How Much Cash Is Too Much To Keep At Home? 

I can’t wait I’m meeting with one of your investment pros next Wednesday yay

civil forfeiture the cops can steal your cash and not charge you with a crime.

What if your home is burglarized or your home catches on fire? Then what? Home owners insurance companies only cover a small portion of “assumed” cash on hand……..DEFINITELY not 70k

@@gmrrnracr mine will assume up to 150k in cash so do some shopping

@@gmrrnracr is hope you have a fireproof safe if your gonna store 70k safe. But yeah that’s still excessive

@@Postokon I highly doubt that’s true! If so you are paying crazy high home owners insurance

Put it on the bank.

The cost of money can be expensive. Good you use your own money. Smart move.

Well very few can afford a house with cash. XD

I guess your goofy ass will never own a home unless you have 400k sitting around the house lmao

@epop-Berrytwistexactly. you cant get these braindead ramsey drones to accept the average man doesnt have 60k or even 20k in cash to buy a fkn car outright or 400k to buy a home with cash. Credit isnt the devil lmao...what they all do is project their own poor self control out onto everyone else. THEY cant handle credit so the Ramseyites need credit to be the devil so they can shun it and pretend everyone else need to do that too lmao

wrong video

I believe a healthy portfolio has 3 things, at the bare minimum: Exposure to ETFs for increased diversification, Exposure to assets that generate cash flow like dividend stocks, Exposure to market-leading tech.

Wonderful!!! I've recently sold property and aim to invest in stocks, seeking guidance. How can I reach them?

Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.

Index funds - and the S&P 500 will serve you well. But this year might be bumpy for America, so I'd drip-feed money into the market while making sure that uninvested cash is earning good interest.

Research ETFs. Pick one and leave it alone for a very long time ⌛️. Time in the market is always better than timing the market.

My wife and I are raising three grandsons after a death in the family. We eat out pretty often. Mainly when the boys are in school. It's not at all uncommon for me to leave a 50% tip or more if the service and food was great! I just feel grateful to be able to reward those who take pride in their work.

@@deborah7398 Trust and believe that some of us bear a great deal of pride in what we do. I "tip" my hat to you Deborah. May your grandsons be very happy and successful, thankfully you are in their life to help grant the opportunity.

I ofte stop a waiter bfore the check comes AND give them a "GIFT"!! Then not so much tip on the check. They dont have to declare a "gift"!!!!

Easy. Lift the limit or I'm out! They won't care so why should you. Banks are friendly but they are NOT your friends.

Can’t you just increase the limit?

Write a check. Its called a demand deposit for a reason.

Get a new bank.

Not so long ago I tried to pay the dentist $3,k for some work with my atm card. It was refused . I was so embarrassed and the dentist didn't trust me enough to take a check. So I had to charge it on my M/C card, which I did not want to do. I wish I'd had some cash money with me to put down on the counter!

Exactly! Perhaps one month worth of expenses, since most disasters are resolved in a single month or less. And, honestly if the power is out for more than a month, we've got bigger problems than cash...

But the other side is if there's a house fire, there goes your money that's under the mattress

True. We live in Louisiana and this is exactly what just happened. Couldn’t even buy a tank of gas or food without cash

Which is why Dave said $5-10kvil in a home safe (waterproof and fireproof) is OK

I learned this recently. I didn’t take out enough cash before Hurricane Ida and it was over a week before I could get to an ATM and even then it was a struggle to find one that worked. Luckily FEMA was able to provide basic supplies and we were able to get hot food via the generosity of others, but not having at least a few hundred dollars in the house is not a mistake I will make again.

I agree

He gave her advise. Put it in a bank. Put on your listening ears

@@justinballard7242 I think he could have at least told her to shop around for a better paying bank. I didn't like how they poked fun at her either.

I woud say 10k is a nice figure to have in cash

@@justinballard7242 she didn't ask where she should put it. She asked how much to keep at home. Put on your listening ears.

So you don't tell law enforcement about your money. 😀

@@bite-sizedshorts9635 If you get pulled over and they find it..what now..

@@whitegoodman7465why would you be driving with your savings on you?

