Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 08-21-2014, 09:17 PM   #61
Administrator
Gumby's Avatar
 
Join Date: Apr 2006
Posts: 10,137
I am a survivor of the great Northeast blackout of 2003 . I was trapped in my office in Manhattan for a day and a half with a minimal amount of cash and no way to get more. The ATMs didn't work and no place could process a credit card. I could not get home and it was quite miserable. Since that day, I have always kept at least $100 in my desk drawer at w*rk and several hundred dollars at home.
__________________

__________________
Living an analog life in the Digital Age.
Gumby is online now   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 08-21-2014, 11:49 PM   #62
Thinks s/he gets paid by the post
 
Join Date: Jun 2005
Posts: 1,152
I live in the Philippines. ATMs are not as reliable here and credit/debit cards are not widely accepted. It is a cash economy. Also, I do not know if most hospitals will accept a credit card in an emergency as the *only* payment, they may want some cash up front.

I normally carry around $200 on my person and have an average of about $1000 at home (all in the local currency). If I had a safe, I would keep more cash on hand.

A friend lives nearby and he has an ATM card of mine (but not the PIN). In an emergency, I can call him and he could withdraw cash for me.
__________________

__________________
kramer is offline   Reply With Quote
Old 08-22-2014, 12:23 AM   #63
Recycles dryer sheets
 
Join Date: Mar 2014
Posts: 257
Quote:
Originally Posted by Bestwifeever View Post
Right now we have about $200, left from the $500 we took on a trip. Usually $50 to $100. Nearest ATM is 2 blocks from our house.

When MIL moved into nursing home her kids found a couple of thousand squirreled away among several hiding places in her house. One of you thrift store shoppers might have found a bundle they overlooked tucked into the back of a picture frame or something.

I found about $20K squirreled away at my mother's house.


Sent from my iPhone using Early Retirement Forum
__________________
iac1003 is offline   Reply With Quote
Old 08-22-2014, 12:29 AM   #64
Thinks s/he gets paid by the post
 
Join Date: Jun 2004
Location: No. California
Posts: 1,600
About a decade ago I would get $400 monthly from the ATM for groceries and miscellaneous. I did my shopping at a store that only took cash or ATM. I still get $400, but don't spend cash regularly, so it lasts a few months or more. I not longer shop at the cheap store since they carry very few organics.

I still keep some cash in my safe, about $700 these days. I never use it but feel comfortable having it. Just like the $5000 in my MM paying almost nothing.
__________________
KB is offline   Reply With Quote
Old 08-22-2014, 03:45 AM   #65
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jun 2005
Posts: 8,616
Quote:
Originally Posted by Gumby View Post
I am a survivor of the great Northeast blackout of 2003 . I was trapped in my office in Manhattan for a day and a half with a minimal amount of cash and no way to get more.
Since you were trapped in your office, do you keep a few days worth of food and water in your office? At home? That would seem to be more useful than cash to me.

I was affected by hurricane Sandy. Cash did no good because roads were blocked by trees, gas stations were not manned, and no power for quite awhile. What did good was being prepared with food and water, so that one could shelter peacefully in place for a few days. That's pretty typical in a natural disaster.
__________________
LOL! is offline   Reply With Quote
Old 08-22-2014, 05:21 AM   #66
Administrator
Gumby's Avatar
 
Join Date: Apr 2006
Posts: 10,137
I do have a stash of canned goods and water at home. Enough for at least two weeks. I have bottled water at the office, but no food. If disaster strikes while I'm there, the primary purpose of the cash is to get home.
__________________
Living an analog life in the Digital Age.
Gumby is online now   Reply With Quote
Old 08-22-2014, 08:44 AM   #67
Thinks s/he gets paid by the post
RockyMtn's Avatar
 
Join Date: Jul 2009
Location: North Scottsdale
Posts: 1,230
Keep about $100 in my money clip. Mainly for golf gambling and tips for the guys who clean clubs, valet guys, etc. Keep another $1500 in the safe at home for whatever comes up.
__________________
FIRE'D in July 2009 at 51...Never look back!
RockyMtn is offline   Reply With Quote
Old 08-22-2014, 08:55 AM   #68
Recycles dryer sheets
 
Join Date: May 2013
Posts: 61
Late spring, summer and early fall are the only times of year I worry about having at least $25 / week in the wallet because of my Farmer's Market habit. Only one farmer uses Square.

