cash

[donothing]

When I was young and had no money, I worried about that. Now that I am older and retired and have a nickel or two, I worry about that. My income is military retirement, s.s., pension and two rental properties. Cash in the bank at .55 only earns like $20 a month per 50k. I like to stay liquid.
If all the banks go under, bank accounts will be worthless. If too much money keeps getting printed and put into the economy, cash will be almost worthless.
I keep about 5k in cash in the house. Sometimes the wife and I think about keeping nearly all of our cash in a safe in the house. But then, if it becomes worthless... So, we are stockpiling food and water. Reading too many survivalist forums huh!

 

[JOHNNIE36]

Not a bad idea if you can resell the food and water.

 

[pb4uski]

You're probably also watching the new Revolution TV series on NBC. Get a grip.

Also, check out DiscoverBank or the other on-line banks - only about 0.8% but probably a bit better than what your cash is earning now.

 

[REWahoo]

When I was young and had no money, I worried about that. Now that I am older and retired and have a nickel or two, I worry about that. My income is military retirement, s.s., pension and two rental properties. Cash in the bank at .55 only earns like $20 a month per 50k. I like to stay liquid.
If all the banks go under, bank accounts will be worthless. If too much money keeps getting printed and put into the economy, cash will be almost worthless.
I keep about 5k in cash in the house. Sometimes the wife and I think about keeping nearly all of our cash in a safe in the house. But then, if it becomes worthless... So, we are stockpiling food and water. Reading too many survivalist forums huh!

You need a hobby - preferably one not involving, guns, knives, or explosives...

 

[mickj]

When I was young and had no money, I worried about that. Now that I am older and retired and have a nickel or two, I worry about that. My income is military retirement, s.s., pension and two rental properties. Cash in the bank at .55 only earns like $20 a month per 50k. I like to stay liquid.
If all the banks go under, bank accounts will be worthless. If too much money keeps getting printed and put into the economy, cash will be almost worthless.
I keep about 5k in cash in the house. Sometimes the wife and I think about keeping nearly all of our cash in a safe in the house. But then, if it becomes worthless... So, we are stockpiling food and water. Reading too many survivalist forums huh!

Sounds good to me, being prepared never hurt anyone. It is amazing that the debts of our nation and the money printing of the FED don't seem to bother more people.

 

[Dawg52]

Sounds good to me, being prepared never hurt anyone. It is amazing that the debts of our nation and the money printing of the FED don't seem to bother more people.

It bothers me too, but I'm not going to spend all my time stock piling food and looking for deals on ammo. Nothing wrong with being conservative and having some reserves on hand, but don't live your life in constant fear.

 

[brewer12345]

I suggest you turn off the TV, stop listening to the radio, and limit your exposure to online stuff, especially the media and kook-ville stuff like survivalist forums. You will be a lot happier.

Realistically, you can do what you can do to guard against bad things happening and then that is it. If society collapses you cannot possibly store enough food, water, etc. to survive long term, so have enough for a prolonged power outage or natural disaster and be done with it. If you want to work to make things better, stockpiling food and water isn't the right way.

Get outside more. I am still a wage slave and I have a lot of demands on my time and energy from work, family, a close friend who is in the excrement, etc. You know what? Yesterday I went for a hike/hunt in a nearby state park. I hiked about 8 miles at altitude with a 20# pack and 6# gun, sweated my butt off, and was aching pretty good by the time I got back to the truck. I saw giant, scary piles of fresh bear scat on the trail way in the backcountry (where I saw nobody at all), and ran out of water way too early. I only saw one rabbit (which I missed as he headed for the horizon). But it was a gorgeous sunny day, the aspen and cottonwoods were showing fall colors, I saw an Abert's squirrel for the first time, and I was out of all cell phone range. I am sitting in my cube this morning staring at a pile of stuff I have to do, but it does not bother me in the slightest because the good feelings of lots of exercise and seeing miles of beautiful scenery are still with me.

 

[Richard4444]

Kinda reminds me of Peter Sellers' last line in 'Being There' (1979)... "Life is a state of mind."

 

[dmdunca44]

It bothers me too, but I'm not going to spend all my time stock piling food and looking for deals on ammo. Nothing wrong with being conservative and having some reserves on hand, but don't live your life in constant fear.

+1

I remember, as a kid, people who were building bomb shelters in their basements. Then they were stock piling them with food and water. Then they added arsenals to shoot anyone who'd try to break in.... This was over 50 years ago.

Some things never change. I can't control what happens in the world. I keep a few days of food and water on hand for power outages (we live in earthquake country), but I'm not going to lose sleep over possibilities that I have no control over.