I'm with you on that one. Just enough currency in the bank to pay the bills. The rest gets traded for real money

Exactly.

It's happening... Not in the form of a "holiday", but bank shutdowns are coming none the less.

So, Mr. Yankee Stacking, where would YOU stash you money that's currently in a savings account????

@@rickadams9 What do you call "REAL" money???

He did say he carries about $1k so probably that’s the amount he keeps on him and at home.

He said..about 10k in a safe! He's not one of those ppl who thinks it's necessary to keep money at home.I do think they ran in the other direction...instead of staying on the path of the question.

So my question is, does it outweigh the ramifications of what would happen. If the bank gets a hacker, economic collapse, ceo greed or just red flags. On large amount of cash getting extracted from your account?

Yup, a house in my town burned down a while ago, it was so hot that their safe imploded. They claimed they had over 200k in cash in there and nothing was recoverable.

@@AKAT1980 Your money is worthless in the case of an economic collapse anyway...

And somebody kicks the door in and puts a gun to your head and says "open it." Hard to hide that big ole safe.

LOL. Sorry to laugh bro. That's a funny story though.

Best to wrap it in foil and put in the freezer. Almost looks like a NY strip.

Your Dad was a smart man

@@sad754ytyou keep cold cash in freezer😂

There

Yeah lol, pay cash means don't borrow money. Not literally paper notes.

@@Bertuzz84 😂😂😂

Caller has to use common sense: Cash in this context doesn't necessarily mean literal cash bills - it means money saved and not financing. Cash isn't the method of payment.

I've heard a ton of stories in person and through his show, but no one quite as oblivious as this person.

@@charliesanders6930 and with reason. That money yiu deposit to the bank is no longer yours, its theirs. Runs on the banks are the main reason for this.

the cops were called for a 2 dollar bill once

They certainly don't know how to give change.

And they don't know how to count.

They may think you are some dealer.

They know what it is, they just don't know how to count it.

This happend in Virginia as well no power for 2 weeks . Glad I had cash

Cash for what? Gas stations are closed or wrecked, stores are closed or wrecked. During hurricane season its not hard to stash up on gas and food and water, and a water purifier.

What’s your address?

@@chrisrodak2854 777 Gunshot lane

@@hubster4477 After a catastrophic event like Katrina, yes the stores were wrecked but places like Lowes and Home Depot brought building supplies (plywood, lumber, screws, et al) and home emergency items (batteries, tarps, et al) out into the parking lot to sell. The buildings were unsafe so you couldn't go inside, but folks could still buy essentials to patch up their homes and try to save what they had left. There was no electricity even to run a cash register, so store employees with a cash box were doing transactions in cash in the parking lot. Exact change was a priority so when you stash cash for emergencies, make sure you have a lot of small bills. If you have cash, you might also be able to get stuff from neighbors, like dry ammo, bottled water, or canned goods. For most emergencies, you stash enough food and water for three or four days, but after Katrina, there was no electricity here for two weeks. and it was six days before emergency services started showing up with MREs and bottled water.

Do you live in a mountainous area because I live in CA and not in an area where wildfires or earthquakes are an issue

CA here, too. You should keep some in your car(s) as well. What says you will be at home when tragedy strikes? I am very un-prepared... most of us are un-prepared. What are you going to do with that cash, when the roads are impassible? What will we do when the water supply is contaminated? What will we do when electricity and gas lines are severely damaged? Cell phones?

Had 30K in our FIREPROOF safe, gone in the wildfires, everyone we know that had fireproof safes lost everything inside the safes, guns, cash etc. The safes (expensive ones) are only made to resist a short lived house fire, not a raging wildfire with high winds (more heat for a prolonged time). Its not that the safe was melting, but the heat inside the safe is so great, anything flammable inside is gone.

Certainly hope you are not using your real name on this YT account.

@@ibberman Do you realize what great service you provided with your explanation ? Thank you !

Yep. They will not take much off the cost of the car unless you finance.

I was going to comment the same thing. These guys are a little out of touch with new car buying these days but they aren't the type to buy new or advise us to buy new. Used car prices are so high right now that buying new is becoming more attractive.

