Putting your millions in the bank

Reply #18

wander73 — Mon, 23 Oct 2023 21:49:41 GMT

Hi, Nice to meet you. Forget the fdic for a minute. first thing to do is consult a lawyer, a decent accountant, financial planner. My dad was an acct and passed on in 16 . He would have had an answer in 2 seconds.

Reply #17

Stat$talker — Mon, 23 Oct 2023 20:09:56 GMT

When you read in between the lines there is always this disclaimer in very small print Past performance is no guarantee of future results

And Just becauze You don't hear POW, POW Today, iz no guarantee you wont hear it tomorrow.. If you abscond my investmentz ...

Reply #16

Saintsslav — Mon, 23 Oct 2023 19:39:33 GMT

Facts

Reply #15

JustMaybe — Mon, 23 Oct 2023 19:27:46 GMT

There is always inherent risk to everything.

When you buy a lotto ticket - the risk is that you will either win or loose.

If you loose, well you loose. If you win, winning comes with its own set of risks. Besides the risks of kidnapping and murders, there is the risk that you can become a worse off person than you were before the win.

With investments and banks and all financial institutions, there is always risk. It's the degree of risk that varies.

When you read in between the... [ More ]

Reply #14

Stat$talker — Mon, 23 Oct 2023 15:09:32 GMT

It's because you aint got hundreds of millions of dollars

Just YET ...

Reply #13

GiveFive — Mon, 23 Oct 2023 12:29:58 GMT

You do know why you've never heard of CDARS (now called IntraFi) don't you Stats?

It's because you aint got hundreds of millions of dollars to deposit in a bank.

But don't fret, you're not alone. Boatloads of regular middle class people have never heard of it, cuz they aint multimillionaires either! This is just one more in a long list of reasons why regular middle class people need a wealth management team of financial advisers to help them with their brand new PowerBall jackpot win. T... [ More ]

Reply #12

wander73 — Wed, 11 Oct 2023 17:07:35 GMT

5 or 6 financial institutions. all credit unions and univest. if anyone does it right, make money off the interests. I have heard this many times. if anyone does that correct never ever have to work again. thanks for bringing this up.

Reply #11

Brock Lee — Wed, 11 Oct 2023 15:26:31 GMT

when i googled 'lottery winnings cdars' the second result was lotterypost.com.

Reply #10

Stat$talker — Wed, 11 Oct 2023 13:50:40 GMT

Oh, ok..I see..That's intresting..

So, I'm assuning the difference in lower rates, is how the Bank gets paid for managing such huge amounts of CDs for the Client...

Thanks Artist77

BTW: What do you make of this?

https://www.lotterypost.com/thread/347162/7391834

-Stat$talker

Reply #9

Artist77 — Wed, 11 Oct 2023 10:34:41 GMT

It is now known as Intrafi network deposits but it is the same process as CDARS. A bank splits up your money among other third party banks in the CD registry so you stay within that 250k fdic insurance cap for each CD. The interest rates are typically lower but you get one statement for all of your deposits.

Reply #8

rcbbuckeye — Wed, 11 Oct 2023 03:41:01 GMT

Reply #7

Stack47 — Wed, 11 Oct 2023 03:36:08 GMT

Ever use a search engine

Reply #6

Stat$talker — Wed, 11 Oct 2023 03:08:59 GMT

CDARS accounts

Please expound...I've never heard of such types of Accounts...I'm pretty abreasted in different types of Derivatives...

I'd like to research it..Thanks

-Stat$talker

Reply #5

hypersoniq — Tue, 10 Oct 2023 20:01:40 GMT

CDARS accounts can hold about $52,000,000 of FDIC insured money, many banks offer the service.

Reply #4

GiveFive — Tue, 10 Oct 2023 17:52:31 GMT

When you have multiple millions of dollars to invest, you're really talking about depositing money in a Private Bank like JP Morgan's or whomever else's private bank.

Not to endorse JP Morgan's Private Bank, but with them, you'll need to make a required minimum investment of 10 million dollars. That will also provide access to their wealth management teams which advise clients on many different types of alternative investment strategies. You'll have access to discounted rates, and other spec... [ More ]

Reply #3

Stat$talker — Tue, 10 Oct 2023 16:46:16 GMT

Commercial Banks are THE worst place to put your money..Negotiate special interest rate terms with them...Limit the amont to no more that what the FDIC will refund you , per Account, should the Bank bellyup...

US Treasury Bills are alot safer,.. especially when we talking $1.73 Billion...no State Taxes on'em..

But NEVER put all yo eggz in 1 basket..

Reply #2

ddude003 — Tue, 10 Oct 2023 13:16:30 GMT

Brokerage deposits may qualify for up to $2,500,000 of FDIC insurance... There are many ways to diversify...

Reply #1

GiveFive — Tue, 10 Oct 2023 12:10:07 GMT

This is why many billionaires are heavily invested in real estate. They own multiple mansions around the world. G5

Putting your millions in the bank

stexstuff — Sun, 08 Oct 2023 15:51:30 GMT

The FDIC insures each account up to 250,000, so if you don't wanna use about 600 banks, invest most of it in long

term treasuries. At least they are free of state income taxes.