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

submitted 1 year ago by Rocky60@lemm.ee to c/asklemmy@lemmy.ml

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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?

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[–] applejacks@lemmy.world 4 points 1 year ago (1 children)

You would not just store it in a bank account collecting no interest.

You would invest it and could easily live off the dividends.

[–] snowe@programming.dev 0 points 1 year ago

That really isn’t how stuff works. I don’t understand how you’re getting upvoted at all. Do you have a financial advisor? Do you actually have investments and accounts for retirement? Investing two million and trying to live off the dividends would give you pretty much nothing each year, from a cost of living perspective.