Large sum of money

[WAN]

Hi. I recently came into a large (well, for someone poor like me anyway) sum of money, in my bank account.

I need an extremely secure way of storing this money, or, failing that, I must convert this cash into some sort of things of value.

the point is, I do NOT want this money in my bank account at all. This is very important.

Ideas?

Thanks

[Mor3BL7]

Eagle Eye?

[RoundElephant]

Buy gold bar and a large safe. Bolt the safe to your floor. And start hoarding gold.

How much money are we talking about any way?

[Yggdrasil]

^ She's not Jewish...

[.it]

Buy gold bar and a large safe. Bolt the safe to your floor. And start hoarding gold.

How much money are we talking about any way?

this is actually reasonable. invest in a safe or something, or find a great hiding spot and invest in gold, the value will probably increase.

maybe a swiss bank account, or another account overseas.

[jbshl1]

Eagle Eye?

Nah more like wanted.

[Bender]

Umpa lumpa doopity doo i've got the perfect puzzle for you.

[X61]

What's a lot of money to a chink? $20?

[RoundElephant]

this is actually reasonable. invest in a safe or something, or find a great hiding spot and invest in gold, the value will probably increase.

maybe a swiss bank account, or another account overseas.

Nobody uses swiss bank accounts, and it is very expensive just to set it up.

Gold retains it's value.

[Cegstar]

Prepaid Visa card, and keep it on yourself all the time. It's all in one place, and is out of the bank.

Keep the visa either on yourself (where you can feel it constantly) or in a very secure place.

[Transparent]

Prepaid Visa card, and keep it on yourself all the time. It's all in one place, and is out of the bank.

Keep the visa either on yourself (where you can feel it constantly) or in a very secure place.

Except you begin losing money after a few months. If that doesn't bother you, or you plan on spending it all before that time comes, good idea.

[Cegstar]

Except you begin losing money after a few months. If that doesn't bother you, or you plan on spending it all before that time comes, good idea.
I have one from TD Bank which doesn't make you lose any money...

[WAN]

^ She's not Jewish...

1. Very nice

2. i am, however, a chink though, so theoretically i could have a lot of money (but i dont; i am one of them mutant chinks)


Anyways, just to give a bit more info:

I need a way to put my life savings away in a safe (this is very important, after all, it's my life savings) way that is easily retrievable. This kind of rules out gold, because its so cumbersome, also, putting it in a safe is not a very secure way of storage. People could break into our house and just take it. Besides, it is not always easy to convert gold to cash (i think, anyway) in a sufficiently fast manner.

My aim here is to avoid being found out by the government that i have so much money.

[WAN]

Except you begin losing money after a few months.

How does that happen?

you mean the credit card company just takes your money?

[Yggdrasil]

1. Very nice

2. i am, however, a chink though, so theoretically i could have a lot of money (but i dont; i am one of them mutant chinks)


Anyways, just to give a bit more info:

I need a way to put my life savings away in a safe (this is very important, after all, it's my life savings) way that is easily retrievable. This kind of rules out gold, because its so cumbersome, also, putting it in a safe is not a very secure way of storage. People could break into our house and just take it. Besides, it is not always easy to convert gold to cash (i think, anyway) in a sufficiently fast manner.

My aim here is to avoid being found out by the government that i have so much money.

Oh shit, I forgot you're Canadian. Hide that money wherever you can, just don't let the government tax it. DON'T. Investing in gold or silver seems like a good idea. Actually, investing in silver is a brilliant idea right now. I think it's down, yet reserves worldwide are dwindling. Boy, if I had a couple K's lying around, I'd sure as hell invest in something like silver.

[Cegstar]

How does that happen?

you mean the credit card company just takes your money?

As far as I understand, it's like interest. But instead of adding to your bill, they take it off the prepaid amount.

[WAN]

Oh shit, I forgot you're Canadian. Hide that money wherever you can, just don't let the government tax it. DON'T. Investing in gold or silver seems like a good idea. Actually, investing in silver is a brilliant idea right now. I think it's down, yet reserves worldwide are dwindling. Boy, if I had a couple K's lying around, I'd sure as hell invest in something like silver.

Hmm..

but the problem is, with things like silver and gold, it is not possible to quickly convert it into cash, should I need the money.

Besides, where would i store it? like I said, burglars could always break into the house and just take it. Besides, i can't really get a safe that's bolted to the floor because 1. it is not my house (i rent); and 2. i might move anytime

[bardabag]

Safe deposit box?

[The English Gentleman]

If its america then if you think the black second coming really is going to reinstate the assault weapon ban then a load of ar15 receivers should do the trick. otherwise I would say a bank account with HSBC, even with the Madoff things its still in the best position of all banks. but if you really cannot have a bank account then I wouldm advocate someone elses you really really trust (this does not mean a gf, or even a wife). Failing that a reputable safety deposit box which has no links to organised crime, as it only increases the chance it will be raided and you will lose your money (since I assume you have made this cash illegally (I just checked my HSBS premier account, its all their) and thats why you cannot have it in a bank account).

[Yggdrasil]

Hmm..

but the problem is, with things like silver and gold, it is not possible to quickly convert it into cash, should I need the money.

Besides, where would i store it? like I said, burglars could always break into the house and just take it. Besides, i can't really get a safe that's bolted to the floor because 1. it is not my house (i rent); and 2. i might move anytime

WAN, there's always a huge market for commodities. Anyhow, since you plan on this being your life savings, I seriously suggest finding yourself a nice broker to get you a decent deal on silver.

Just look at this (http://findarticles.com/p/articles/mi_hb5255/is_16/ai_n30893678/pg_3) chart. Thanks to the absolute shit the economy is, commodities are down. If you're serious about investing, do it soon. After this, Silver's never going to go back down, only up.

That chart also sort of correlates to your concern about being able to sell it off. If you do plan on long term investment, your stuff is going to sell almost instantaneously should you sell it in the near future (20 years)

[RoundElephant]

Gold is not cumbersome at all, in fact it is less cumbersome then cash.
Gold is $27 a gram. A twenty weighs 1 gram.

Create a hiding spot under a floor panel near the edge of your room. That is how my friend hid drugs from his snooping parents.

If it is hardwood lacquer over it so it is completely inconspicuous.

[Yggdrasil]

There is no need to actually physically own the commodity.

[RoundElephant]

Or you get a sweet deal on a car on craigslist. Then resell it for more then you bought it for once you get a house. Then do the whole gold and safe thing.



BTW what's wrong with keeping it in the bank?

[Yggdrasil]

BTW what's wrong with keeping it in the bank?

The dividend she'd get would pale in comparison to the amount she could make by investing in some lucrative commodities.

[Cegstar]

Or you get a sweet deal on a car on craigslist. Then resell it for more then you bought it for once you get a house. Then do the whole gold and safe thing.



BTW what's wrong with keeping it in the bank?

Sounds like a welfare scam...

[WAN]

If its america then if you think the black second coming really is going to reinstate the assault weapon ban then a load of ar15 receivers should do the trick. otherwise I would say a bank account with HSBC, even with the Madoff things its still in the best position of all banks. but if you really cannot have a bank account then I wouldm advocate someone elses you really really trust (this does not mean a gf, or even a wife). Failing that a reputable safety deposit box which has no links to organised crime, as it only increases the chance it will be raided and you will lose your money (since I assume you have made this cash illegally (I just checked my HSBS premier account, its all their) and thats why you cannot have it in a bank account).

Hi. I think you have an interesting point however you talk in a disjointed way (no offense), such that I actually dont quite know what you are trying to say.



WAN, there's always a huge market for commodities. Anyhow, since you plan on this being your life savings, I seriously suggest finding yourself a nice broker to get you a decent deal on silver.

A broker? Elaborate please? Also, link/s if possible?


Just look at this (http://findarticles.com/p/articles/mi_hb5255/is_16/ai_n30893678/pg_3) chart. Thanks to the absolute shit the economy is, commodities are down. If you're serious about investing, do it soon. After this, Silver's never going to go back down, only up.

I never said anything about investing. You are reading your own interpretation into what I wrote, no offense.


That chart also sort of correlates to your concern about being able to sell it off. If you do plan on long term investment, your stuff is going to sell almost instantaneously should you sell it in the near future (20 years)

Perhaps I didn't make myself clear.

I was not concerned that I might not be able to sell it off. I was concerned that it might not be readily convertible into cash. Of course, keep in mind that I have no experience with the buying or selling of precious metals so I could be talking out of my ass.

What I meant to ask was, is it possible at all to convert actual, real, physical, the kind you hold in your hands gold/silver into cold, hard cash, within a matter of minutes? Ignoring whether I will be making a profit or taking a loss. That is not my concern.


Gold is not cumbersome at all, in fact it is less cumbersome then cash.
Gold is $27 a gram. A twenty weighs 1 gram.

Thank you sir. I abolutely had NO idea that gold actually weighs less than paper money.

So, suppose I have 1000 grams of gold, which would be one kg of gold, would it be feasible to carry it on my person at all times? Please note I am not talking about the weight. I can handle lugging one kilo of stuff on me. What I am asking is the size/volume. Would it be obvious to people that I am carrying something on me, would it stick out in an obvious way? Sorry I do not know how "big" one kilo of gold is.



There is no need to actually physically own the commodity.

I appreciate your help and everything however please do not try to change my mind.

I said I wanted actual physical commodity, and that is what I intend to get.

