What do you do with cash now? What's safe?

[ElAzul]

Let's say I have a buddy that's hitting the road with the fam in the RV to relocate somewhere less liberal minded and bringing a $100k slush fund for "relocation". He's concerned about bringing the cash for tons of obvious reasons and also concerned about cash becoming the new dinair sometime in the future. What would be a good move to keep the funds liquid and stable? Precious metals, coins, catalytic converters or?

 

[gqchris]

Let's say I have a buddy that's hitting the road with the fam in the RV to relocate somewhere less liberal minded and bringing a $100k slush fund for "relocation". He's concerned about bringing the cash for tons of obvious reasons and also concerned about cash becoming the new dinair sometime in the future. What would be a good move to keep the funds liquid and stable? Precious metals, coins, catalytic converters or?

I never understood the scared of cash thing. Unless I was unarmed, load it in a duffle bag and hide it in RV if needed. Cash will always have value, just not inflation proof, but I dont see it going away.

Now if you dont have a weapon, and someone knows, you may have some problems.

 

[pkbullet]

If a 100k being stolen or lost is more than upsetting, like life damaging than that's a no. To some people a 100k is not a huge part of their net worth, it's like carrying around a couple grand for the rest of us.

 

[ElAzul]

I never understood the scared of cash thing. Unless I was unarmed, load it in a duffle bag and hide it in RV if needed.

Now if you dont have a weapon, and someone knows, you may have some problems.

Fire, theft, accident, police, there's lots of reasons but you keep rocking on. He's got plenty of guns
Something like this perhaps

 

[ChiliPepperGarage]

I never understood the scared of cash thing. Unless I was unarmed, load it in a duffle bag and hide it in RV if needed. Cash will always have value, just not inflation proof, but I dont see it going away.

Now if you dont have a weapon, and someone knows, you may have some problems.

Look up "civil asset forfeiture". LE can confiscate your cash and it will cost you a ton to get if back if even possible.

 

[ElAzul]

If a 100k being stolen or lost is more than upsetting, like life damaging than that's a no. To some people a 100k is not a huge part of their net worth, it's like carrying around a couple grand for the rest of us.

Thanks for offering zero input to someone less baller than you hope yore 3" feels bigger after that post

 

[Canuck 1]

Gold for preserving wealth, cash for day to day

 

[angiebaby]

Sure. But how do you sell $100,000 or even $50,000 of gold when you decide you want to convert it to cash? Just go down to the local coin shop? LOL

 

[2Driver]

I'd never carry anywhere near that amount of cash unless I was going to be hard shopping in the next few weeks, even then.

If it's a slush fund I assume it's for spending in the next 12 months or so. Personally, I put in a top tier FDIC bank in checking or MM or both. You aren't going to make anything, and you aren't going to lose anything except to inflation. That's assuming you want it immediately liquid, but even stocks are liquid if you have a day.

 

[WhatExit?]

Buy a boat and tow it behind the RV. Sell it for way more than you paid it when you need to cash out.

Or, buy 50 spots in the Speed UTV line and watch that investment skyrocket

 

[pkbullet]

Thanks for offering zero input to someone less baller than you hope yore 3" feels bigger after that post

Did I miss type or did you miss read? I'm pretty sure I included myself in the couple grand category.

 

[EmpirE231]

Fire, theft, accident, police, there's lots of reasons but you keep rocking on. He's got plenty of guns
Something like this perhaps

wtf that's wild! can't believe the guy maintained composure....

#1. Don't give permission for the search
#2. Be armed
#3. I'd just carry the cash in a locked small fire safe in the RV, to help protect from fire... Or deposit into a trusty bank, that you can withdraw from once you reach your destination.

 

[monkeyswrench]

I'm no baller, by any stretch of the imagination. I have driven cross country with some fairly large sums though. When I was doing the car show thing, I was usually bringing back majority of the cash sales, as the boss didn't want to take it as carry on for his flight. In those cases, the money was packed away with inventory, and loaded into the box van or trailer.
With my personal travels, I'd keep no more than 5k in the cab with me, usually in my console, in a bank bag with a withdrawal slip for the amount, as well as c.c. receipts for fuel stops. The other money was usually locked away in a jockey box on the trailer, along with tools and such.
The withdrawal slip and the receipts were there to show I had a bank account, and wasn't "hiding" anything. Only been stopped once, and that is the next thing...don't do anything stupid. I was caught in a weird toll lane thing outside of Denver. Unfamiliar area, towing a 40ft flat deck...couldn't change lanes in time. My fault, got lit up. Was asked my residence, destination and business. Picking up an old Ford in Iowa, personal and not for hire. He asked if I had cash, and I said I did and the amount in my bag. He asked to see the bag, and I handed it to him...sweating bullets because even 5k is a lot to me. He thumbed through it, and handed it back. He was nice enough to let me on my way with a warning.
There are certain highways more prone to being hassled. Any of the major drug paths, I10, I17, I40 etc...those are guys looking for out of state plates with a bad light or an unsafe lane change.

 

[RandyH]

I would keep 20K liquid and put the rest in a Capital One internet bank account. You can pay bills right from your online account and earn alittle interest on it till you get relocated. Then find a solid locally owned bank with a good reputation.

 

[Ace in the Hole]

Look up "civil asset forfeiture". LE can confiscate your cash and it will cost you a ton to get if back if even possible.

This would be my fear. We keep considerably less cash around that we used to. Safe Deposit somewhere, or a nationwide bank? No way I'd drive around the country with anywhere near that level of cash on me for any period of time. Too many incidents of CAF around....all you need is one bad/dirty cop with a chip on his shoulder and the money is gone and you have a long road ahead to maybe get some of it back.

 

[CLdrinker]

Fire, theft, accident, police, there's lots of reasons but you keep rocking on. He's got plenty of guns
Something like this perhaps

WTF

 

[ElAzul]

Did I miss type or did you miss read? I'm pretty sure I included myself in the couple grand category.

My bad I read that as $100k is pocket change to you but to my defense you offered zero help

 

[ElAzul]

Sure. But how do you sell $100,000 or even $50,000 of gold when you decide you want to convert it to cash? Just go down to the local coin shop? LOL

If things got bad enough materials like gold will be the only currency to feed yourself etc when yore bank card is shut down and cash is worthless.

 

[pkbullet]

If things got bad enough materials like gold will be the only currency to feed yourself etc when yore bank card is shut down and cash is worthless.

At that point I think guns and ammo are what feed your family.

 

[C_J_J_C]

$19,900 in Cash
$100 in Quarters
& $80K in Fidelity Money Market Account

 

[boatnam2]

I would just put in a few different banks and throw away what's left when its no good anymore, it wont matter we will have bigger problems to worry about when cash is no longer good in America.

 

[gqchris]

Look up "civil asset forfeiture". LE can confiscate your cash and it will cost you a ton to get if back if even possible.

Never thought of that, good point sir!

 

[ChumpChange]

Let's say I have a buddy that's hitting the road with the fam in the RV to relocate somewhere less liberal minded and bringing a $100k slush fund for "relocation". He's concerned about bringing the cash for tons of obvious reasons and also concerned about cash becoming the new dinair sometime in the future. What would be a good move to keep the funds liquid and stable? Precious metals, coins, catalytic converters or?

I’d just put it in the bank. Can easily withdraw it at any time. Carrying cash is pretty dumb these days. I hate even having small amounts in my car with all the people breaking into things these days. In an RV? What happens if there are out and the thing lights on fire? Insurance doesn’t cover it and that’s a big nut to lose which is what @pkbullet was alluding to.

 

[SummitKarl]

Sure. But how do you sell $100,000 or even $50,000 of gold when you decide you want to convert it to cash? Just go down to the local coin shop? LOL

yup!!!!

 

[clarence]

$100 Cash
$19,900 Checking Account
$80,000 Money Market Fund

 

[was thatguy]

Post it on a boating site for starters...

 

[Blow It Up]

Buy a new 21 foot tunnel. Problem solved!

 

[Sportin' Wood]

If things got bad enough materials like gold will be the only currency to feed yourself etc when yore bank card is shut down and cash is worthless.

Condoms, Bullets, multiple 5 gal buckets of rice, personal hygiene products, fish antibiotics are all things you should definitely convert that cash into and haul around.

 

[89Scores]

Fire, theft, accident, police, there's lots of reasons but you keep rocking on. He's got plenty of guns
Something like this perhaps

That's crazy! I'm sure there is plenty of illegal activity with cash but you could tell the marine vet was pretty honest and forth coming. I think I would have been furious, probably would have earned myself some steel bracelets.
As far as any advice what to do with it. If you don't want to invest it, put it in a few different bank accounts so you can pull it out pretty quickly.
If you do want to invest it. I would put half in Stocks and crypto then the other half in a real estate syndication where you can get bought out or ride the full project.

