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Selling non IRA Mutual funds, transferring the funds and cashing them out would probably take longer than 72 hours, but would be doable.
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I started this thread mainly because of the other money threads here but an interesting thing happened over the weekend.
I was at a family get-together and the subject of emergency cash came up. Without knowing what the rest of the family was up to, we discovered that we all have a certain amount of cash for a true emergency. Once we added it up it was determined that $100K could be collected within an hour and up to $125K if we had 3 hours for my brother to make the drive to our area. |
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I started this thread mainly because of the other money threads here but an interesting thing happened over the weekend. I was at a family get-together and the subject of emergency cash came up. Without knowing what the rest of the family was up to, we discovered that we all have a certain amount of cash for a true emergency. Once we added it up it was determined that $100K could be collected within an hour and up to $125K if we had 3 hours for my brother to make the drive to our area. View Quote |
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I started this thread mainly because of the other money threads here but an interesting thing happened over the weekend. I was at a family get-together and the subject of emergency cash came up. Without knowing what the rest of the family was up to, we discovered that we all have a certain amount of cash for a true emergency. Once we added it up it was determined that $100K could be collected within an hour and up to $125K if we had 3 hours for my brother to make the drive to our area. View Quote Anyway, our municipal court judge set the bond at a million dollars cash on a Friday afternoon. On Monday, I had the ridiculous task of arguing that the bond was not excessive before a three judge Appellate Court panel. On Tuesday, the Appellate Court issued an order that the bond be reduced to, I don't remember what. Didn't matter, the defendant's parents had posted the million dollar cash bond. |
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I guess I could wipe out my retirement, then get fucked with the taxes.
Already had to do that once with my divorce. |
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A really good friend of mine would put that up for me in a heart beat. But now his Canadian wife has pretty much sucked him dry. He must have had a good time though.
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I had a case few years back where a 40 something New Jersey man drove to Ohio to hook up with a Sheriff's Deputy that he thought was a 13 year old girl. Anyway, our municipal court judge set the bond at a million dollars cash on a Friday afternoon. On Monday, I had the ridiculous task of arguing that the bond was not excessive before a three judge Appellate Court panel. On Tuesday, the Appellate Court issued an order that the bond be reduced to, I don't remember what. Didn't matter, the defendant's parents had posted the million dollar cash bond. View Quote View All Quotes View All Quotes Quoted:
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I started this thread mainly because of the other money threads here but an interesting thing happened over the weekend. I was at a family get-together and the subject of emergency cash came up. Without knowing what the rest of the family was up to, we discovered that we all have a certain amount of cash for a true emergency. Once we added it up it was determined that $100K could be collected within an hour and up to $125K if we had 3 hours for my brother to make the drive to our area. Anyway, our municipal court judge set the bond at a million dollars cash on a Friday afternoon. On Monday, I had the ridiculous task of arguing that the bond was not excessive before a three judge Appellate Court panel. On Tuesday, the Appellate Court issued an order that the bond be reduced to, I don't remember what. Didn't matter, the defendant's parents had posted the million dollar cash bond. |
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A lot of people like to talk tough, but don't understand that trying to get $100k liquid cash (not a bank check, etc) is a whole lot harder than you think. How many branches do you think have that much cash on hand available for withdrawal?
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It would take a couple of weeks easily. By the time you cash an investment, transfer the funds to your local bank, and then order the currency these things take time. It would take a week on the currency order once you got your bank manager to stop laughing hysterically.
Or I could pay a good friend $10,000 and a six pack of beer to act on my behalf in the matter. It might run more than that depending on if he needs a few helpers and or travel expenses. Dude's a savage when you wind him up properly. |
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I wouldn't have a chance in hell of raising that much money, but I could probably call in enough favors to take care of the problem.
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It seems your scenario is flawed. If it were a life or death scenario, the I am not putting retirement account 'off limits'. View Quote Poor people don't understand that rich people don't deal in cash, don't keep it on hand because its working for them in other places. |
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Within the hour, the bank would be the hold up as they don't have that much cash on hand to withdraw. Call it 24-48hrs.
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where do you park and what do you drive? Kharn View Quote View All Quotes View All Quotes Quoted:
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I keep that much in a duffle bag behind my truck seat... Kharn Attached File |
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You have that much in your couch cushions. Too poor to hire a maid, hunh? View Quote View All Quotes View All Quotes Quoted:
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You don't have at least six figures of cash in your safe at home? Go be poor somewhere else. |
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Wow. My family is not rich but we all have good jobs and are good with money. But, I know there is no way we are coming up with 1 million in 3-4 days. To be honest, I wouldn't put up a single dollar for someone that was trying to screw little kids. View Quote |
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I got caught up in some kinda turf war in China Town. Those bastards ran me off and stole it ... https://www.AR15.Com/media/mediaFiles/350291/IMG-3606-252176.JPG View Quote View All Quotes View All Quotes Quoted:
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I keep that much in a duffle bag behind my truck seat... Kharn https://www.AR15.Com/media/mediaFiles/350291/IMG-3606-252176.JPG |
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I know that bail is usually 10% to get out but I thought that when the judge says "cash" that you had to put up the full amount. I never dealt with any of that though.
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Well fuck i votes then read that i must obtain it legally.... disregard 1 vote for 1-6 hours. Bank has lots of money...
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Most people could take out a second mortgage to cover it, I doubt most of these people who are saying they could have it sitting in cash.
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Life or death, my grandpa would cut a check. I wouldn't ask for anything less. And I'd only borrow as much as I couldn't cover.
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I'd just have to get to that cave in Mindanao, that would depend on flight availability.
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This is arfcom... I just have to walk over to the safe to pull out one of the dozen stacks of $100,000 bundles I have in there.
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I'm allowed to borrow $50K from my deferred compensation plan. take less than 48 hours to get the check. sell my car to carmax, takes less than an hour. plus whats in my savings account. I could do it.
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Gonna get it tomorrow actually. We are closing as in selling our house tomorrow.
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You CANNOT touch retirement accounts like a 401K, IRA and the like View Quote thats silly. many retirement accounts allow you to borrow your own principle and pay it back to yourself. |
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Bout 10 minutes if they have paypal.
Just have to explain to my my bank why I've lost my mind first. |
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Couldn't do it on my own, would need to borrow from family, and that's a big maybe. Short of my parents immediately putting their house up for sale and finding a cash buyer, said kidnapped family member is probably a goner.
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Poll is screwy.
Unless you have 100k cash in your mattress, nobody is getting 100k cash out of a bank in under an hour. |
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I would have to sell a bunch of shares in my ETrade and Interactive Brokers accounts, and then wire the money to my local banks, but yeah...I could do that in 3-4 days...
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depends on who got kidnapped
but generally 2 to 3 days have some cash to cover but not all of it - so would need to sell some Stocks to get the rest |
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Well, if I can convince the local Indian casino to up the table max to $50 I would only need 2,000 straight wins to get to 100k. Let's say a hand every 90 seconds, so I only need 50
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