tag:blogger.com,1999:blog-8964596045360803212.post4672918301642763574..comments2023-10-11T04:38:51.793-07:00Comments on Accept The Challenge: Preps: No MoneyChief Instructorhttp://www.blogger.com/profile/13604561415860237705noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-8964596045360803212.post-55068560740193471832010-02-12T02:28:15.429-08:002010-02-12T02:28:15.429-08:00I preach cash also. In almost every realistic wors...I preach cash also. In almost every realistic worst case scenario cash is still useful, nay cash is necessary. <br /><br />How much cash to have on hand is an interesting discussion. Personally these days I keep about a months worth of 'cash expenses' on hand in mixed bills. That is about the amount that I am comfortable with the potential loss (via break in or fire, etc) of at this time. Down the road as our savings and family grow and we own a home (and thus could be more creative with storage) I can see increasing it. <br /><br />We have in the past dipped into our reserves for convenience but always religiously pay it back. Taking $20 out because you forgot to get cash for Saturday nights pizza order is fine, IF you go to the ATM Monday and get $20 then put it back into the reserves. <br /><br />We keep the 3 months total income fund in the bank. Precious metals are purchased and physically stored by us. I look at them as insurance also. Sort of the very conservative portion of our overall financial plan.Ryanhttps://www.blogger.com/profile/09612373437033635765noreply@blogger.comtag:blogger.com,1999:blog-8964596045360803212.post-14368265557803228942010-02-10T07:11:13.995-08:002010-02-10T07:11:13.995-08:00Hermit, yeah, there's always the "Despera...Hermit, yeah, there's always the "Desperado" route!<br /><br />MikeH, great point. Having physical PMs is a MUST. It's interesting to see the disconnect between spot prices and physical PM prices. Having small denomination gold makes it quite portable, but the premium is USUALLY a killer! In checking ebay right now, it's not too bad...Chief Instructorhttps://www.blogger.com/profile/13604561415860237705noreply@blogger.comtag:blogger.com,1999:blog-8964596045360803212.post-87677217529874062632010-02-10T06:57:47.762-08:002010-02-10T06:57:47.762-08:00I think it important to mention that should retire...I think it important to mention that should retirement accounts be nationalized, having PMs in your "physical control" is far better than having it in your "portfolio". <br /><br />Gold in 1 gram bars and / or silver in 1/2 and 1 oz. bars and rounds are easy to hide and perfect units to have on hand should the dollar fail.MikeH.https://www.blogger.com/profile/11511925756474067012noreply@blogger.comtag:blogger.com,1999:blog-8964596045360803212.post-8857057037317200192010-02-09T16:39:41.987-08:002010-02-09T16:39:41.987-08:00I figure it gets that bad, I can go back to robbin...I figure it gets that bad, I can go back to robbing liquor stores and boosting Mexicans on payday. I got one of my wife's old stockings around here somewhere.Anonymousnoreply@blogger.com