Comments on Single Guy Money: Cash is King

@Anonymous: Cash is king!!!!

2009-10-08T19:09:54.524-04:00

@Anonymous: Cash is king!!!!

Yeah, my husband and I are big savers. We have abo...

2009-10-08T14:36:21.944-04:00

Yeah, my husband and I are big savers. We have about $70k in cash right now and no debt except for the mortgage, which we are paying off a little extra each month.

It gave me the freedom last month to quit a job and stay home with my small kids!

I've always been a bit of a cash hoarder. My goal...

2009-09-11T18:26:51.305-04:00

I've always been a bit of a cash hoarder. My goal is to always have a years worth of gross pay in cash and cash type instruments (CDs, EE and I bonds, etc). I call it my "go to h@!! fund". It's very liberating to know that you could just walk out the door and coast for a year or more(not that I WOULD, but I COULD).

cash is the new best thing since Caesar invented i...

2009-09-03T09:59:51.592-04:00

cash is the new best thing since Caesar invented it :)

@frugalgrad: Yep, cash is cool! @Amy: Yep, I agre...

2009-08-27T06:17:33.540-04:00

@frugalgrad: Yep, cash is cool!

@Amy: Yep, I agree that we are being penalized for being savers!

@Anonymous: I'll have to look into precious metals.

@TeeJay: I currently keep my cash in a high yield rewards checking account paying 4%.

I'm just curious. Where do you store the cash? CD?...

2009-08-26T23:11:42.311-04:00

I'm just curious. Where do you store the cash? CD?

And how much do you get in return? Do you employ a CD Ladder?

I like you am a cash hoarded but I see a problem w...

2009-08-26T19:34:43.679-04:00

I like you am a cash hoarded but I see a problem with that. With all the money the government is printing inflation will eat away at your savings.

If inflation is 7% this year, next year your $50,000 will only purchase $46,500 worth of goods. The next year it will only purchase $43,245. Remember, the government more than doubled the money supply.

My advice to hedge against inflation is to buy gold and silver. When inflation goes up so does the value of your precious metals.

I still have money in the stock market but I also ...

2009-08-25T10:28:49.853-04:00

I still have money in the stock market but I also have become a cash hoarder - we have about $53K in cd's, savings, and I-bonds. No mortgage but we have a car loan, which we are going to double or triple up on and get it paid off early. It's costing 5.65% and HSBC is paying, what, 1.45% now? Talk about penalizing savers.

Cash is always good but when you look at the vario...

2009-08-24T15:00:38.163-04:00

Cash is always good but when you look at the various bank charges here in my country most persons are moving towards investments. Even though the stock market is not that stable now it is better than having $100 in the bank and when you go back none is there because it was taken out in bank charges. It is wonderful that you are preparing to assist your sister in college. Not everyone can manage the duties of school and work.

All the best.

Another catchphrase for you: Cash is Cool. I reall...

2009-08-23T18:48:32.139-04:00

Another catchphrase for you: Cash is Cool. I really want to be in your situation right now with a nice amount of cash on hand but I guess I have to work harder at it. Your sister is lucky to have a brother who is in a position that can help her. You buy the domain for your blog but use the blogger platform for free show that you are really careful with your money. Good luck on getting that 50,000$ cash.

I had always wondered whether I was alone in my di...

2009-08-22T12:24:11.772-04:00

I had always wondered whether I was alone in my distaste for the stock market. All of the personal finance books seem to say that the more you invest the better, and that is the surest and sometimes only way to wealth. The stock market just gives me ulcers, and I don't even have money invested!

I try to put a huge chunk of my money in ING, which earns relatively good interest for a bank account.

Thanks for letting me know I'm not alone!

@N.Avery: It's certainly hard to find someone with...

2009-08-21T20:38:24.716-04:00

@N.Avery: It's certainly hard to find someone with similar financial goals. It sound like you are doing great and I hope you keep up the good work!

@Anonymous: I don't make "a ton of money". I'm just careful with what I spend. And no, my Mom never pressures me to help her out. I just feel obligated to do so.

@Annie: That's a nice stash you have there! Keep up the good work.

If "cash" is any money that can't lose value, than...

2009-08-21T16:18:07.881-04:00

If "cash" is any money that can't lose value, than we have about $125k (earning, at this point, up to 4%).

We have another $450k in various investments.

I don't see anything wrong with that balance, although I know a lot of people would. With low job security, we'd rather have the cash available and safe.

I totally agree with you! And kuddos for your will...

2009-08-21T14:11:13.324-04:00

I totally agree with you! And kuddos for your willingness to help your sister!

With owning 2 houses and obviously making a ton of...

2009-08-20T09:40:16.543-04:00

With owning 2 houses and obviously making a ton of money, do you ever get pressure to help your mom out?

i like the way you think even if i am not like tha...

2009-08-20T08:14:48.090-04:00

i like the way you think even if i am not like that. i have high tolerance for risk and so i rarely keep money in the bank. as for helping your sister out i think that it is very noble. its nice to see that there are still some decent pple in this world
http://kenyantykoon.wordpress.com/

I have to give you credit for being a very good br...

2009-08-20T08:08:33.898-04:00

I have to give you credit for being a very good brother and son. I hope I'm in a financial position in the near future to help out my family like that.

Your way of thinking is much like mine. I'd rathe...

2009-08-19T11:43:15.991-04:00

Your way of thinking is much like mine. I'd rather have cash than credit, and what is confusing/amusing lately is that every time I go to the bank to make a deposit, I get offered a "pre-approved" credit card. I have no interest in it, but actually don't believe I'd get it if I accepted the offer, as I don't have great credit.

I am completely on board with you. My cash goal is...

2009-08-19T11:29:20.792-04:00

I am completely on board with you. My cash goal isn't quite as high as yours, but it gives me so much peace to have a large cash cushion.

I wish I could find my own SingleGuyMoney with similar attitudes in my area! I am currently debt-free except for my mortgage and working to have my mortgage paid off by the time I'm 30. Even if I move up in home before then, it will be great to have it mostly paid off and a big cash cushion.

Keep up the great work!