 

[lbhsbz]

If things got bad enough materials like gold will be the only currency to feed yourself etc when yore bank card is shut down and cash is worthless.

why? Gold isn't good for anything aside from plating electrical terminals.

 

[Gonefishin5555]

Nobody really is asking the right question. Was the money obtained through legal means and reported on his taxes? If so just put it in the bank. Diversifying out of cash can include a lot of stuff. Equities, bonds, precious metals, real estate(you can buy publicly traded dividend paying REITs), a little crypto wouldn't hurt, maybe even collectibles.. If he anticipates needing it over the course of the next two years he should just leave it as cash. If its illegal he should spend it away asap and save his legally obtained funds.

 

[Canuck 1]

Sure. But how do you sell $100,000 or even $50,000 of gold when you decide you want to convert it to cash? Just go down to the local coin shop? LOL

Actually, yes

 

[was thatguy]

It won't be the only currency, but you miss my point. This guy is looking to store his wealth safely and have it accessible when the time comes for him to plant new roots somewhere. He's not asking where to put his $$ in case SHTF down the road. If he were to purchase physical gold intending to hold on to it for the short term, it's not very easy to turn it back into cash. You can't use a stack of gold coins or bullion to purchase a home.

Well...you can, but crypto is easier.

If I had $100K today that I didn’t know how to store I’d buy almost any crypto because they are at extremely low levels after yesterday’s bloodbath.
Put it into a .com wallet with a cool metal debit card and hit the road.

 

[was thatguy]

A guy I work with FIL sold his house in LA a few years back for 60 bitcoins.

Like a few hundred thousand dollars at the time.

Now 60 bitcoins are worth around $3.5 million on average...less today in this slump.
People buy stuff all the time with it.

 

[endobear]

No help here but in the early 80s my great uncle rolled into town with a new motor home. Took my dad and I out to breakfast. Came out and his MH had been broken into. He had alot of cash on him apparently. Alot.
Come to find out years later his stepson and a buddy had followed him from Bakersfield to Phoenix. When we went to breakfast was the 1st time he was away from.the coach for any extended amount of time and they broke in and took the cash.

 

[McKay]

yup!!!!

Yes, exactly that.

 

[was thatguy]

Sure. But how do you sell $100,000 or even $50,000 of gold when you decide you want to convert it to cash? Just go down to the local coin shop? LOL

 

[traquer]

I don't think a bank is an option guys, that's why he's asking.

The simplest would be to be a stout fireproof safe with the cash hidden somewhere in the RV. Unless someone steals the RV you're good. Next best option would be to trade the cash for gold at various local gold dealers. Word is the precious metals should appreciate in the next year or so due to inflation so you'll make a few bucks for your trouble.

Also don't tell anyone anything, don't even respond to this thread.

 

[rrrr]

Let's say I have a buddy that's hitting the road with the fam in the RV to relocate somewhere less liberal minded and bringing a $100k slush fund for "relocation". He's concerned about bringing the cash for tons of obvious reasons and also concerned about cash becoming the new dinair sometime in the future. What would be a good move to keep the funds liquid and stable? Precious metals, coins, catalytic converters or?

He had better be extremely careful about transporting that cash. Most states now have civil forfeiture schemes that allow their police and other agencies to confiscate cash, and courts have upheld their rights to do so.

There are hundreds of stories online about this. A common example is someone carrying $10,000-$100,000 to purchase vehicles ranging from a work truck to a rare and valuable restored classic car.

Law enforcement is looking for the smallest traffic infraction or vehicle fault to initiate a traffic stop.

Police are looking for out of state plates, and a further class of appearances by the driver, like race, age, clothing, and other metrics. The police bring a canine to the traffic stop, it alerts, and that gives them the legal right to search the vehicle. It is extremely common for a large amount of $100 bills to contain traces of illegal drugs, which the canine alerts to.

Law enforcement and the courts follow a script that has been blessed by appeals courts. They take the money, and the owner has to prove beyond doubt the money is legitimately clean. That can take years.

