What to do if you have too much cash?

jon3001

NiceGuy wrote: »

Does anyone know of a way of storing the value similar to the old bearer bonds?

Buy the chips but don't gamble!

dzug1

jon3001 wrote: »

Buy the chips but don't gamble!

But that's no different to cash - no interest? And probably riskier as the casino may go bust. (hmmm thinks - is that really likely?)

gozomark

theGrinch wrote: »

marry someone dim with high maintainence

spelling ability optional...

zygurat789

Reaper wrote: »

Holding a large amount of cash is crazy. As you say it would earn no interest, so inflation would eat into it.

Holding money in a bank or savings account alone would not be likely to trigger a money laundering investigation. They are happier when the money is moved around by bank transfer or cheque because then there is a paper trail. However if you have a tendancy to regularly visit the bank with a suitcase full of money they will most certainly flag you as dodgy.

Negative inflation actually increases the value of money
Large sums of money MAY give rise to an HMRC investigation.

Reaper

zygurat789 wrote: »

Negative inflation actually increases the value of money

True, if it exists. Personally speaking I experience inflation. It depends on such things as whether you have a mortgage. Even if you experience negative inflation it is likely to be short term. Either way I'd rather earn 3-5% on my money than 0%.

Large sums of money MAY give rise to an HMRC investigation.

I guess it depends on how big a sum we are talking about, and the history of the person (eg are they on benefits). I've regularly moved £50k about chasing the best rates without anybody batting an eyelid (and on one occasion much more after selling my flat). If I'd taken £50k to the bank in a suitcase full of cash it would have been a different matter. That was the point I was trying to make. It is not an abosolute rule which is why I said "would not be likely to".

dudes_2

Can't you buy some other form of investment - i.e. coins? Classic car?