Or you get a sweet deal on a car on craigslist. Then resell it for more then you bought it for once you get a house.

Your idea is good in theory however in practice it's almost impossible to make a profit re-selling a car. I owned two cars in my life and I lost big money on both.

The dividend she'd get would pale in comparison to the amount she could make by investing in some lucrative commodities.

You keep talking about stuff that nobody is even talking about.

Seriously, who said anything about investing?

Sounds like a welfare scam...

Why do you think that?

[Cegstar]

For the welfore scam accusation, it was just a random guess.

[Yggdrasil]

In that case, WAN, I don't really know much that I can tell you. Most of the gold one would buy would be from a broker, and even then you'd never actually see the gold. But, since you want to actually hold on to the gold, we're on a whole other ballpark. If you mean to, say, buy a couple of gold ingots and physically store them in your house, then you might be able to get one from a pawn shop. You'd have to be extremely delicate, though. Pure gold is like slightly wet clay. Little flakes would skim off of it by handling it, it can chip, and a whole other sleuth of problems would ensue as a result of handling pure gold.

I would actually recommend investing in something a bit less complicated, say baseball cards? ;) Just kidding

[RoundElephant]

My friends brother made 16 k on cars in 2 years, he started out with a 1997 civic and just kept buying and selling for incredible profits.

He just sold a suburu sti for 3000 more then he bought it for.

[RoundElephant]

Gold is 19.3 g/cubic cm.

so one cubic centimeter is worth over 500 dollars.

So a gold bar the size of an ipod(keep it mind it is much heavier) is worth over $30,000 (if my math is correct)


Just wrap it in a bunch of aluminum foil so it doesn't loose any of it's mass.

[Cegstar]

Gold is 19.3 g/cubic cm.

so one cubic centimeter is worth over 500 dollars.

So a gold bar the size of an ipod(keep it mind it is much heavier) is worth over $30,000 (if my math is correct)


Just wrap it in a bunch of aluminum foil so it doesn't loose any of it's mass.

Which iPod?

[RoundElephant]

120gb classic

[Yggdrasil]

No one buys gold by the pound/kilo anyhow. It's bought by troy ounces, which are approximately 30-31 grams if I remember correctly.

[Yggdrasil]

WAN, I just found you a great site (http://www.goldprice.org/gold-price.html)

[WAN]

In that case, WAN, I don't really know much that I can tell you. Most of the gold one would buy would be from a broker, and even then you'd never actually see the gold. But, since you want to actually hold on to the gold, we're on a whole other ballpark. If you mean to, say, buy a couple of gold ingots and physically store them in your house, then you might be able to get one from a pawn shop. You'd have to be extremely delicate, though. Pure gold is like slightly wet clay. Little flakes would skim off of it by handling it, it can chip, and a whole other sleuth of problems would ensue as a result of handling pure gold.

You dont seem to be able to comprehend English.

I asked a very specific question. Is it possible to convert physical commodity into cash within minutes? I don't know why you didn't even acknowledge it by saying, "as for that question, I do not know the answer", at least that way I can move on to someone else who might have an answer.

You are annoying to begin with, and now you are quickly becoming useless to me. I only hope zok will soon implement the ignore button.


I would actually recommend investing in something a bit less complicated, say baseball cards? ;) Just kidding

The sad thing is you probably genuinely thought you were being cute/funny.

[Leshrac]

Bullion coins.

Gold coins that have exactly the same value in the entire world and that you can convert back and forth at any jeweler / exchange office.

International Currency Code : XAU

Or if you just had thought about it... RENT A SAFE IN THE SAME BANK. 100$ a year ain't going to kill you and if you don't tell anyone, nobody's never going to know about it since they're (for most banks) ANONYMOUS.

[WAN]

Bullion coins.

Gold coins that have exactly the same value in the entire world and that you can convert back and forth at any jeweler / exchange office.

International Currency Code : XAU

Thank you sir, for your advice.

One question though: are bullion coins traceable?


Or if you just had thought about it... RENT A SAFE IN THE SAME BANK. 100$ a year ain't going to kill you and if you don't tell anyone, nobody's never going to know about it since they're (for most banks) ANONYMOUS.

I don't understand why people keep trying to change my mind.

I made it very plain that I do NOT want to put anything in a bank.

I didn't have to account myself really but people keep bringing it up and it's pissing me off so I am gonna give my reasoning, in the hope that you (plural) will shut up about it.

I do NOT trust banks. In theory, they could just confiscate your things (money, savings, gold coins, stuff in the safety deposit box), or say that they lost them in a fire or whatever, or even just generally give you a hard time retrieving things that rightfully BELONG TO YOU. I don't need this fucking nonsense. And please, please, PLEASE do not try and convince me that banks are trustworthy or that I am being unduly paranoid. You do this, and you can be very sure that I will put you on ignore once we have the ignore function.