In too many places, law enforcement can still seize cash or property without proving a crime. States have begun to enact protections, but there's more that policymakers can do to rein in policing for profit.

Civil forfeitures often occur without any judicial proof aside from vague assertions that assets are "likely" connected to criminal activity. In many states, prosecutors don't even need to file criminal charges to seize cash, cars or homes.

But the most perverse issue with civil forfeiture is that it turns the presumption of innocence on its head by requiring owners to somehow prove their property was not related to criminal activity. Because proving a negative is nearly impossible, most give up.

The Continuing Perversity of Civil Asset Forfeiture

In too many places, law enforcement can still seize cash or property without proving a crime. States have begun to enact protections, but there's more that policymakers can do to rein in policing for profit.

www.governing.com

 

[RiverDave]

Fire, theft, accident, police, there's lots of reasons but you keep rocking on. He's got plenty of guns
Something like this perhaps

That’s fucking crazy. I know quite a few people that roll around with more cash than that.

 

[J&k beer can]

First off I'd never tell the cop I have cash.....
And If your going to roll with big cash time to clean wash it so the police mutt don't detect drugs on it..

 

[Paradox]

Gold is probably the safest. $100,000 is roughly 56 oz (less than 3 and 1/2 pounds - at todays spot price) and is easy to conceal. Way smaller foot print than one thousand $100 bills. Less than 3 rolls of eagles.

Back when I was into it, I had good luck buying and selling through Apmex and SDbullion. Hit one of their specials and you can buy for $60 or less over spot. They also pay over spot (at least for US bullion) when it is time to sell.

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[RiverDave]

First off I'd never tell the cop I have cash.....
And If your going to roll with big cash time to clean wash it so the police mutt don't detect drugs on it..

That whole deal is a fucking sham..

If the guy grabbed the bag and threw it in a bush, it has his scent on it. It has the owner of the cash scent on it.. it’s the only thing on the side of the road that doesn’t smell like everything else that has been sitting out there..

No shit the dog is gonna alert on it.


The reason this guy lost his cash is he was way to passive with the cops allowing them to continue the “illusion” that what they did was legal and correct.

Mind blowing that anyone could think this was “ok” on any level.

Nobody would be leaving with ten dollars of mine until we had the supervisors, half the police department, city manager, news channels, etc.. I’d be calling anyone and everyone I could google on the side of the road.. and I wouldn’t let them take the cash period.. let alone a 100k. F that.

If they wanted to escort me for safety to the police station to resolve it.. fine. But they can keep their dick beaters off the bag of cash.. if you let them get possession of it you are gonna have a hard time getting it back.

 

[bonesfab]

A 100k in cash in hundreds isn't really that big of stack of bills. only about 6-7 inches thick. Not hard to hide. Break it up into smaller stacks and hide it wherever. Only in the movies does it fill up a suit case.

 

[RiverDave]

A 100k in cash in hundreds isn't really that big of stack of bills. only about 6-7 inches thick. Not hard to hide. Break it up into smaller stacks and hide it wherever. Only in the movies does it fill up a suit case.

If the cops are searching the car they are bound to find a couple stacks. If they find a couple they are gonna really search it. I wouldn’t even try to hide it.. but I sure as shit wouldn’t let them take it.

 

[bonesfab]

Just double bag it and put it in the shitter tank. The cops or dogs won't go there.

 

[RiverDave]

I do find it odd though that the cops would think this is something so unusual that they feel they have a right to seize it.

Almost all the “flippers” I know that are buying and selling sand cars and boats etc.. routinely have a 100 or more on them etc.

If I got stopped and someone grilled me on why (which I find laughable to begin with because it’s none of their biz). I’d just tell them I’m going to go buy a boat.

 

[clarence]

I don't think a bank is an option guys, that's why he's asking.

Why not?

 

[riverroyal]

Good news i dont have enough cash to roll around the country with.
Just enough to run to the habit for lunch

 

[angiebaby]

Why not?

Reason #1-If you put your money in a bank you are losing between 4-10% each year due to inflation.

Reason #2-"Those who do not study history are condemned to repeat it."-George Santayana

Don't you remember the bank failures of the early 90s? The mid-2000s? This is nothing new. Things could go sideways with the American economy at any moment. They may not, but we are at a tipping point. He wants to hedge on something secure in case the economy and/or the dollar collapses. If you don't think this is at least a possibility, then I envy you.