Asklemmy

43963 readers

1175 users here now

A loosely moderated place to ask open-ended questions

Search asklemmy 🔍

If your post meets the following criteria, it's welcome here!

Open-ended question
Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
Not ad nauseam inducing: please make sure it is a question that would be new to most members
An actual topic of discussion

Looking for support?

Looking for a community?

Lemmyverse: community search
sub.rehab: maps old subreddits to fediverse options, marks official as such
[email protected]: a community for finding communities

~Icon~ ~by~ ~@Double_[email protected]~

founded 5 years ago

MODERATORS

[email protected]

170

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

submitted 1 year ago by [email protected] to c/[email protected]

141 comments fedilink hide all child comments

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?

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 4 points 1 year ago (1 children)

Private wealth management. They take a large cut but it's worth it for most mega-rich folks. They will manage the money for you and invest it according to your goals. They spread the funds out into various investment classes to lower overall risk and they work full time moving money around to maximize gains. They also have access to tax experts who can advise on how best to minimize taxes.

[–] [email protected] 1 points 1 year ago

This sounds like the way to go. Let the professionals deal with it