"PARKING" Money........in current prepping reality.....???

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Sourdough

"Eleutheromaniac"
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Discuss the pros and cons of different options for parking money. "NOT INVESTING".......Parking.
 
Speaking of parking. Two people I know parked Toyota and catalytic converters stolen. One was a chief of police in personal vehicle at restaurant in Houston and other was right by courthouse where I work and she is probation officer. He said $2100.00 to replace his. Hers had 4 in it. Wonder what mine has?
 
txcatlady said:
Speaking of parking. Two people I know parked Toyota and catalytic converters stolen. One was a chief of police in personal vehicle at restaurant in Houston and other was right by courthouse where I work and she is probation officer. He said $2100.00 to replace his. Hers had 4 in it. Wonder what mine has?
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Catalytic converter theft is a real thing! Toyota is now selling catalytic converter theft shields as an option for some vehicles.
 
backlash said:
I keep cash parked in my safe. You never know when you'll need it.
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What if it's a fairly large amount of money.......??? Want it as safe as possible, but in the safest institution. Example would be parking the proceeds from the sale of a home for 3 to 12 months.
 
Sourdough said:
What if it's a fairly large amount of money.......??? Want it as safe as possible, but in the safest institution. Example would be parking the proceeds from the sale of a home for 3 to 12 months.
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Maybe put some in a CD. I keep cash parked in savings accounts of a solid bank along with some CDs. While the current rate of inflation will exceed what you gain in CDs, it will gain in value a bit more than savings. Maybe a mix of savings and CDs.
 
Pearl said:
This thread is about "parking" you money!!
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Naa, it's about catalytic converters! :D
I thought what the OP was after was when to bail out of your investments.
The stock market saw a 'mini-panic' earlier this month.
A smart investor always has a percentage of their stuff in cash. What percentage, is up to them.
Sourdough said:
What if it's a fairly large amount of money.......??? Want it as safe as possible, but in the safest institution. Example would be parking the proceeds from the sale of a home for 3 to 12 months.
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It will easily fit in a small safe, just bolt it down. A regular fire-safe is not expensive.
$200,000 in cash will fit in a normal briefcase with room to spare.
 
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I am not 100% sure what you mean.:oops:
You want to discuss where we hide our small stash of cash in our cars?
 
backlash said:
I keep cash parked in my safe. You never know when you'll need it.
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And folks like us can tell you how much of a 'life-saver' it is to have when power is out for 40 miles in every direction....for weeks.
Sure, your stuff in the bank is 100% safe, and insured by the FDIC, but they are among the first to close :mad:.
 
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I've got my cash stash in the bank I've used since I was old enough to see the bank teller over the counter.

I no longer keep big stashes around home. I used to always have $500 put away in the house but now I've scaled that back. I probably should start that back up.

PMs are pretty volatile. When I look at the historical data, it makes me nervous. The main advantage is that unlike cash, PMs will never be worthless. But I don't want to get in now at over 1800 for gold. I'm not convinced that it will be much higher than that 5 or 10 years from now. I should have gotten in when it was at 1200 years ago...
 
Spikedriver said:
I've got my cash stash in the bank I've used since I was old enough to see the bank teller over the counter.

I no longer keep big stashes around home. I used to always have $500 put away in the house but now I've scaled that back. I probably should start that back up.
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Better hope you don't see these signs everywhere:
white-lynch-sign-safety-signs-r-77-64_1000.jpg

Yes, they do exist. I've seen 'em plenty before :confused:.
We always keep $1K+ in the safe.
I don't live paranoid that TEOTWAWKI is certain to happen tomorrow, but I will not be caught with my pants down.:mad:
 
I like to park my money in things that everybody wants and nobody can trace. today's flea market crap is tomorrow's gold mine. Pocket/hunting knives, tools, petty jewelry and old coins. ammunition and some home appliances like iron cookware and high end skillets.
 
Magus said:
I like to park my money in things that everybody wants and nobody can trace. today's flea market crap is tomorrow's gold mine. Pocket/hunting knives, tools, petty jewelry and old coins. ammunition and some home appliances like iron cookware and high end skillets.
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That sounds like investing to me. When you say parking I think short term. Cash is the ultimate short term investment. Everyone takes it, today, and there is no delay in spending it. Most advisors suggest that you have 6 months worth of cash on hand. I follow the advisors that suggest 8 months worth of cash. This is your emergency stash. this is enough cash to pay the mortgage, food utilities, gas, tax, and every other expense you have. Some of this should be "under your mattress", well not literally but you get the idea. Banks are an option. The "S" at the end of banks means plural. Don't put all your eggs in one basket. If you decide to go with banks, use multiple banks and different types, State and federal banks and savings and loans. Sometimes one type of institution will get hit worse than another. Not long ago the big banks got hit hard. Decades ago the S&L's got knocked down, people with all their money in an S&L went hungry and it took years to get their money. You will not make enough interest from a bank to cover inflation.

You want to park some cash? When I think of parking cash I think of something that is readily liquid. Quit selling your guns and ammo, that is a quick way to convert something into cash. Buy components, powder, primers, bullets.

PM's are good but not something I'd buy for a short term investment. Some people can invest in PM's on a day trading basis but they must know a lot more about the market than I. To me PM's are an insurance policy. They have never gone to zero. Wish I had bought gold at $300 and silver at $5. Now lead always has a private market, but if you want to sell a ton of it someone will want to write a check.
 
Long term? Precious metals. Short term? Items I can barter with.
 
Some of the bitcoins/ecoins will pay up to 15% if you park the coins.
 
backlash said:
Wait until this happens in the USA.
You will be glad you have cash on hand.
System glitch preventing payment card usage in Germany and elsewhere in Europe, including at Esso stations

https://article.wn.com/view/2022/05/27/System_glitch_preventing_payment_card_usage_in_Germany_and_e/

System glitch preventing payment card usage in Germany and elsewhere in Europe, including at Esso stations
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Bingo! And for the people worrying about a CME-EMP taking out electric power transmission, they should be more concerned about 'the information superhighway', how dependant we are on it, and the weakness it has demonstrated in the past.
And if you need to buy food from a store and they all have a "Cash Only" sign, handing them some silver collector-coins will only buy you some laughter. :confused:
 
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Supervisor42 said:
Bingo! And for the people worrying about a CME-EMP taking out electric power transmission, they should be more concerned about the 'information superhighway', how dependant we are on it, and the weakness it has demonstrated in the past.
And if you need to buy food from a store and they all have a "Cash Only" sign, handing them some silver collector-coins will only buy you some laughter. :confused:
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Metal is for use when people laugh at the paper.

Ben
 
Supervisor42 said:
It will easily fit in a small safe, just bolt it down. A regular fire-safe is not expensive.
$200,000 in cash will fit in a normal briefcase with room to spare.
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As long as the fire safe is somewhere no one will find it. Fire safes protect from fire but a large screwdriver will pop open the lid and bolting it down makes it easier to get good leverage prying it open. I have no idea how many times I took burglary reports and the owner was stunned the fire "safe" was not safe.

As for a safe, if it is not too heavy to move with a large furniture dolly it is not quite safe enough. Yup, took reports for them being pried open too, they just used a larger pry bar.
 
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