@@aundybkoo Negotiate the price after telling them you're financing it with them. Once you joo them down to the price you want, tell them you changed your mind. You're paying cash. I've done that three times and it works. They get furious and I laugh in their face.

@@mt_goxI contacted a dealership in the next town over and had an emailed quote in hand. The manager’s face was hilarious when the salesman showed it to him.

When buying a car you don't say a word about cash until you have a deal in writing 😊

Well he's worth like 200 million...so it's the equivalent of us broke people carrying like 20 bucks with us.

@@chriscrawl3732 funny cause I was literally trying to calculate the equivalent for me. Lol

That's some people's whole paycheck 🤣

Warren Buffet said he has usually has $400 in his pocket and no more. Look how much he is worth.

Sometimes I carry $100-$200 on me and I think that's too much

Exactly

What's a bank run?

@@carmenlauri6271 When everybody and their grandmother WANTS THEIR CASH OUT AT THE SAME TIME!!! Banks do not actually have ALL of EVERYBODY'S money in the vault!!!!!!!!!!!!

I have a friend whose grandma did the same thing. They found money all over the place!

When my grandma died my mom found hundreds of dollars in the pages of her cook books. Never leave any stone unturned I swear

God Bless You and your father.

That money you found under the carpeting was mine, I put it there for safekeeping. I’ll thank you to return it.

Older people also hide cash in books. My friend was finding bills.

What city and state?! 😅

@@cheerfulmouse lol. Nice try

@@irishman4671 or he could've died before he could

this is a cool plot for a movie

@@xyla2235 I was just thinking about him yesterday. It would be a cool documentary or something. My best guess is that money is still buried.

I probably would have before I realized that I could transfer funds. 🤭

I just write a check.

Some of us take instructions literally and need further explanation or help thinking outside the box

@@issaa3565 I never worked a job in my life and already understood what pay in cash means.

Ant---Lol!(: right?

It’s frightens

dang did it makes you gain weight?? “it freightens me” 😭😂😂

I think she didnt mean nothing bad about it. She just seemed pretty innocent lady.

@@MalachiMunn poem words

Well misunderstandings and differences are what make the world a beautiful place. This world and the USA is so diverse with people from all walks of life with different teachings and upbringing. So although its easy to be a keyboard warrior and pre-jude someone's understanding and their cognitive ability, just don't. She's sitting on 70k in cash, whatever shortcomings she may have, she's still doing well, Let her live and show a little compassion. Have a blessed day.

The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.

how do I get in touch with this consultant that assist?

STEPHANIE KOPP MEEKS, that's whom i work with look her up and thank me later.....

Thanks for the info . Found her website and it really impressive

You can't live in the USA if you are losing money in this market!!!

He just said he keeps $1000 in a money clip in his front pocket

He said 5-10k was fine in this video.

@L Cam $100 a month on what Planet? 😂

@@ClaxtonBay123 my insurance is less than $100 a month…

@@ClaxtonBay123 I pay that with State Farm I also have gap insurance

Yep.

Not entirely true. Your cash in a bank isn't really yours in a physical sense, the bank uses it to give mortgages, small business loans etc. It's only yours in the literal sense when you withdraw it. The banks you mentioned didn't have the physical money to give to everyone that wanted to request it, the money was still theirs though.

The money is gone, in Cyprus, they irreversibly did a haircut on some deposits. In Lebanon, none of the depositors will get anything(I am confident of this, I'm familiar with the criminals running it) we can argue philosophically about who owns what, but the bottom line is, people lost their money.

Do Lebanon and Cyprus have an equivalent to the US FDIC?

And Canada.

I'm a boomer and do the same things.

Now all I need is your address and the times you are usually not at home😀👍🏼😁

@@beautyRest1 honestly, I thought my amount was low. I know people that keep many multiples the amount I keep.

@@MartianAmbassador69 let me know their addresses as well!!😀😅😃😁

@@beautyRest1 🤣

Because his other hip has the .45 and that's not loaded with a money clip. =Huggable not muggable.

Thanks for the advice! I'm new to financial planning and wasn't sure where to start.Any tips on finding a reliable financial adviser or resource to guide beginners?

