Where do Millionares/Billionares keep their moola so that its safe?

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miketpowell said:
FDIC is backed by the US government which in the financial world is considered the safest type of investment, the rate the US government is considered the "risk free rate". If you want the protection of the US government but you have to much money for a savings account it's pretty simple, you buy US treasury notes. Those have the same backing as any FDIC insured account, you will get what the note/account says as long as the US government doesn't default on their debts.

I wouldn't put all my eggs in one basket though even if it is the US government and supposed to be the least risk. Diversifying is the key to safety. Which is a pain if you have tons of money thus why people with tons of money always have money managers unless they make it there own full time job to invest there own money.
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Cute, but only if you haven't been paying attention to the news for the last few months. First off, fuck what the wizards of Wall St think is safe. Second, even governments fall. And the U.S. ain't looking too great from a financial standpoint at the moment.
 


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^ lol that is a great pic. Alot of people still do stash cash in their house but thats usually if its not legit money but i mean with the FDIC insuring bank accounts up to 250k now you can stash a mill in 4 accounts vs 10 before. That makes it alot easier, and alot of rich just put their money into various types of assets.
 
kimboslice said:
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^^lol......
unfortunately, when it comes to fiat, you might end up with more fireplace food than anything else......

Inflation-1923-Germany-Cheaper2BurnMoneyThanWood.jpg


On a different note, is anyone else actually excited by the opportunities that lay all around? It seems that so many people are focused on what's going wrong, they fail to see all the abundant opportunities around.

I remember a while ago listening to a Brian Tracy mp3 (yeah I know: he can be cheesy sometimes but he can also be quite sagacious.....)

Anyway he tells a story like this:
Two shoe salesman go to Africa:

-one reports back to his boss in dismay "TRIP A TOTAL WASTE OF TIME AND COMPANY MONEY - NOBODY HERE WEARS SHOES!"

He droops his head and heads home in total defeat......

The other guy, his colleague, reports back to that same boss with unbounded excitement and optimism, "TRIP A TOTAL SUCCESS AND GOLDEN OPPORTUNITY FOR COMPANY!!! - NOBODY HERE EVEN WEARS SHOES; THERE'S UNLIMITED OPPORTUNITY ALL AROUND TO SELL THEM!!!".....


Anyway, truth be told, I think any product or service built around addressing core needs with do well to invest in these days (safety, security, opportunity, etc....) -in other words provides solutions to people's most pressing problems, concerns....
 
"Millionaires generally realize that "risk" is a perceived concept, not a real one. No-one actually needs "FDIC protection", it's just there to give a feeling of security to savers who don't understand basic human emotions."
 
I only see a couple of people here aware of the inflation problem that is coming. I would see what could happen to the dollar first before you go putting your assets into something denominated in a fiat currency that is being destroyed.
 
"If you got more than $50 million, buy yourself a congressman." Or a lobbyist. Big bribes are probably the most profitable investment outside of AM, but be sure you buy an honest politician - meaning one that stays bought. You will need to buy a world class career politician with real connections. That's one thing millionaires do.
 
I'll let you know here soon...........

Seriously though , wealth diversification is what you have to do.

The big guys don't keep their money in residential , it's in commercial which has been much better than residential.

My plan is to keep a decent bit of money invested back into AM , but real estate as well (Buying greatly undervalued real estate on a national , then international level) as well as other assets. I haven't decided what else I want outside of real estate, but intellectual properties seem pretty good as well (Patents).
 
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