Is bank safe for this amount.

MasterMagician · Nov 13, 2012

Godspeed said:
You will never earn $100mil, so don't worry.

Oh come on now! It only takes winning Euro Millions to have the kind of problems OP is facing

Windmill · Nov 13, 2012

zebrahat said:
Whatever nest egg you acquire, it's best to put 10% in precious metals (physically held by you in a secure safe, no banks or certificates), buy at least one normal-sized home all-cash, and put most of the rest in several banks (in country, and offshore). $50 million at 1% interest is half a million bucks a year, not too shabby.

Actually... that would be terrible! Inflation is usually 3-5% per year if a country is doing well. If so, a 1% return isn't keeping up with inflation and your money will be seriously undervalued in 10+ years time.

BHopkins · Nov 13, 2012

Windmill said:
Actually... that would be terrible! Inflation is usually 3-5% per year if a country is doing well. If so, a 1% return isn't keeping up with inflation and your money will be seriously undervalued in 10+ years time.

Are you telling me that I shouldn't be listening to people on a forum about what to do with $50 million?

zebrahat · Nov 13, 2012

Okay, I'll just take the "terrible" $500,000 interest income and go my terrible way.

Seriously, find the best bank product returning above inflation levels and go with that. Just used the 1% interest example to show how much sheer money can come off from investing a huge lump sum.

Skizz · Nov 14, 2012

I wouldn't bank more than a million. Banks are only required to insure 250k

Is bank safe for this amount.

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