I have some clients that keep cash at home. In March /April 2020, I had multiple clients want to take $10k+ out and keep at their house. Do you keep cash at home? If so, what amount?
Cash at home
- Thread starter BankerCat12
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My dad was a bookie for years in Newport Kentucky. He used to keep cash in coffee cans buried on our property in case of a raid
Remind me, what was that address again?
Thay's why joe hired 87,000 new agents. He wants some of that at home cash.
Yes, lots of cash but have separate safe deposit boxes for cash only and never below $10K at home but in a hidden vault just in case, fireproof and waterproof 
Yes, lots of cash but have separate safe deposit boxes for cash only and never below $10K at home but in a hidden vault just in case, fireproof and waterproof
That's nothing at all. My father has a diamond bigger than the Ritz–Carlton Hotel.
My mother was a bit frightened by Life when she got over 60. She put a $2 bill on the table by her front door. Right by the lamp she left on. If the bill wasn't there when she got back, she planned to just turn around an leave. No thief could resist a $2 bill. That was her plan.
Wasnt bragging about it and I dont think its alot either in the grand scheme of things.
I saw there was new intel today of possible cyber attack on grids here in the States. That is going to F some things up and cash might be king in that world.
I collect some rent under the table. So I keep the cash in a safe and use it for every day spending. I often hire contractors for property work, and prefer to use the ones who will give me a discount for paying them in cash. Tax free income, helping others get tax free income. Beautiful.
Otherwise I'd keep any money in a high yield savings account. Ally is offering 4.25%. Hard to pass that up
Otherwise I'd keep any money in a high yield savings account. Ally is offering 4.25%. Hard to pass that up
My line wasn't really a put down. There's just a funny story by F. Scott Fitzgerald -- The Diamond as Big as the Ritz.
I have $2 x however many baby teeth my daughter still has left.
I keep mine at McGuire's in Destin...
Had a client a number of years ago who died in an accident. He had $145K in his safe, had to hire a special company to drill it, his wife did not know the combination. Lets just say I have reason to believe he paid a lot of his bills in cash
Mother hid $50k all over the house, in jacket pockets, old stereo console. It was all part of a weekly and monthly allowance she got from dad to run the house.
Buddy's brother-in-law passed away in Hawaii. Never married, no kids. His wife could not bring herself to go clean his place out. It was up to my friend. He found $100k in walls behind pictures. This was chickenfeed compared to what he left his only sibling, my buddies wife.
Buddy's brother-in-law passed away in Hawaii. Never married, no kids. His wife could not bring herself to go clean his place out. It was up to my friend. He found $100k in walls behind pictures. This was chickenfeed compared to what he left his only sibling, my buddies wife.
Most money market mutual funds are around 5.18% right now.
That wall was a lot more valuable 3 years ago...I keep mine at McGuire's in Destin...
There's a bar on Cabbage Key that has that. Apparently if a bill flutters down during the year the bar uses it for some local charity.I keep mine at McGuire's in Destin...
Not sure of the count now, but it was $2M a few years ago, and they have to pay property taxes on it.
Yeah the only thing is, I prefer having it readily available from Ally. I believe MM's still take a little longer to pull money out, but maybe that's changed?
Bank money markets are paying better than Ally as well. You can get your money out faster from a local bank MM than transferring it from Ally to your account and then accessing it.
Really? Which ones for you? Some of the banks by me, MM are only offering in the low 3's from what I can see.
With all due respect, no one I know is filing a claim for a theft of $200-$300. Now, if it is part of contents of a house fire, you got bigger problems.
I was actually referring to the fact that inflation is up 16.7% the last 3 years, thus deflating the value of the cash.
I am in Louisville area but many of the banks (minus Chase and PNC) are paying 4.75% or better.
I dont understand why anyone would keep money at Chase if its FDIC insured at another bank. Chase paying .0001%. I
I have virtually zero cash on hand, the vast majority of time, 100% plastic/online payments. $0 at home, $0 in my wallet, maybe about $1 worth of change in my pocket.
Had a kid come by my house collecting money for the local school band over the weekend, and I wanted to give him a donation, but had no cash. And because we were getting ready for guests my wife had moved my portfolio binder with my checkbook (I had left it on the island in the kitchen) somewhere I couldn't find at a moment's notice (she had gone upstairs to shower). I wrote my name/address/cell on a notepad for him and told him to get in touch with me the next day for a donation, but never heard from him.
So I was going to get a $100 and stash it at home this week for such situations in the future...but compared to what others keep on hand that seems like a paltry sum now!
Had a kid come by my house collecting money for the local school band over the weekend, and I wanted to give him a donation, but had no cash. And because we were getting ready for guests my wife had moved my portfolio binder with my checkbook (I had left it on the island in the kitchen) somewhere I couldn't find at a moment's notice (she had gone upstairs to shower). I wrote my name/address/cell on a notepad for him and told him to get in touch with me the next day for a donation, but never heard from him.
So I was going to get a $100 and stash it at home this week for such situations in the future...but compared to what others keep on hand that seems like a paltry sum now!
I use TSPXX but any major firm's money market fund would likely work: I prefer the 100% US Treasury portfolios.
For example:
They're not going to change until people start taking deposits away.