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If you had a large sum of money in the bank what would you do with it?

 
Hope_Full

User ID: 50450911
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05/16/2021 12:51 PM

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Re: If you had a large sum of money in the bank what would you do with it?
Depends on the sum. Some banks have safe investments that earn a certain %, and it’s a set guaranteed rate.

If you have enough, those safe investments could carry you in perpetuity, though you would need to shuffle money as the percent might change. Also, I’d limit each to the max that is protected, which in the Us, each account is guaranteed up to $250,000 per fdic bank.

So if you found a few banks with 5% guaranteed investment, well, that could be $5000 a year per 100,000 in the bank.

I personally don’t need more than 15,000 to live, annually, so something like this would work for me if I had that amount. The banks in America are quite good for that, at least.

Just be mindful of inflation, when planning that. It’s “safe”...

If you have a lot of free time, that definitely changes what I’d hypothesise. If you have good and fast internet, that even more so alters what I would hypothesise would be beneficial.

But also realise, risky investments carry massive risk.

If you inherited a million dollars, a five percent investment that you don’t touch for several years will turn out very nicely and can help offset a bit of the inflation..

If you are bored day to day, you could take up trading and manage a small % of those funds until you are comfortable with your trading strategy (while keeping the bulk in some semblance of an investment that is without or with minimal risk.)...

If you intend to stay and are located in the USA, there are certain highly sought after mutual funds that you might put a small amount of your inheritance into, such as 5-10%, that could build quite quickly, such as blue chip type...

I won’t get into specific funds, and I have no skin in the game. I left America, and cannot even buy those funds for myself, though could in theory set up a trust of such fund for a family member. Probably. I think.

I am not a financial advisor. I recommend if you are interested in doing your own trading and day trading to go through something educational first. There are certain websites I liked for learning how to trade, that are invaluable...from there it’s just a bit of experimentation.


Safest route is the highest %, of a guaranteed interest*, invested in chunks of <$250k, one chunk per fdic bank.

An aside, Unless you are incredibly risk tolerant and are okay with riding out the dips, never risk more than 3% in any individual high risk investment category.
 Quoting: InfiniTea


This is really good advice, from stem to stern.

I have a little bit of cash and I’m just hunkered down and waiting for the real estate market to correct. And then I will buy a little bit of land.
RISE

User ID: 79388810
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05/16/2021 12:52 PM
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Re: If you had a large sum of money in the bank what would you do with it?
Invest it in some shitcoin and loose it in the blink of an eye.
You know who I AM.
Anonymous Coward
User ID: 74125352
United States
05/16/2021 12:52 PM
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Re: If you had a large sum of money in the bank what would you do with it?
Exchange paper for silver
Concorde Warrior F-BVFA

User ID: 80191062
France
05/16/2021 12:54 PM

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Re: If you had a large sum of money in the bank what would you do with it?
I would go out and see the world.

I would probably hang around all the Polynesian island in the South Pacific, then off to Hawaii then to French Polynesia then to Easter Island and back to Tahiti again

and lots of other places.

Nothing excessive. I would go the same as now, probably stay in a really nice hotel every once in a while and go places on a whim

maybe ride around the islands on freighter ships.

hf
I came. I saw. I Concorde.

For once you have tasted Concorde you will walk the earth with your eyes turned skywards, for there you have been and there you will long to return.

"I would say today we can integrate all religions and races EXCEPT ISLAM."
Singapore's founding father Lee Kuan Yew
Anonymous Coward
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05/16/2021 12:55 PM
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Re: If you had a large sum of money in the bank what would you do with it?
Just curious what you would spend a large some of money on right now. With the way things are going I assume the value of a dollar will be falling pretty soon. So if you had a large sum sitting in an account somewhere, what would you do with it? I'm not talking about enough to buy a decent amount of land. Just enough to buy a new car with cash.

Put it in gold and/or silver?

Buy something to have fun in these last years of semi normalcy?

Put it all in crypto and cross your fingers that it doesn't bottom out?

What?
 Quoting: Stella Wayten


Land with its own water source, solar power, animals, and green house
ForceGhost

User ID: 79334294
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05/16/2021 12:56 PM

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Re: If you had a large sum of money in the bank what would you do with it?
Bet it all on Doge
Nyblazer

User ID: 32517190
United States
05/16/2021 12:57 PM
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Re: If you had a large sum of money in the bank what would you do with it?
Hearing all of these coin recommendations really makes me hope more and more this bubble finally pops.

It seems like daily I’m seeing a new handful of coins shooting up anywhere from 20-80% in a day. And I feel like all of that shit is very new, like 2021 new. Before this year I don’t believe it was ever this ridiculous. Now like I said everyday a handful of these coins shoot up, and I haven’t a clue why. Wtf makes one better than another.