 

[rescueme]

Reading too many survivalist forums huh!

Yes...

 

[JPatrick]

Move to Texas, you'll spend all your time fighting spiders, scorpions and fire ants.

 

[Karloff]

Sounds good to me, being prepared never hurt anyone. It is amazing that the debts of our nation and the money printing of the FED don't seem to bother more people.

+ 1.

 

[W2R]

It bothers me too, but I'm not going to spend all my time stock piling food and looking for deals on ammo. Nothing wrong with being conservative and having some reserves on hand, but don't live your life in constant fear.

+1

Your retirement years are what you have been working for all these years. Don't let your fears destroy the fun you could be having! Find something you love to do, as REWahoo suggests in his post below. And have a wonderful, fulfilling retirement!

You need a hobby - preferably one not involving, guns, knives, or explosives...

 

[REWahoo]

Move to Texas, you'll spend all your time fighting spiders, scorpions and fire ants.

And frickin' frackers...

 

[JPatrick]

And frickin' frackers...

Is that the new Frito Lay Salty Snack?

 

[EvrClrx311]

I don't at all subscribe to this idea that the dollar will be worthless or the end is coming for our economy... however I do point out often to people that if you really felt that the dollar was going to become worthless and stockpiling food and supplies is your safety net, you may want to reconsider.

Lets assume that the economy train wreck happened, and the government collapsed. Municipal workers would all be out of a job. Police wouldn't be patrolling your communities anymore... if anything the army or national guard would be. Martial law would be the best you could hope for. That doesn't stop a starving neighbor who didn't plan from reverting to those primitive instincts that helped humans survive thousands of years ago. They wouldn't think twice about taking from you what you have stock piled... at any cost (attacking you while you sleep even). Humans are a lot more intelligent today and it would be extremely difficult to defend your stash... even with firearms. Your only hope for surviving in a world like that is to hide things where no one will know they exist. In that world... frankly, skills such as hunting and surviving are way more valuable than food, supplies or even gold. In that world, money and gold is worthless (in my opinion).

I choose to continue believing that our way of life will continue... we'll pull out of this and stock piling anything is just diluting your ability to thrive in the rebound. If I'm wrong and you're right... nothing you can save today will help you in that disaster of a future world, at least not for the long run. My advice, stop worrying about it.

 

[REWahoo]

Is that the new Frito Lay Salty Snack?

Similar ingredients, same flavor.

 

[LOL!]

I would never keep cash around the house. The folks affected by Katrina and forest fires learned that their houses flood and fires get started. Their cash burns up.

What seems to work best is to have great neighbors and family and to be on great terms with them. So I recommend you give your cash to friends and family.

A lesson about this is occurring in Iran this month. How is their cash helping them out?

 

[W2R]

I would never keep cash around the house. The folks affected by Katrina and forest fires learned that their houses flood and fires get started. Their cash burns up.

Actually, just about 100% of people that I know here in New Orleans now keep at least a thousand or two in cash in the house at all times. One of the lessons that we learned from Katrina was that ATMs did not work for a while and credit cards were useless with no electricity. This was in the short term until electricity could be restored, which took weeks to months depending on location. Getting cash and filling the car with gas are at the top of a hurricane preparation list.

I live near Houston

 

[LOL!]

Our hurricane prep:
1. Fill car with gas.
2. Board up windows.
3. Leave when no electricity is available (but not before).

Works extremely well so far every time.

 

[brewer12345]

Our hurricane prep: move to a place 1,000 miles from the nearest coast. Enjoy life.

 

[W2R]

Our hurricane prep: move to a place 1,000 miles from the nearest coast. Enjoy life.

Ditto for forest fire prep. Move 1000 miles away from any large forested areas that can become dry tinder during any drought. Enjoy life.

 

[brewer12345]

Ditto for forest fire prep. Move 1000 miles away from any large forested areas that can become dry tinder during any drought. Enjoy life.

Touche. We live within the Denver metro area and nowhere near the forested edges. I figure that if my area gets hit by a forest fire it will mean that the whole city is gone and I have much bigger problems than the house burning down.

 

[cute fuzzy bunny]

You need a hobby - preferably one not involving, guns, knives, or explosives...

Dang. I was just considering a hobby where I'd build guns full of explosives that shoots knives. A Discovery Channel or Travel Channel show is a practical certainty.

 

[GrayHare]

There's no practical way to prepare for everything, but seems wise to me to have some cash on hand in case ATMs go down. If you want additional protection without bulk or risk of inflation keep a few gold coins handy too.