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What Do You Do With Large Amounts Of Money? (lemm.ee)

submitted 1 year ago by Rocky60@lemm.ee to c/asklemmy@lemmy.ml

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Suppose you win 100 million. What do you actually do with it? Banks only guarantee 250,000. Do you have to invest it? Is there anywhere you can just let it sit and draw interest?

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[–] Iceberg@lemm.ee 7 points 1 year ago (1 children)

https://www.forbes.com/advisor/banking/ways-to-insure-excess-deposits/

Here are some of the most common strategies if you're over 250k. But at 100M it would be very foolish to not invest (likely hiring a private wealth manager to do so competently).

[–] Harrison@ttrpg.network 3 points 1 year ago

Foolish if the goal is to hold on to more money than you could ever need in ten lifetimes to pursue the goal of accumulating more from the work of others.