This is not to say I don't appreciate people's advice and suggestions, though. I do. I just really don't need to have people try and change my mind, and I hope people will understand.

[all_for_war]

drugs for short time investment

[Leshrac]

One question though: are bullion coins traceable?


Usually not but some countries put serials on high priced ones (in case they're stolen they're automatically 'blacklisted' in the entire world).

[Rayzzor]

wan, you were desperate for money on page (3) of bad ideas, where the hell did you find so much money that now you need to hide it?? mail it to me, i'll put you on a payroll and direct deposit it back to you weekly.... I promise

[AsianSurprize]

Asians are fucking dirty. But... you should just bury the money.

[stdismas]

Dang...this isn't that complicated. I know you're worried about burglars, but if they can't find the money, they can't steal it. Buy a diversion safe that resembles a 2-liter bottle of soda, and keep it at the back of your fridge with the cash hidden inside it. I know from experience that $18,000 in cash is a stack of hundreds less than a foot high, so you should be able to wad up whatever it is you've got and hide it somewhere thieves wouldn't look. Cut a slit in an inconspicuous part of your mattress and stuff it in there. Get a couple diversion safes shaped like clocks, or electrical outlets. Cut open an old coat, line the coat with your cash and sew it back up again, then hang it with some other old, ratty clothes in your closet. Pry up a corner of your carpet, hide it in the floor and push the corner down again. Just be creative.

[Doctor]

Silver is 27$ a gram not gold.

Gold is not cumbersome at all, in fact it is less cumbersome then cash.
Gold is $27 a gram. A twenty weighs 1 gram.

Create a hiding spot under a floor panel near the edge of your room. That is how my friend hid drugs from his snooping parents.

If it is hardwood lacquer over it so it is completely inconspicuous.

[RoundElephant]

Silver is 27$ a gram not gold.

Please don't speak out of ignorance. I am correct. Sliver is less the 50 cents a gram.

[Nisko]

Please don't speak out of ignorance. I am correct. Sliver is less the 50 cents a gram.

Link to Wiki article for critical damage.

[Varagner]

This is what I would do with a large sum of money that needs hiding, buy some car doesn't matter what soemthing that looks shit and is old so its unlikely to be stolen, replace the locks with some new stuff, add a decent alarm, and when ive got it parked at my residence remove some critical part thats easy to put on and off - it depends on the car and how much time u want to spend bringing it back up to a state u it can be driven in. Take out the fan belt, just keep it so the car aint going no where without that part.

Then id go to the rear seats put in some fireproof safes and stuff them with cash, you could attach a small safe to the underside of your car if uve got enough room and clearance and load that safe with cash. Use your imagination on where you can put it

For the cash id keep about 70% in $US, then fill the rest with wherever you are- say North America 20% CAD and 5% in pesos and the other 5% whatever, depending where your going.

[RoundElephant]

This is what I would do with a large sum of money that needs hiding, buy some car doesn't matter what soemthing that looks shit and is old so its unlikely to be stolen, replace the locks with some new stuff, add a decent alarm, and when ive got it parked at my residence remove some critical part thats easy to put on and off - it depends on the car and how much time u want to spend bringing it back up to a state u it can be driven in. Take out the fan belt, just keep it so the car aint going no where without that part.

Then id go to the rear seats put in some fireproof safes and stuff them with cash, you could attach a small safe to the underside of your car if uve got enough room and clearance and load that safe with cash. Use your imagination on where you can put it

For the cash id keep about 70% in $US, then fill the rest with wherever you are- say North America 20% CAD and 5% in pesos and the other 5% whatever, depending where your going.

I think that is a stupid idea. Cars are way ore vulnerable then houses. Why not just buy a medeco lock for your house?

[Trix Are For Kids]

Buy a safe with the inside made of gold. If some halfass thief looks in it, they'll just say "WTF!!! no valuables"? and be off.

[Equinox]

If you're looking to hide cash around the house (I haven't read most of the thread), hide your cash in wall sockets (Light switches etc).

You're obviously limited by the amount you can put in, but if you hide it in every socket in your house, it can add up to a considerable amount.

[fourpercent]

If you're looking to hide cash around the house (I haven't read most of the thread), hide your cash in wall sockets (Light switches etc).

This could work. (not many people randomly search in your walls) :)

If there's a fire though... you're screwed. :(

[Equinox]

This could work. (not many people randomly search in your walls) :)

If there's a fire though... you're screwed. :(

Hmm...

You could try getting a fire blanket, and making little bags for the money to go in...

Also, if your house is brick, and old enough, you could take a few bricks out (chisel and hammer along the cement surrounding the bricks), hollow them somewhat and stick the cash in there, then put the bricks back in place and spread a very thin layer of cement around the brick, so it looks normal but you can get it out if you need to.