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Old 12-04-2020, 10:08 AM   #41
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2.5% in actual cash in a Rewards checking account paying 1.75%
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Old 12-04-2020, 10:23 AM   #42
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We have 24% in cash, CDís, and stable value. We set up our 3 legged stool early (pensions, SS, and portfolio). Since SS is still a long ways off we use these stable sources as a replacement for now.
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Old 12-04-2020, 11:29 AM   #43
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Refill back up to (3 months expenses + 10k) at the start of each quarter, reinvest the excess dividends, so <1% cash.
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Old 12-04-2020, 12:43 PM   #44
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As RobbieB said a FAT Chunk. So that any expense, (Even a moderately expensive car) and a new AC, 2 new 9ft Patio Doors, Pool Resurface, New Screen Enclosure etc. would not worry me as we have a lot of cash in 5 year CDs and do not want to incur any penalties.
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Old 12-08-2020, 04:37 PM   #45
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Ok, so I want to ask a slight twist on this question.

In reading through the posts on this thread it looks like most everyone here who says they have "cash" has it in an account somewhere. Fair enough.
And there were a few snickers about the Dave Ramsey caller who said his elderly father had $500k in actual cash on hand.

That leads to my question:
If you have an actual "Bank Holiday" where you really CANNOT get to your "cash" in any institution but you need currency what kind of shape are you in? i.e. how much actually currency do you have or do you think you should have on-hand for such an emergency?
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Old 12-08-2020, 04:46 PM   #46
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A year or two of base expenses in cash. Everything else is in Vanguard or Fidelity funds.
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Old 12-08-2020, 04:51 PM   #47
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Originally Posted by frances View Post
Ok, so I want to ask a slight twist on this question.

In reading through the posts on this thread it looks like most everyone here who says they have "cash" has it in an account somewhere. Fair enough.
And there were a few snickers about the Dave Ramsey caller who said his elderly father had $500k in actual cash on hand.

That leads to my question:
If you have an actual "Bank Holiday" where you really CANNOT get to your "cash" in any institution but you need currency what kind of shape are you in? i.e. how much actually currency do you have or do you think you should have on-hand for such an emergency?
I usually have between $20 and $150 ready cash in my pocket. Maybe $15 in coins in the coin cup and car console.
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Old 12-08-2020, 05:08 PM   #48
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I keep between $500 and $800 in $20's in the house, just in case I run across something for sale over the weekend and the local seller prefers cash. From memory I've used it to buy power tools, kayaks, and washer/dryers.
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Old 12-08-2020, 05:13 PM   #49
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I do not think these answers standing alone are helpful as a basis of comparison because so many long-term circumstances affect how much cash one holds. For example, (a) some may have parents or children that they may need to care for and support for an extended period of time which expenses are difficult to predict, (b) others, like myself, have a significant percentage of their investments in real estate and require cash to buy and sell properties or interests therein, and (c) others may be receiving most of their income through very secure pensions and have less of a need for cash holdings.

Nevertheless, to answer your question, I keep about 20% in CDs and Money Markets. That 20% represents about 12 years of typical expenses.
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Old 12-08-2020, 05:18 PM   #50
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one year is enough in cash for me
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Old 12-08-2020, 05:26 PM   #51
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Quote:
Originally Posted by frances View Post
Ok, so I want to ask a slight twist on this question.

In reading through the posts on this thread it looks like most everyone here who says they have "cash" has it in an account somewhere. Fair enough.
And there were a few snickers about the Dave Ramsey caller who said his elderly father had $500k in actual cash on hand.

That leads to my question:
If you have an actual "Bank Holiday" where you really CANNOT get to your "cash" in any institution but you need currency what kind of shape are you in? i.e. how much actually currency do you have or do you think you should have on-hand for such an emergency?
I reject the premises of the question, but I'll answer it anyway.

First, I am 51 and have never had an emergency that required cash. Even further, I think the likelihood of such an emergency requiring cash drops over time because more and more places accept electronic payment, whether that be credit card or Paypal or Venmo or bitcoin.

Second, my bank doesn't have bank holidays that last more than a day or two. To the best of my recollection, my bank has never been closed for more than a day in my 51 years.

To answer your question, I have $5 in literal cash.

