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Current Events > If you have 5 million dollars how many banks do you have to split that between?

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BignutzisBack
07/01/21 12:04:03 PM
#1:


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BignutzisBack
07/01/21 1:59:26 PM
#3:


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Kitt
07/01/21 4:52:15 PM
#4:


I would also like to know more about this.

For a friend...

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Giant_Aspirin
07/01/21 4:57:52 PM
#5:


just one bank to hold $25k, the rest would be invested

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Irony
07/01/21 5:04:13 PM
#6:


Giant_Aspirin posted...
just one bank to hold $25k, the rest would be invested
4.975M in Doge

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BignutzisBack
07/01/21 6:26:43 PM
#7:


Giant_Aspirin posted...
just one bank to hold $25k, the rest would be invested


What about the time before yo invest? Say someone gives you 5 million dollars, how do you keep it until you pick and execute investments? Do you really have to open an account with 10+ banks?

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Thaumaturge
07/01/21 6:29:45 PM
#8:


One. Swiss bank or a bank in the Caymans.
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Damn_Underscore
07/01/21 6:33:15 PM
#9:


BignutzisBack posted...
What about the time before yo invest? Say someone gives you 5 million dollars, how do you keep it until you pick and execute investments? Do you really have to open an account with 10+ banks?

It can still be in a brokerage account without being invested

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Trumpo
07/01/21 7:01:31 PM
#10:


You can create additional accounts
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bknight
07/01/21 7:03:58 PM
#11:


So, if you put 500k in a bank, and a branch of that bank gets robbed, how do they know if the money taken was part of your uninsured portion?
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Pepys Monster
07/01/21 7:15:48 PM
#12:


BignutzisBack posted...
What if your super rich and run out of banks
Then use offshore accounts, online banks, crypto, etc.

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TrollTrace
07/01/21 7:33:32 PM
#13:


Dang, did not know having a lot of money was so much work.
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g980
07/01/21 7:41:35 PM
#14:


Just put it all in one bank while you figure out how to invest

If theres such a run banks that fdic insurance matters then youre fuxked anyways
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mustachedmystic
07/01/21 7:59:23 PM
#15:


TrollTrace posted...
Dang, did not know having a lot of money was so much work.
https://www.youtube.com/watch?v=gUhRKVIjJtw

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