You're right based on personal experience working with an investment advisor, I currently have over $300k in a well-diversified portfolio, that has experienced exponential growth. It is not only about having money to invest in stocks but also you need to be knowledgeable, persistent, and have strong hands to back it up.

​@@David-we3bx1xm9fHow can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?

​@@Eva.sanchezMarie Ann Treloar She's the licensed coach I use.

Look her up on Google you will find the necessary information and also her web page to make a contact and schedule an appointment with her

Considering that I am only three years away from retirement, it becomes challenging for me to solely concentrate on the long-term perspective. Despite having invested in reputable companies and having a significant amount of funds allocated, my profits have been stagnant. This situation raises the question: Does the current recession and unstable market offer any calculated risk opportunities for generating profits?

I understand your concerns, my friend. I recommend exploring passive index fund investing and expanding your knowledge in this area. Personally, I experienced both successes and challenges when initially seeking a reliable passive income......,>>>

how do I get in touch with this consultant that assist??>>>>>

STEPHANIE KOPP MEEKS, that's whom i work with look her

Thanks for these recommendations.....,,,

Exactly! He misunderstood the question.

Exactly what I was thinking. She obviously doesn't trust the banks, many of which are failing, and she was hoping to get an intelligent & thoughtful answer from these numbnuts.

Agree. They missed her point entirely and should be embarrassed. Did she even get her question answered?

Sure fire way to get it all out there is to say Don't tell anybody, lol

My brother and son knew I had money in the house. I had no problems. But you better trust them.

I learned the power of cash after Hurricane Michael. No banks were open. Everything had to be purchased with cash. Everything! It took s weeks for the banks to open and cash withdrawals were limited. Without cash I would have been in a world of pain. It taught me well.

better not let that money fly away in a hurricane, place a brick on it ! lol.

Cash is what we really need. Maybe if you have extra money, reserve something for emergency n retirement funds but the problems is if you have more. It's good to invest it in stocks of big companies who can give dividends to investors. Just study their business profile. All investments in this world have risks so try in just a minimal amount n if its OK then add more.

*Starter* emergency fund

Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks

@@Lourd-Bab However, if you do not have access to a professional like JUDITH ANN PEACE, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments

@@Johnwilliams086 Oh please I’d love that. Thanks!

@@Lourd-Bab Judith Ann peace is her name

Lookup with her name on the webpage.

Do not allow a search without a search warrant….. cops can get sued for seizures…..without legitimate cause! Having large sums of cash is not illegal….

Dave does mean use actual cash when he says that. Studies show you spend less. He means things like groceries and small items though, not 70K trucks.

She must be a drug dealer.... lol

Bless her I’m crying 😂😂😂😂

Dave should probably change his terminology to “Earned Wages” rather than “Cash”. Would eliminate the confusion to everyone over 60 lol.

What exactly was she imagining when he tells people to pay cash for their second home 🤣

Lol!

I told my husband the same thing.

I wish I had the freedom to go to a hospital in Idahofor shoulder surgery or to have a pre-cancerous mole removed, but I guess all those vaxxer/deniers exercised their freedom first.

@@lmnop01 Vax nazis are becoming like rabid pro lifers. Every conversation has to be high jacked for their self righteous obsession .

Especially Boise to be even more specific.

that 5K in cashiers check, the bank will fill out a form to the IRS..anything over 3K

@@paulbunyun3663 it was over 5 years ago so I’m not concerned

10% of whatever you have? You must not have much.

Good idea. Living in the PRK,we have catastrophic event more than I would have ever liked to have seen. I collect coins and keep cash for emergency. Always be prepared.

Yep the system went down at the grocery the day before Thanksgiving one year. I was standing there with $200 rung up trying to call my husband and explain to him where to find my cash to bring to me, so I could leave. That wasn’t even an emergency. Cashless is a disaster waiting to happen.

RG: Wrong! Only the accounts of those involved in the illegal blockades were frozen. Even with that action, I believe the banks, who actually froze the accounts, are in for some serious law suits.