The day will come when liquidity is the play, and I think a lot of folks gonna get raped
Nyblazer
Anonymous Coward
User ID: 79142625
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05/16/2021 01:00 PM
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Re: If you had a large sum of money in the bank what would you do with it?
Give it to Joe Biden.

lolatu
Patriot_In_Waiting

User ID: 71796270
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05/16/2021 01:00 PM

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Re: If you had a large sum of money in the bank what would you do with it?
I would buy things that could be used as currency no matter how hard the SHTF.

Coffee
Tobacco
Ammunition
 Quoting: Dr. Daniel Jackson


Alcohol
Patriot_In_Waiting

My name is patriot_in_waiting and I'm a GLPTARD

If we get caught.....I'm deaf, and you don't speak English
Anonymous Coward
User ID: 69057032
United States
05/16/2021 01:01 PM
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Re: If you had a large sum of money in the bank what would you do with it?
Think "hard asset" and "liquid asset". Buy hard assets (mainly a piece of land to live off in hard times) and things which can be traded as and like cash, such as, ammunition, gold, silver, hard alcohol, tobacco and of course the holy grail guns. Right now you basically have digits in a bank which is insolvent.
Anonymous Coward
User ID: 58070314
United Kingdom
05/16/2021 01:02 PM
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Re: If you had a large sum of money in the bank what would you do with it?
Two chicks at the same time.
 Quoting: Anonymous Coward 79759660


wouldn't it stale the experience knowin they're only naked wid you for ca$h?

tryin to understand the psychology of hittin hoz
Shetland Pony Dog

User ID: 77353092
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05/16/2021 01:02 PM
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Re: If you had a large sum of money in the bank what would you do with it?
First thing I would do is move.
 Quoting: iseeyourmind


What if you already live in the perfect area?
 Quoting: Stella Wayten


Fortify your defenses and infrastructure,Make the place look uninhabitable to the casual observer .
Look at the cawk on that dawg
Education is a process,not a result
Anonymous Coward
User ID: 58070314
United Kingdom
05/16/2021 01:03 PM
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Re: If you had a large sum of money in the bank what would you do with it?
alcohol

tobacco

firearms
We Who Watch.

User ID: 79047905
United States
05/16/2021 01:08 PM
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Re: If you had a large sum of money in the bank what would you do with it?
You should have a large sum of money in the bank, for emergencies...and an investment portfolio...Unless you want to be a poor person...
 Quoting: BRIEF

Yep. Good place to start. That and a spouse that will stick with you through tough times.
There are over 7 billion people on the planet.
And I am one.
Anonymous Coward
User ID: 80361335
05/16/2021 01:08 PM
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Re: If you had a large sum of money in the bank what would you do with it?
Just curious what you would spend a large some of money on right now. With the way things are going I assume the value of a dollar will be falling pretty soon. So if you had a large sum sitting in an account somewhere, what would you do with it? I'm not talking about enough to buy a decent amount of land. Just enough to buy a new car with cash.

Put it in gold and/or silver?

Buy something to have fun in these last years of semi normalcy?

Put it all in crypto and cross your fingers that it doesn't bottom out?

What?
 Quoting: Stella Wayten


Pay off any and all debt. Invest in rural farmland and/or housing rental units. Give at least 1/10 to God (people in need, church, missions).
Gary UK

User ID: 80351204
United Kingdom
05/16/2021 01:09 PM
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Re: If you had a large sum of money in the bank what would you do with it?
I just want an acre of land. It's not even expensive...

If I did get rich, I'd buy an island and fortify it and make it totally independent.
Gary
BFD

User ID: 71192406
United States
05/16/2021 01:11 PM

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Re: If you had a large sum of money in the bank what would you do with it?
My theory that I call "The do something disease" comes into play here...Usually, the best course of action in situations such as these, the best thing to do is nothing...even when your gut is screaming that you need and must act and DO something...Don't.

The law of unintended consequences sets you up for failure...By doing nothing, you avoid many mistakes and having money in the bank in never ever a bad thing...
 Quoting: BRIEF


When I went to nursing school a long time ago we learned Loeb's Laws.
Loeb was a physician back in the early 1900s and postulated a set of laws that bear his name.
Most apply not only to medicine but also to life.

#1 If what you're doing is working, keep doing it.
#2 If what you're doing is not working, stop doing it.
#3 IF YOU DON'T KNOW WHAT TO DO, DONT DO ANYTHING.
#4 Above all else, never let your patient fall into the hands of a surgeon.
 Quoting: Anonymous Coward 80237159


Very good!

It may not be an original theory but it's not plagiarized...
 Quoting: BRIEF


I would add something to that list... something a Marine buddy told me years ago.

He said that step one in problem solving was to make sure there actually was a problem to be solved.

Not really a revision of that list but it's related.

It's saved my ass more times than I can count in the past 8 years or so.
Conservative Artist
INFJ
SallyValentine

User ID: 79601558
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05/16/2021 01:11 PM
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Re: If you had a large sum of money in the bank what would you do with it?
Fruit trees?
Anonymous Coward
User ID: 80306673
United States
05/16/2021 01:17 PM
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Re: If you had a large sum of money in the bank what would you do with it?
I don't have the bank account and don't really give a crap about money. If I had an account and found a large sum of money, I would transfer it to people who help the poor.
Anonymous Coward
User ID: 75806276
United States
05/16/2021 01:21 PM
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Re: If you had a large sum of money in the bank what would you do with it?
Land with water.

