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Where do you keep your money?

Discussion in 'Business & Tax Advice' started by DeniX3, Apr 27, 2013.

  1. DeniX3

    DeniX3 Regular Member

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    Hello BHers,

    just want to know where do you guys keep your money? Spread all between many banks or just 1 bank? Under your bed? Car?

    After the Cyprus story, its clearly proofed that a bank account is not a safe place for your money, like you thought before.
     
  2. Rozla

    Rozla Newbie

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    Well I'm thinking to buy a solid proof safe too put all my money in, with all the noisiness from the bank lately it's getting intrustable if someone is getting decent money.
     
  3. hurn

    hurn Power Member

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    invest on properties and deposit on local government banks
     
  4. Naaoki

    Naaoki Registered Member

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    Keeping my money safe into Paypal, Mohaha
     
  5. Aaric

    Aaric Elite Member

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    under bed
     
  6. Known

    Known Regular Member

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    Buy gold? I don't think I'll have any problem with my money, I use a pretty well known commercial bank in my country. All money in 1-2 accounts, if you don't trust your bank, open a bank account in another country with a more reliable currency.
     
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  7. fbfbfb

    fbfbfb Jr. VIP Jr. VIP Premium Member

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    lol invite me to your bedroom :D

    Btw i just do Fixed Deposit in local private bank.
     
  8. DeniX3

    DeniX3 Regular Member

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    Its not that i don't trust, but you cant keep lets say your blackhat money in an bank account. Also i would never buy Gold with it. Remember question was were do you keep your money and not where to invest. ;) And gold is bad now because its going down, how i heard.
     
  9. mickyfu

    mickyfu Jr. VIP Jr. VIP Premium Member

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    I buy monkeys with my money, then I stick my monkeys in Paypal.
     
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  10. emaloy97

    emaloy97 Junior Member

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    I used to stockpile money in liberty reserve accounts
     
  11. ageofz

    ageofz Registered Member Premium Member

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    I keep mine mostly in an FDIC insured bank. I don't really spend it unless it's on cash flowing assets, mostly in the form of various online projects. One day, I'll invest in long-term assets like commercial real estate, index funds, other companies etc. The key is to diversify and always have backup plans in place in case something happens. Spread your wealth around. The only way I'd keep money in a safe would be if I was trying to evade taxes. The likelihood of me being robbed is much higher than a major U.S. FDIC bank failing.
     
  12. partymarty4870

    partymarty4870 Elite Member

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    I come from a land downunder
    I buy property and gold
     
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  13. ghettogong

    ghettogong Regular Member

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    Asian founded banks would be the best. A safe is good too but you will to be sure the firetrucks can reach the area where you store the monkeys in case of fire.
     
  14. Alpha.

    Alpha. Power Member

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    You make a good point there regarding the cyprus fiasko.. My tip is to diversify... spread your cash out! Invest in real estate and keep the rest spread out in easy to reach accounts. I like to keep a "backup" sum on a offshore account (But you really need to know your way around offshore banks to find a reliable one nowadays).
    Most people here seem to like gold? Well quite a few ppl learned their lesson the hard way when gold crashed in march... went from 1600 to 1350ish overnight! So I would be careful, you can loose a lot if you buy anything at the wrong time!
     
  15. tompots

    tompots Elite Member Premium Member

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  16. lskt2012

    lskt2012 Newbie

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    5661317_619.jpg
     
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  17. sire243

    sire243 Regular Member

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    Chase bank :D...

    Probably when I'm bringing in 5-6 figures a month, I'll move 20% to an offshore bank account (for emergencies.) Liquidate about 10% (for emergencies) Buy up some business Invest into some bonds/stocks, and then keep like 10% in chase bank and 10% for my spontaneous IM campaigns/money to live on.
     
  18. Gogol

    Gogol Elite Member

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    Buy 100% pure Gold coins with that money and keep them in bank lockers... :)
     
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  19. capripio

    capripio Regular Member

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    Inside the nuclear reactor :p
     
  20. fsatark

    fsatark Junior Member

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    Although my opinion is that is quite risky to keep your all money in a bank don't forget that what happen in Cyprus had to do ONLY with bank accounts with more than 100000 Euros in cash and they don't loose all they money just a small percentage (on the other way the last 5-6 years the banks in Cyprus offer rates up to 5-6% every year - this rate was extremely high for Euro).
    All the people with bank accounts with less than 100000 Euros doesn't loose a penny!