Thanks to the New York Post, we know there’s a 48-year-old man named Richard Cruz somewhere in Manhattan who’s hoarding his daughter’s college fund in a shoebox. We even know what he looks like, because in the photo that accompanies the article, Cruz is posing on the sidewalk with his withdrawn cash like he just won the shoebox lottery. “‘No one hides their money under a mattress any more,’ he said. ‘That’s the first place people would look.’” Good thinking.
The article also points out that more people are investing in gold, which at least makes sense. But may we suggest you consider moving your cash over to a credit union before you glue it behind the wallpaper in your bedroom? Just make sure you ask the credit union manager about their Texas ratio first, so you don’t inadvertently put your savings at a greater risk.