Pay in full and pre pay a few years of taxes.
shiftysailorgirl

User ID: 79665288
United States
05/16/2021 01:22 PM

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Re: If you had a large sum of money in the bank what would you do with it?
Just last night at a pizza joint....the employee said that she could ask for my vax card (personal medical history).

Soooo....I would pick the last 3 tyrannical businesses in my area and sue the fuck out of the owners who refused services.
I know the next response is "they were only doing that due to the governors mandate!" Or "if the owners didn't uphold the mandates they get fines by L&I"
I'm not saying that I would sue owners who's employees calmly and politely approacked and ask me to wear my mask (although I may never return to these stores).....I just want to go after the really icky owners....who wouldn't ket me buy food for my family.

For now....if someone asks for my vax card....I will show them my concealed carry permit.
"Ever since I woke up this morning, I wanted to be a pirate" Si Robertson
Anonymous Coward
User ID: 79191309
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05/16/2021 01:26 PM
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Re: If you had a large sum of money in the bank what would you do with it?
Just curious what you would spend a large some of money on right now. With the way things are going I assume the value of a dollar will be falling pretty soon. So if you had a large sum sitting in an account somewhere, what would you do with it? I'm not talking about enough to buy a decent amount of land. Just enough to buy a new car with cash.

Put it in gold and/or silver?

Buy something to have fun in these last years of semi normalcy?

Put it all in crypto and cross your fingers that it doesn't bottom out?

What?
 Quoting: Stella Wayten


I would take it all and put it in the most land I could purchase www.landwatch.com
Truth be known
Saul Good

User ID: 80088593
Canada
05/16/2021 01:26 PM

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Re: If you had a large sum of money in the bank what would you do with it?
Two chicks at the same time.
 Quoting: Anonymous Coward 79759660


Yay! There’s still hope for humanity. All is not lost. This was the correct answer in the 60’s, 70’s, 80’s, 90’s, 00’s, 10’s and for some reason has been lost. Normalcy is coming back!
“There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self.

Ernest Hemingway
Truth be known
Saul Good

User ID: 80088593
Canada
05/16/2021 01:31 PM

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Re: If you had a large sum of money in the bank what would you do with it?
Two chicks at the same time.
 Quoting: Anonymous Coward 79759660


wouldn't it stale the experience knowin they're only naked wid you for ca$h?

tryin to understand the psychology of hittin hoz
 Quoting: Anonymous Coward 58070314


It’s a normal young mans fantasy. They ain’t got no money for that anyway. Old dudes know better. Wife asks old dude if he’s cheating and all he can do is laugh and say “you think I want double this?”
“There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self.

Ernest Hemingway
Anonymous Coward
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05/16/2021 01:31 PM
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Re: If you had a large sum of money in the bank what would you do with it?
Wait until the markets come down then buy in on dividend / interest bearing instruments.
 Quoting: The Årtist


The dividend stock buying was last year when markets came down on covid.

Timing always matters.
Anonymous Coward
User ID: 75806276
United States
05/16/2021 01:33 PM
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Re: If you had a large sum of money in the bank what would you do with it?
Land with water.

Pay in full and pre pay a few years of taxes.
 Quoting: Anonymous Coward 75806276


I forgot to add, land in somewhere like Costa Rica, America is toast...
Anonymous Coward
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United States
05/16/2021 01:35 PM
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Re: If you had a large sum of money in the bank what would you do with it?
Buy silver, gold,guns and property

In that order too
Anonymous Coward
User ID: 79099887
United States
05/16/2021 01:38 PM
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Re: If you had a large sum of money in the bank what would you do with it?
Just curious what you would spend a large some of money on right now. With the way things are going I assume the value of a dollar will be falling pretty soon. So if you had a large sum sitting in an account somewhere, what would you do with it? I'm not talking about enough to buy a decent amount of land. Just enough to buy a new car with cash.

Put it in gold and/or silver?

Buy something to have fun in these last years of semi normalcy?

Put it all in crypto and cross your fingers that it doesn't bottom out?

What?
 Quoting: Stella Wayten


Cocaine and hookers...
Anonymous Coward
User ID: 80197660
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05/16/2021 01:38 PM
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Re: If you had a large sum of money in the bank what would you do with it?
maybe buy a plantation and hire local people to work it while living off the land while working this zoom world we live in ant a bad idea.
Anonymous Coward
User ID: 78177041
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05/16/2021 01:39 PM
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Re: If you had a large sum of money in the bank what would you do with it?
Buy DOGE!!!!!!
 Quoting: Anonymous Coward 77294967


Why buy DOGE, it's a dead dog. Safemoon is the way!





GLP