If you are a millionaire, where do you keep all your money? Banks have deposit limits and only insure up to 100k. So, you need ten bank accounts for a million dollars? Keep the money in stocks or crypto? But they can crash and lose all your money. I don't get it.
1/3 in crypto1/3 in stocks1/3 in banks/treasuriesor1/4 crypto1/4 stocks1/4 banks/treasuries1/4 gold/silver (but then you have to deal with storage)
>>60924599100% in physical gold bars in a safe
>>60924687the way our economy and monetary system works means that you are rewarded for exposure to as many assets as possible>why though?because upside is unlimited but downside is limited>why downside is limitedbecause things you own can't go below zero, no matter how much debt a stock you own has you will never lose more than what you paid for the shares you own
>>60924599Offshore bank account.
banks have deposit limits? Doubtful lol. >no sir we will not accept your 50 million dollar cheque!
>>60924784I swear I saw that somewhere. I was cashing a check on the BoA app and a message about limits was somewhere. Either on the check or in the app. Can't remember.
>anon finally realizes why credit ratings are so important
>>60924599with some investment bank like JP Morgan or something.
>>60924816are you sure you're not confusing this 100k figure with daily deposit limits? FDIC insurance limit is at 250k per depositor, so suggesting you can only have 100k in a given account is just false.
>>60925459Maybe. So, about daily deposit limits, what are you supposed to do with a million dollar check, let's say?
>>60924599millionaires don't have cash. They have equity. Equity stores itselfapparently this board has no clue about wealth
>>60924599based on your post alone i can tell you'll never need to worry about it
>>60924599Safety deposit box hidden on a moon orbiting one of the gas giants
>>60925459he's probably talking about europe where the standard is 100k
1. Be Jewish 2. That's about it
>>60926086You don't eitherWhat is an equity and how do you get one, then? Reply quickly, don't ask ChatGPT.
>>60924599risk adverse rich people put their money in hedge funds, not banks. practically no one uses banks (poor people are a rounding error).
>>60924599Under the Mattress Hidden inside the walls or floorboardsHole in the backyardSunk in a specific spot in a private lakeIn grandmas attics At your friends houseIn a safe hidden in a wall behind a picture hanging on the wall at your your friends Bernie's antique bookstore
>>60924599Between $1MM and $5MM you'd have several different bank accounts so that if one fails you don't lose all your stuff. Past $5MM you'd go to Switzerland for your banking.
>>60926086>fixed income markets: 145T>Equity markets: 129TI actually think the rich are first lien chads
>>60924599I'd buy 10 kilos of gold
>>6092459970% in bitcoin.25% in brokerage accounts (not FDIC insured), mix of broad market ETF bullshit.5% in worthless cash. FDIC insured.The big flaw here is that if I die, 70% of my net worth is pretty much guaranteed to be lost rather than to pass on my heirs. Not great, not terrible.
>>60926792nah just holding BTC is brainlet tier. exsat lets you actually earn off your BTC instead of it just sitting there.
