Hiding Money

My 89 year old aunt was recently sent to a nursing home. Her family found
$20,000 in cash hidden in various parts of the house. My sister told me
that a friend's mother had $22,000 hidden in her house. Both of these women
were existing on social security and very modest savings. Is this a
Depression mentality, a fear that they might lose everything if they put it
in a bank? My aun'ts sole explanation was that she wanted it there in case
she needed it.

Golden State Poppy...

I definitely think it is a Depression mentality. My great aunt was
found wandering in New York City with $7000 in her purse. The police
notified my mother who went back to NYC to bring her to our home. I
have always admired the NYC police who could have so easily taken her
money. Instead they tracked down her nieces in Kansas, which must have
been no easy job.

AndyS...

It might also be a fear of government authority. Since the gov has
the
ability to freeze all your bank accounts and financial records,
including
credit cards, with a phone call, some feel that it would be a nice
safety
net to have a few bucks lying around for emergencies...

In fact, an experienced "hacker" could probably do the same thing
out of mischief.....

It is for this reason that the financial data on my hard drive is
backed
up by a paper copy, periodically, ;which is put somewhere safe. Same
thing for phone numbers and passwords. I use a 3x5 index file for
phone numbers and addresses, just in case some virus freezes my
computer.

Having a few bucks under the mattress is a "hard copy backup" of
one's finances --- which are just electronic symbols in a bank's
computer....

I applaud those who plan for these emergencies.... It is important,
however, not to "overdo" it..... I don't know what is reasonable for
everyone --- depends on circumstances --- but 22K seems a really
big "emergency stash" to me.....

Andy in Eureka, Texas

( If your 911 phone call incurs long distance rates, you
might live in Eureka, Texas )

Thumper...

Some people just like cash.
Thumper