergency fund just in case. I have a CD that has matured. I think I'd just as soon not draw any interest as to take the chance of it getting tied up for a spell. Did you know they fill out forms on you if you take out over a certain amount? I guess now I'll be on a terrorist watch list or something.
ga. prime
Well-known member
The CDs I've got only lose one month's interest for early withdrawal. Not exactly tied up. Not exactly an Illiquid asset like for instance a $500,000 mortgage on a $50,000 house.
You'll be on Big Brother and the Holding Company's watch list. You too can be a mortgage lender!
You'll be on Big Brother and the Holding Company's watch list. You too can be a mortgage lender!
newrancher
Well-known member
No paper money, totally worthless, a little silver a little gold, and lots of lead. Now Im on the watchlist with ya jogee.
jcummins
Well-known member
How do you do that when you're retired and just making ends meet?
grannysoo
Well-known member
jcummins":5leibref said:
Or still raising kids, cows, & dogs. And still spending $$$ on institutes of higher learning.
I only wish I had the money to save up.
Red Bull Breeder
Well-known member
I think i would rat hole the cash.
OP
OP
Jogeephus
Well-known member
ga. prime":ucmvo3m5 said:
What is the paperwork all about? Its my money so what's it to them?
Speaking of mortgages, I bought a house a few years ago and the deal almost fell apart before closing. Turns out they had 3 mortgages on the place and at closing they walked out still owing over $50,000 to one of their creditors. Fella's wife was in shock as I'm pretty sure she was planning on having some extra cash during their vacation they were fixing to go on. I was asking myself HOW? Now I understand the wisdom of John250's words - "they walk amongst us".
grannysoo":ucmvo3m5 said:
I'm in the same boat. Really haven't been able to save money in the last three years. What money I do have feel I have worked to hard for and done without too many nice things to let some pencil pushing SOB take it away from me due to their greed and extravagant lifestyle. I'm just thinking of circling the wagons. Unfortunately I don't really have enough wagon's to make a full circle if you get my drift.
skyline
Well-known member
newrancher":11t88wa3 said:
After having my wife's purse stolen out of our locked car last night, I have a fresh perspective on this thread. I agree with this post, if you are going to have large amounts of cash in your home, it probably is a good idea to invest in lead as well.
jcummins
Well-known member
skyline":289avnc2 said:
And if this current economy crisis goes wrong.....there is going to be a lot of desperate people out there that are really hurting. Theft will become rampant. I feel like not only circling the wagons but digging a hole and crawl in
OP
OP
Jogeephus
Well-known member
jcummins":2dkc4t25 said:
My mom went to China a few years ago and she saw these little vegetable gardens. In most gardens were little igloo looking huts. She learned that the gardener would sleep in the hut when the garden was ready to pick to prevent theft. I doubt things could ever get that bad here since the one's that normally steal are to lazy to pick their own food. Breaking in a house is a different story though so i do plan on having ample supplies when I circle the wagons.
pdfangus
Well-known member
Jogeephus":sqgtax1d said:
Well I think when it gets that bad, we better be danged good shots with serious intent or it won't matter.
When Our cities decide to go and pilfer the countryside it will be more like what happened in Rhodesia at the end of apartite. they will not come in ones and twos and they will be armed. They won't be taking what they need. they will be taking everything and burning the rest.
Yall remember ......like the last time when the Yankees did it.
Jogeephus":3k14b6xw said:
These forms you speak of are aimed to prevent money laundering by drug dealers, tax evasion by business owners, etc. If the money is in your account and you withdraw it you are in no danger. The bank will fill out the form if it is over the trigger limit, but you won't get in any trouble. It is when people deposit large amounts of cash and there is no obvious reason why, or when people cash large checks.
Jogeephus":27r0v7ul said:
You mean like under the mattress? We keep some cash on hand, but I think it's foolish to keep a lot of money in the house. You can't be at home all the time to protect it.
Or if you mean reserves as in a bank, yes, I think that's a good idea. We pulled half of our investments out of the stock market earlier this year and now wish we had pulled it all out. If your money is in an FDIC-insured bank, you should not have to worry about it. You should pay attention to insurance limits though. We've got money in more than one bank, just in case.....