I agree

Yup, Taking my money out of the bank bit by bit. ( I am Canadian )

I do not trust banks, and politicians are even worse, much worse.

U got it !! Trudeau for jail

how do you pump gas without power?

@@smokinhalf I've see it happen after Hurricane Katrina, almost the whole State of Louisiana, Mississippi and Alabama had no power. They had generators to pump gas, but we had to pay cash for gas and any snacks you purchased. The generators was only used to pump gas so people could evacuate.

You are putting all your trust in people who have shown they are manipulators and cannot - or should not - be trusted.

I was going to comment similarly. Like to carry $100-$200.

So a bite to eat and a tank of gas is enough to get by if everything shuts down?? 😂

@@ronaldswindell1525 yeah until you get to another town to get more

"Emergency Fund"

That’s actually a good strategy that I hadn’t considered. I rarely have actual cash on me. If I have a $20 in my wallet it just means my wife hadn’t found it yet LOL. Not a bad idea to keep $300 to $500 in the home safe just in case you find your self in a situation where you can’t get to your funds for several days.

Not enough in the drawer IMO

@@sarahwaters8262 I'd say at least 3k then.

Put it in a cool, dry place. TravelingWilburys.

If you have a good safe 5-10k is ok

In Canada we dont have that problem the bills are made of plastic 😂

Should have it in a good fire prof case or safe

@@danielsoto_toronto Why is storing money in a cool dry place a problem? That's how most things are stored.

Wise Woman.

if shtf hard, you can always burn it to stay warm

🔑

He never does. Just sarcastic remarks to a lady with a serious question

True. I was put off by the jokes and bullying of a nice person.

You have a strange definition of bullying.

Too busy trying to make himself look cute.

Gas pumps don't operate without electricity, so living in an earthquake prone area, ¼ tank is the bare minimum to have, but preferably a ½ tank.

@@jerradwilson Agreed. Same goes for hurricane zones in hurricane season and winter storms in places that get them. Waiting in line for gas when you should be evacuating or freezing to death in a stuck car is just dumb and often preventable.

But there are more types of risk than a burglar, such as a fire that could start when you are not home, or if you are home it spreads so fast you can't rescue your money and it goes up in flames and cash that has been totally destroyed can't be saved. At the least, keep it in a fire-proof safe.

I always go shopping at the food storage place.

Is that what he meant by something else in his front pocket as well?

Brandon Easton yeah it is

@@be14mi - He's mentioned before that he carries. He's a 1911 guy if you're curious.

Can't do that in Canada unless you want to carry an illegal gun.

@@liveyourbestlife1878 Arizona too🌵

Up to about $5 - $6k. Fireman said keep in a fireproof safe inside a larger metal safe

@@buckybarnes3803 thank you!

Out ??

@@ibberman Yeah out, where I put it is nonya business 🤔.

@@silent1967 I understand, didn't know if you meant some kind of investment young man.

@@ibberman Thanks for the compliment but I'm 61. I have some invested but it is not doing much. Thinking about pulling it out and buying precious metals. I don't need it so I might just try it.

@@silent1967 69 here, so the 1967 seemed young. Ha ha. Anyway, with inflation getting worse the metals may not be a bad idea, but I'm no expert on any of that. At least it will always be there, unlike some other things. You are right about the Banks, I'm not a fan of leaving the money there where it's no longer private.

Scary but TRUE!!

Use a safety deposit box

Rich people try to use cash so they avoid taxes.

Bob, you are absolutely right. My cash is.....dispersed where I can get it, when I need it. Keep enough in my bank to pay bills, no more. No one needs to know where or what I have.

That's simply not true. The IRS doesn't just confiscate people's money. Where did you hear that?

The person stealing your TV will get a great tip or give a great tip to the pawn shop lol

That's not funny. Do you have any idea what it was like to live through a depression?

There aren’t a whole lot of people around anymore who lived through the Depression. And those who are still around, are likely so young, that the depression pass by without their hardly noticing. I only recently learned that I lived through the great recession, and I am by no means young.

There are many people still alive that lived through the DEPRESSION and still member it!...just consider the number of people that's still alive , and not to mention researching the great DEPRESSION