Harry Browne’s 17 Golden Rules of Financial Safety (2013)

Re:Harry Browne’s 17 Golden Rules of Financial Safety (2013) by ghaff on Sunday September 03, 2023 @12:22PM (#37371649)

Like everyone else, a liquid and very low risk (modulo inflation) financial instrument. (The definition is often a bit broader in financial statements.) I'd posit that, in this day and age, $100K (or whatever) in bank notes is going to do you very little good if you lose access to all your accounts.

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Re:Harry Browne’s 17 Golden Rules of Financial Safety (2013) by throwaway290 on Sunday September 03, 2023 @12:34PM (#37371743)

> Like everyone else, a liquid and very low risk (modulo inflation) financial instrument.

You clearly misread my question. I'll rephrase for legibility then: What is the word for cash (as in "physical money not in a bank") if you use "cash" to mean "money in a bank"? Is it now a concept so rarely used that term is unnecessary?

Also wow, didn't know you can't buy a car or a house with cash in US anymore, interesting times. Which year did it become illegal?

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Re:Harry Browne’s 17 Golden Rules of Financial Safety (2013) by DennisP on Sunday September 03, 2023 @12:45PM (#37371838)

Words can have more than one meaning, depending on context. For investors talking about asset allocation, "cash" means t-bills, money market, or money in the bank.

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Re:Harry Browne’s 17 Golden Rules of Financial Safety (2013) by ghaff on Sunday September 03, 2023 @12:52PM (#37371897)

It depends on the context. In the context of paying for your dinner, it means bills/notes. In the context of personal or corporate finances, it means liquid, low-risk investments.

>Also wow, didn't know you can't buy a car or a house with cash in US anymore, interesting times. Which year did it become illegal?

It's not illegal but I'd guess in a lot of situations involving (legal) high dollar transactions, the seller is probably going to tell you to take your briefcase of $100 bills to the bank and get a cashier's check--which will also kick off some raised eyebrows and financial reporting obligations.

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