(I expect as Square, GoPayment, PayPal Here, Spark Pay and other transform-your-smartphone-into-a-POS penetrate, we'll see the use of cash continue to plummet.)

Other than Farmer's Market season, between the two of us we generally have $20 - 40 tops per person on us. And we often do not spend that cash for months at a time.
__________________
footenote is offline   Reply With Quote
Old 08-22-2014, 08:58 AM   #69
Thinks s/he gets paid by the post
Senator's Avatar
 
Join Date: Feb 2014
Location: Eagan, MN
Posts: 3,045
Quote:
Originally Posted by Mulligan View Post
So I assume when you do the cash is moved at night to under your mattress12 inches away from your Glock on the nightstand?
I have a solid fireproof safe. And I actually, I have a Sig... And a S&W or three, and several Dan Wessons, and many others. I didn't have any ARs until a couple of years ago, now I have I think 7, and about 30, 3- round clips.

You can never have too much cash, or guns...

But that is why I recently paid off a mortgage. I now get 5.5% on my former loose cash that is now invested in a 'Mortgage Bond'. it's just a lot harder to get it out now.
__________________
FIRE no later than 7/5/2016 at 56 (done), securing '16 401K match (done), getting '15 401K match (done), LTI Bonus (done), Perf bonus (done), maxing out 401K (done), picking up 1,000 hours to get another year of pension (done), July 1st benefits (vacation day, healthcare) (done), July 4th holiday. 0 days left. (done) OFFICIALLY RETIRED 7/5/2016!!
Senator is offline   Reply With Quote
Old 08-22-2014, 09:09 AM   #70
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 7,374
Quote:
Originally Posted by Senator View Post
I have a solid fireproof safe. And I actually, I have a Sig... And a S&W or three, and several Dan Wessons, and many others. I didn't have any ARs until a couple of years ago, now I have I think 7, and about 30, 3- round clips.



You can never have too much cash, or guns...



But that is why I recently paid off a mortgage. I now get 5.5% on my former loose cash that is now invested in a 'Mortgage Bond'. it's just a lot harder to get it out now.

A couple times a year I have to load up on cash for my gambling trips. I do not like the feeling of having so much cash at home. But the feeling has been mitigated substantially since I purchased my "personal home protection device" along with several loaded clips.


Sent from my iPad using Tapatalk
__________________
Mulligan is online now   Reply With Quote
Old 08-22-2014, 09:36 AM   #71
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
 
Join Date: Mar 2007
Posts: 9,877
I have a missile launcher, 50 vicious dobermans with AIDs and a moat filled with alligators. Oh, and a collection of deposit bottles. Do I win?
__________________
Yes, I have achieved work / life balance.
travelover is offline   Reply With Quote
Old 08-22-2014, 10:03 AM   #72
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
calmloki's Avatar
 
Join Date: Jan 2007
Location: Independence
Posts: 5,459
Quote:
Originally Posted by footenote View Post
... transform-your-smartphone-into-a-POS ...

Nah. I have a cellphone that is already a POS And if our doors aren't open for the breeze at night then at least they are unlocked. C'mon in.
__________________
calmloki is offline   Reply With Quote
Old 08-22-2014, 12:02 PM   #73
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Midpack's Avatar
 
Join Date: Jan 2008
Location: Chicagoland
Posts: 11,968
Far too much, but with bank checking/saving interest rates at almost nil, I don't see a need to worry about cash on hand...no one would ever find my hiding place.
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57

Target AA: 60% equity funds / 35% bond funds / 5% cash
Target WR: Approx 2.5% Approx 20% SI (secure income, SS only)
Midpack is offline   Reply With Quote
Old 08-22-2014, 02:01 PM   #74
Thinks s/he gets paid by the post
robnplunder's Avatar
 
Join Date: Nov 2013
Location: Bay Area
Posts: 2,124
Quote:
Originally Posted by Senator View Post
Yep, in a business account, that's what they do. At least the type I have.
Our former BoA biz account never charged for cash deposits no matter what amount.

Rand mode on. My doctor is charging 3% for bills (for me, mostly deductibles) paid with credit card. Now I need to carry cash for regular check ups. He is also chraging 25 cents per paper record requests. The nerve of my doctor (who is easily making 6 figure income) nickle & dime'ng for every penny is making me consider changing my doctor. It's not the money that is pissing me off. The thought of a wealthy doctor milking pennies out of patients is making me sick. Rant mode off.
__________________
Pura Vida
robnplunder is offline   Reply With Quote
Old 08-22-2014, 02:22 PM   #75
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2006
Posts: 11,017
Quote:
Originally Posted by robnplunder View Post
Our former BoA biz account never charged for cash deposits no matter what amount.

Rand mode on. My doctor is charging 3% for bills (for me, mostly deductibles) paid with credit card. Now I need to carry cash for regular check ups. He is also chraging 25 cents per paper record requests. The nerve of my doctor (who is easily making 6 figure income) nickle & dime'ng for every penny is making me consider changing my doctor. It's not the money that is pissing me off. The thought of a wealthy doctor milking pennies out of patients is making me sick. Rant mode off.
Before you judge the "wealthy doctor" please know that he is a small businessman with significant overhead (probably 30-40% of total income). He needs to manage his income and expenses just as carefully as you do.
__________________
Meadbh is offline   Reply With Quote
Old 08-22-2014, 03:43 PM   #76
Thinks s/he gets paid by the post
mpeirce's Avatar
 
Join Date: Feb 2012
Location: Columbus area
Posts: 1,590
> no one would ever find my hiding place

I wonder if cash hiding places are like password used to be - everyone thinks they have a great spot, but everyone uses the same ones.

And no, I'm not asking where you keep your stash along with the GPS coordinates of your house and when you might be away for a few hours
__________________
mpeirce is online now   Reply With Quote
Old 08-22-2014, 06:18 PM   #77
Thinks s/he gets paid by the post
 
Join Date: Mar 2009
Location: Pittsburgh, PA suburbs
Posts: 1,769
Quote:
Originally Posted by mpeirce View Post
> no one would ever find my hiding place

I wonder if cash hiding places are like password used to be - everyone thinks they have a great spot, but everyone uses the same ones.

And no, I'm not asking where you keep your stash along with the GPS coordinates of your house and when you might be away for a few hours
Well, I will spill the beans on where I keep my cash: An antique Limoges soup tureen in the hutch in my dining room. I have read that thieves head straight for the master bedroom as this is where most folks keep their small valuables.
__________________
WhoDaresWins is offline   Reply With Quote
Old 08-22-2014, 06:42 PM   #78
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,078
Quote:
Originally Posted by WhoDaresWins View Post
Well, I will spill the beans on where I keep my cash: An antique Limoges soup tureen...
Isn't that where everybody keeps it?

After my FIL passed away, my BIL and I went on a 'treasure hunt' to locate where he'd stashed away some cash. He'd told my BIL he'd buried some money in the barn. We found it about a foot below the surface in what was definitely an antique (but not Limoges) soup tureen. $15K in $10's, $20's and $50's - some of the bills dated back to the 1950's.
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 08-22-2014, 06:50 PM   #79
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
Dad was a cash-basis small businessman for many years. He knows to the dollar how much a coffee can and a shoebox will hold if you fill it with 20s, 50s, or hundreds. As the executor of my parents' estate, I very much dread the necessary treasure hunt when the time comes.
__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline   Reply With Quote
Old 08-22-2014, 09:59 PM   #80
Thinks s/he gets paid by the post
robnplunder's Avatar
 
Join Date: Nov 2013
Location: Bay Area
Posts: 2,124
Quote:
Originally Posted by Meadbh View Post
Before you judge the "wealthy doctor" please know that he is a small businessman with significant overhead (probably 30-40% of total income). He needs to manage his income and expenses just as carefully as you do.
Sorry, Meadbh. I know my doctor very well as he has been boasting about his wealth. And 25 cents don't add up to price of a cup of coffee at the end of the month. He's just being miserly.
__________________

__________________
Pura Vida
robnplunder is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
If you (& spouse) made $160K/yr, would you force your kids to wear 2nd hand clothes? swampwiz FIRE and Money 85 08-03-2011 07:10 AM
Cash on hand for emergencies A854321 FIRE and Money 24 01-02-2008 09:32 PM
How much cash to keep?? cardude FIRE and Money 25 06-25-2007 05:47 PM
How much cash (actual greenbacks) do you keep on hand and why? hogtied FIRE and Money 90 04-18-2007 10:50 AM
How much did you have on hand at FIRE time? Rich_by_the_Bay FIRE and Money 15 03-17-2006 01:47 PM

 

 
All times are GMT -6. The time now is 07:56 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.