The most common example I see cited for having hundreds to thousands of dollars in cash on hand is for buying "good deals" at estate sales or garage sales or off Craigslist. To each their own, but I don't do that and if I did would not consider it to fall under the definition of "emergency".
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Old 12-08-2020, 05:33 PM   #52
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Originally Posted by frances View Post
...That leads to my question:

If you have an actual "Bank Holiday" where you really CANNOT get to your "cash" in any institution but you need currency what kind of shape are you in? i.e. how much actually currency do you have or do you think you should have on-hand for such an emergency?
very very good shape.
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Old 12-08-2020, 06:22 PM   #53
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Guess I'm running with scissors because I only have < 0.5% in cash.
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Old 12-08-2020, 06:40 PM   #54
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I keep 7 years of expenses in cash, 12x in bonds and 45x in equities.
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Old 12-09-2020, 05:56 PM   #55
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Originally Posted by frances View Post
Ok, so I want to ask a slight twist on this question.

In reading through the posts on this thread it looks like most everyone here who says they have "cash" has it in an account somewhere. Fair enough.
And there were a few snickers about the Dave Ramsey caller who said his elderly father had $500k in actual cash on hand.

That leads to my question:
If you have an actual "Bank Holiday" where you really CANNOT get to your "cash" in any institution but you need currency what kind of shape are you in? i.e. how much actually currency do you have or do you think you should have on-hand for such an emergency?
Very rarely in my life have I used or gotten cash only during an emergency or potential emergency. Once was during the 2003 Northeast USA/Canada blackout. I needed to buy a cigarette lighter to light some candles. The local mini-mart was open but took cash only, of course. The lighter cost 75 cents. Another time was when Y2K arrived, January 1, 2000. I took out some extra cash (about $160) in case there was some banking screw-up. There wasn't.

I keep about $50 in my wallet and another $100-$150 in my apartment, refilling my wallet as needed. I don't spend nearly as much cash these days compared to as recently as 3 years ago when I was still square dancing (admission fees were cash only) 2-3 times per week.
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Old 12-09-2020, 10:55 PM   #56
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I used to keep about 3 years expenses in a money market fund but now that is down to 1 year which funds my monthly automatic withdrawal. I keep an additional $600 or so in my gun safe for rainy days and currently have $15K extra in checking as travel money seems to just accumulate unspent. I'm now 67.5 but still can't make myself pull the trigger yet on SS so I keep that in my back pocket in case times get tough.
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Old 12-09-2020, 11:57 PM   #57
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Curious what percent other have in post tax cash accounts in their portfolio?

Also, part of me wants to invest this cash in SOMETHING, but looking at CD rates and bank saving rates, why bother?
I have about 6.3% of post-tax cash, squirreled away in TreasuryDirect I bonds.

I have a lot more pre-tax cash or cash equivalents in retirement funds, some in my wife's 401k stable value fund, but much of it in a short-term T-fund that I use as collateral to write cash-covered puts.

I see your point about having accessible cash that you can tap without triggering a big tax bill. At this point, even my TreasuryDirect account has a lot of tax-deferred interest. It's 36% to be exact.

If I need to raise a lot of cash for a large expenditure, I guess I can sell stocks in my Roth accounts, and spend that. My Roth accounts are 7.5% of investable assets.

PS. My Roth accounts are 100% equity. If I need to liquidate them, then I will buy more stocks in other accounts to maintain my preferred AA.
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Old 12-10-2020, 12:11 AM   #58
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I keep 7 years of expenses in cash, 12x in bonds and 45x in equities.


Is that this total? Meaning you have 7 years expenses in cash + 12x expenses in bonds + 45x in equities? Or is each separate?
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Old 12-10-2020, 02:42 AM   #59
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right now we're at 1.9% cash. we're stockpiling as we work to build that up to a couple of years of expenses prior to retirement.
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Old 12-15-2020, 01:27 PM   #60
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Officially I am about 10% cash (MMF, Ally savings, CD) but I am actually a bit more than that when I factor the taxable STB account that I consider an additional cash-stash. What am I doing with soooo much cash? Waiting for the right time to spend it, I guess. Cruise lines are shut down, Covid scare has gotten my attention and I realize that the safest place to be is home in my CCRC. I will spend it later on, meantime I will keep adding to my cash-stash.
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