Retired Couple Inadvertently Donates Their Life Savings In "Soup Can"

OneEyedDiva

OneEyedDiva

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New Jersey
When they decided to donate canned goods to a local food bank, they donated cans of soup but one of them was their soup can bank that opened from the bottom. By the time they realized that they had donated the can that had $2,500 in it, it was too late to track it down. I feel bad for them but geesh..that's why there's banks! I can't see keeping your entire life savings (once it pasts a couple of hundred dollars) in the house. I wonder if it's because they didn't trust banks or were in such a remote location that it would be hard to get to a bank if they needed to. http://www.latimes.com/food/sns-dai...pantry-masachusetts-12118-20180121-story.html
 

Millions of Americans don't have bank accounts.

I'm sure that the reasons vary but for many the fees and minimum balance requirments associated with maintaining a checking account are more than they can handle on a small or uncertain income.

The story doesn't smell quite right to me, I keep money on hand and I know exactly where every bit of it is stashed.
 
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Decades ago I remember seeing those "bank" soup cans advertised.

The saddest part of the news article is they only had $2,500 in life savings.

If a friend or relative starts a "go fund me" page for them, I bet they would get back more than double.
 
Aunt Bea said:
... I keep money on hand and I know exactly where every bit of it is stashed.
Click to expand...


That might change with age.

A friend's mother told him that when she dies he should look through her books.
She had hidden money in many of her books. He said she has a big library of books.
 
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Years ago at a yard sale, there was a nice cardboard coin holder for the new state quarters.
It was for sale for 50 cents. I opened it and inside it was half filled with quarters !!

I told the seller of the error. I bought the coin holder, reimbursing the seller for the holder
and the quarters.
 
KingsX said:
That might change with age.

A friend's mother told him that when she dies he should look through her books.
She had hidden money in many of her books. He said she has a big library of books.
Click to expand...

My father had a large framed print of some southern belles gathered around a piano. He used to tell people that the picture was worth $3,000.00. People were polite and let his comments pass or made a pleasant comment about the picture. One day my father had a new furnace installed and when the men finished the job and presented him with a bill he asked the furnace man's young helper to reach up behind the brown paper on the back of the picture and pull out an envelope. The envelope contained $3,000.00.

Another thought on the topic of money and a faulty memory.

The inscription, from her husband, on the inside of Molly Brown's wedding ring. "Always remember two things I love you and the name of the bank."

By the time I get to the point that I forget where the money is stashed I'll have problems that can't be solved in this world.
 
Aunt Bea said:
My father had a large framed print of some southern belles gathered around a piano. He used to tell people that the picture was worth $3,000.00. People were polite and let his comments pass or made a pleasant comment about the picture. One day my father had a new furnace installed and when the men finished the job and presented him with a bill he asked the furnace man's young helper to reach up behind the brown paper on the back of the picture and pull out an envelope. The envelope contained $3,000.00.

Another thought on the topic of money and a faulty memory.

The inscription, from her husband, on the inside of Molly Brown's wedding ring. "Always remember two things I love you and the name of the bank."

By the time I get to the point that I forget where the money is stashed I'll have problems that can't be solved in this world.
Click to expand...

Aunt Bea...Great stash story about your father! I know there are many people of all ages who don't have bank accounts and there are certainly a variety of reasons. But now seniors can open no fee checking accounts or savings at certain banks for as low as $100 daily balance. Of course not all banks are in all areas of the country. For the most part, I'm good with money, especially non cash money. I can't keep up with cash as well as my bank accounts and investments. One time I stashed $150 in a tote sized purse I wasn't planning to use for awhile. I think we were headed out for vacation and I didn't want to bother putting it in my usual hiding place. One day my husband and I were headed to Costco and I decided to use that tote. I was feeling around in it for something, wound up in the zipper compartment and found that $150! It was like a windfall...although I know it really wasn't. LOL Just recently I lost track of about $147... some of which was to go into my stash to refill my wallet. I don't know what happened to it all. I know I spent some but not a lot. I'm not senile by any means (but perhaps I'm on my way :confused:). My mind is active and always working. I agree that these older folks' minds may not be as sharp as they used to be. They could have stashed that money awhile ago, never dipped into that can so just didn't think of it...so busy trying to do a good deed.
 
How terrible for that couple who accidentally donated their life savings. If all they had in the world was $2500, it must have been extraordinarily difficult to amass that amount. What a devastating loss for them.

I personally prefer cash to CC and certainly to debit cards (which I NEVER use). Just a habit.

No matter what your stance is on cash versus credit, it's wise to remember that cash is king in an emergency situation that creates widespread power outage, e.g., an earthquake or ice storm. Most emergency handbooks remind people to have some folding money on hand. Obviously, it's not smart to have all or even most of one's life savings as a cash stash, but a surprising number of people don't even have $5 in their wallets anymore.
 
StarSong said:
How terrible for that couple who accidentally donated their life savings. If all they had in the world was $2500, it must have been extraordinarily difficult to amass that amount. What a devastating loss for them.

I personally prefer cash to CC and certainly to debit cards (which I NEVER use). Just a habit.

No matter what your stance is on cash versus credit, it's wise to remember that cash is king in an emergency situation that creates widespread power outage, e.g., an earthquake or ice storm. Most emergency handbooks remind people to have some folding money on hand. Obviously, it's not smart to have all or even most of one's life savings as a cash stash, but a surprising number of people don't even have $5 in their wallets anymore.
Click to expand...

I agree StarSong. I often have $100 to $300 in my wallet but having a couple of thousand in the home would be a good idea in case of an emergency. If the power goes out for an extended time ( as in Puerto Rico) Banks won't be able to access your account to give you cash and stores won't be able to take credit cards.

I'm going to start my "soup can" bank right away.
 

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