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Should I have my Disability check come to my home instead of the bank in case they suddenly close?

July 26, 2010 by  

Dear Bob,

I have two auto deposits from Disability into the bank each month. Should I have that made to come to my home instead of the bank in case they closed up suddenly? It would be a balancing act to keep checks from bouncing, however, as I am nearly homebound and have a hard time coming and going to the bank. I just keep enough in to pay my utilities, food, gas, etc. and am debt free otherwise. BUT, if they closed suddenly, it would take my whole monthly income at once, and leave me high and dry.
questions about.

Thanks,
Wanda Godfrey

Dear Wanda,

Ideally you would keep only enough money in your bank account to cover your monthly expenses. All other available cash should be kept at home (and coverted to gold and/or silver when practicable). I understand that with your mobility issues this becomes difficult. If it’s possible to find a relative or friend that you can trust to help you with this it would be good. You could put them on as a signatory to your account and, after your bills are paid, they could help you make a withdrawal of the excess which you could keep at home in a fireproof safe that is hidden away and secured.

Then, once you have accumulated enough cash to cover about two or three months worth of expenses you could begin to convert any additional money you save into precious metals. Again, you should keep those in a safe.

Best Wishes,
Bob

Filed Under: Questions For Bob
Bob Livingston

is an ultra-conservative American who has been writing a newsletter since 1969. Bob has devoted much of his life to research and the quest for truth on a variety of subjects. Bob specializes in health issues such as nutritional supplements and alternatives to drugs, as well as issues of privacy (both personal and financial), asset protection and the preservation of freedom.

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  • BUD’s Question

    Bob
    You consistantly advocate buying gold or silver with money that would normally be set aside as dollars in savings. If gold or silver is so much more desirable than the dollar why would someone lke the dealers in gold and silver be willing to trade thier valuable asset for such meaninless assets as paper money? . . . What are they doing with the paper money that they are wiiling to trade gold for it? Would not it be wiser to put your dollars in the same asset that the gold sellers are buying with thier dollars?

  • http://www.boblivingstonletter.com/ Bob Livingston

    Dear Linda-Sue,

    I see no difference between having your SSI deposited automatically or having it come to your home so that you can deposit it. The danger comes from the possibility of bank failure while your money remains in the bank. That’s why I suggest you leave only enough in the account to cover bills and keep the rest at home.

    You are correct in your assumption that if the government decided to stop your SSI payments, it will not matter whether it is auto-deposited or comes to you in check form. I don’t see this happening until hyperinflation gets out of control and government implodes completely.

    Best wishes,
    Bob

  • Linda-Sue

    Bob Livingston did not answer the question: should the Social Security Disability checks come to the home or be automatically deposited in a bank account?

    Please, Bob, answer the question. My husband and I would like to know.

    I assume that since the government (dispensing our own money back to us) holds the purse strings, they can seize any or all of the disability money whether it is auto-deposited or comes to the home. Thank you in advance for this information.

    • Brad

      Uhm, Linda-Sue, he DID answer the question. Perhaps you need to reread it so that you may understand it. Best wishes, and I hope the best for you and all of us in protecting our assets.

  • James Pardue

    Dear Bob:(if indeed that is your name)
    Do you realize that you, the GOP,and the tea party are dangerously close to treason with your collective Obama-bashing. Just incase you’ve forgotten he is the President of the United States of America and Our Commander and Chief. If you do consider your selves loyal Americans,try to remember that this country is under attack by the most well organized and wide spread group of terrorests ever seen in all of mans political history. Our current standing president inherated this (war) from the most recient GOP elected canidate and The Worst President Ever George Bush (I+II),with that for their track record, their oppinion is moot. President Obama has delivered more leadership than both of the Bush’s in all the time they were supported by all the American tax payers (I would’nt acctually call it a presidentcy).

    As one loyal American to another please stop working aganst the rest of us. Your canidate lost, live with it. Stop sniping at our commander and Chief and stop terring us appart internally because it weakens us aganst our invisable enemys.

    James W Pardue
    co: zippythippy@embarqmail.com

    • Brad

      James, criticizing the Pres. of the US is not even CLOSE to treason. If so, then your lib ilk is guilty of it MANY TIMES OVER for “treasonous” acts like calling Bush “Hitler,” calling for his death, etc. You are a HUGE hypocrite. And once again, we hear how Bush was the “worst-ever” president while we with our opinion about the sitting “worst-ever” president are called “traitors.” If anything, I feel that Obama is traitorous in his actions against much of the Constitution. You libs are often caught projecting your own flaws on others. Your points are idiocy. Get better arguments.

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