Could You Stay in Business or No?

Nuff cash reserves to take off wayyy longer than a month lol

 

I think I could sit for 3 months and not feel it. Not at all bragging or exxagerating. I just thought through the numbers. 3 months with no income would knock out say 1/3 of my savings maybe leaning towards 1/2 if my wife's job hangs in there. After that I'd have to run cheap or maybe just run about anything out of fear.

I'm real curious how other folks are feeling about this now that it is a real possibility.

 

My ex down here in Naples I am shacked up with thinks I am crazy that i tell her to keep all the used bottles and rinse them and fill them from the filtered water.
I drink a gallon of liquids a day. I would be dead the 2nd day with out water.

I explained to her is what if this virus gets bad in our little area and the maintenance engineers in the water department or power department all become ill and a problem develops.

Are you going to pull the head of Water maintainance out of his Ventelator and cart him down to the facility to show you what went wrong.

Going to pick up a window shaker and a small generator and some gas cans this week also , just in case.

Prepare for the worst hope for the best.

 

Yea I flipped my boat to my brother and told him to send me multiple checks and keep them around 5-7 thousand each as I wanted to cash them and hold onto the cash without running it through my account.

I deal with LMCU which is a very large bank. I had to hit several different banks over the week to cash all of them unless I placed a cash order which I preferred not to have recorded.

Than I made rounds for weeks after that to convert all the 20s into 100s.

It is crazy how little cash at hand they have.

 

I should be able to sit at home for up to a year ( food and gas) without doing nothing but I will go out there and make some revenue as long as I can but more selectively if it is too low rates market.
Then it would be more drastic measures, selling house and moving into my rental condominium, and cashing out my IRA accounts...simply digging into my personal net worth...
I hope it won't be like that. Let's not talk about apocalypse but rather 4-6 months of possible hardship.
I am not worried about bank runs too much.
Most transactions are electronic. So I'd prefer to keep cash in the bank.
I would not want to rely on credit cards either. I think they can reduce people's available credits if they had no income.
I'd be certainly more worried if I had $3K truck and 1k trailer payment.

 

Can help educate me here on your thought process?

 

Your brother writing several checks to the same party for 5-7 thousand will raise many more red flags with the IRS than your cashing them. If he gets audited and they see where the money went, take a wild guess who they're going to be looking at next for an audit?

 

Cash makes me feel Warm and Fuzzy.

 

The checks all legally came out of his Schwab investment account.