note to self:
From the Wall Street Journal, September 26:
Credit cards and mobile apps won’t pay for much in a power outage
So, just how much cash should people keep at home in case of an emergency?
When the question was put to more than a dozen advisers and disaster-preparation experts, the answers ranged from $200 to more than two weeks’ worth of expenses. Though it is personal-finance gospel to save an emergency fund of three to six months of expenses, advisers say money should be collecting interest, not dust at the back of your sock drawer.
There was some consensus: Few, if any, Americans need to stash anything near the $480,000 in cash investigators found in the home of Sen. Bob Menendez (D., N.J.), which he said was for emergencies.
Those who live in areas prone to hurricanes, wildfires, snowstorms and power outages might need to hold on to more cash than others, said Paul Auslander, a financial adviser based in Clearwater, Fla.
“Here in Florida, you tend to keep enough cash on hand to get through two to four weeks of no ATMs and electrical power failure sufficient to keep your credit card from working at a grocery store,” Auslander said.
How much cash will you need
To prepare for a natural disaster or other emergency, the Department of Homeland Security tells Americans to stash water, food, flashlights and batteries at home. Cash is optional.
William Bernstein of Efficient Frontier Advisors, who wrote books on investing, disagrees.
“After a disaster damages your house or appliances, the repair person is likely to give priority to customers who can pay in cash,” he said.
John Ramey, founder of The Prepared site, which offers courses on emergency preparation, recommends people keep enough money on hand to survive for at least two weeks without cards and access to bank accounts, and to build up a stockpile from there....
....MUCH MORE
“For 30 years,” Menendez said, “I have withdrawn thousands of dollars in cash from my personal savings accounts, which I have kept for emergencies and because of the history of my family facing confiscation in Cuba.”The Senator is 69 years old and was born in New York.
Regarding the Department of Homeland Security's Ready.gov website, we last visited in April 2022's:
From the Ready.gov nuclear explosion page:
An official website of the United States government Here's How You Know
Official websites use .gov
A .gov website belongs to an official government organization
in the United States.
Nuclear explosions can cause significant damage and casualties from blast, heat, and radiation but you can keep your family safe by knowing what to do and being prepared if it occurs.......Go to the basement or middle of the building. Stay away from the outer walls and roof. Try to maintain a distance of at least six feet between yourself and people who are not part of your household. If possible, wear a mask if you’re sheltering with people who are not a part of your household. Children under two years old, people who have trouble breathing, and those who are unable to remove masks on their own should not wear them....
....MUCH MORE
Roger that, maintain masking and social distancing, over.Regarding William Bernstein:
