Where would you store (not invest) $10,000,000?

by 31 comments
Where would you store $10,000,000 with no intent to grow it, but only to store it so that it is liquid or semi-liquid?

Banks? Foreign Currency? Stocks? Bonds? In the ground (lol)?

Brandon
#off topic forum #$10 #invest #store
  • Profile picture of the author mywebwork
    If you're having a problem with that PM me and I'll give you my PayPal address!



    Seriously I'm confused - what does this have to do with Internet Marketing?

    Bill
  • Profile picture of the author dvduval
    Right now it is tough to find a good place that will earn good interest. I would recommend CD's. You can get 4% for example at PenFed Credit Union. But then the problem with that amount of money is you have to spread it around to a bunch of different banks (which might be worth the trouble) because of the FDIC limit.

    I would still recommend going at least 50% CDs, and then you'll probably need to invest. Mutual funds on Intermediate Term and Short Term Treasuries, Corporate and State Bond Funds, etc. You might also want to put something into food and energy stock funds. Everybody needs food and energy. Transportation is a good one too (Buffet is heavy into railroads). When the economy picks up, so will transportation. Good luck!
  • Profile picture of the author George Wright
    Originally Posted by rushindo View Post

    Where would store $10,000,000 with no intent to grow it, but only to store it so that it is liquid or semi-liquid?

    Banks? Foreign Currency? Stocks? Bonds? Dirt (lol)?

    Brandon
    I would donate it to Allen Says for Kiva and any other good cause he wanted to use it for.

    George Wright
  • Profile picture of the author Lou Diamond
    Hello,
    I would sleep on it for awhile,put it under your mattress.
  • Profile picture of the author timpears
    To store liquid assets so that you can have quick access to them, probably the best place is to put them in a money market account. They usually pay a decent rate of interest so you can stay even with inflation or close to it, and you can access it very quickly if you need it. You can get such accounts at banks or stock brokerages and other types pf financial entities which will typically pay a little higher rate than the banks.
  • Profile picture of the author rondo
    Savings accounts at most Aussie banks are paying more than 5%.
    What are the rates like in the US?
  • Profile picture of the author Silas Hart
    Probably blue chip stocks, such as Walmart.
  • Profile picture of the author dvduval
    Most people would always have an intent to grow it. In reality, if it sits with no interest, it is becoming less valuable. There are lots of relatively safe funds with someone like Vanguard or Schwab, and if you are going to put it in the bank, you might as well take the interest.

    But 10,000,000 in banks is actually kind of a pain, because you would need to use 40 banks to stay under the FDIC limit in each, yet this is the safest and most liquid way to go. Certain funds in Vanguard and Schwab are liquid (can get the money within a few days).

    On a side note, for people that want to hide the money in the short term, they often overpay their credit cards.
  • Profile picture of the author DogScout
    Wrap packs of it up in saran wrap and then tin foil.
    Put a couple in Tupperware until you have a lot of Tupperware filled with money.
    go to a pond and find out how deep it is in the middle.
    put all the Tupperware into plastic suitcases with bricks and tie them with plastic rope together

    attach a flotation device about 8 feet short of the depth of the pond.
    Take very careful measurements of the location.
    Drop the suitcases overboard so the flotation device is about 8 feet from the surface.

    When you need to make a 'withdrawal, just use a long hooked pole to grab the flotation device and haul up the suit cases. Take what you need and drop the rest back in the pond.

    Watch the news
    sometimes a location will lower a pond water level to dredge it
    (remove algae, etc)
    If that happens you want to shorten the rope.

  • Profile picture of the author theemperor
    Originally Posted by rushindo View Post

    Where would store $10,000,000 with no intent to grow it, but only to store it so that it is liquid or semi-liquid?

    Banks? Foreign Currency? Stocks? Bonds? Dirt (lol)?

    Brandon
    I take it this is a hypothetical questions? If not i'll take a 0.5% commision for my advice

    Anyhow I would say just whack it in a bank account, to choose the best one, take advice from different lawyers / financial advisors / other rich people.

    Remember that with inflation you will lose money in real terms every day.

    Bonds and Stocks are very liquid but carry risk of losing capital of course.

    Dirt - if you mean pornography ... could be a very good investment, and very "liquid".
  • Profile picture of the author nullrouted
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  • Profile picture of the author SurviveUnemployment
    Gold coins and bars in strategically hidden/buried coffee cans. 10-20 coffee cans should do it, and if one gets lost, you've still got the others.
  • Profile picture of the author travlinguy
    First I'd take some of the money and go to a remote location and build a huge underground warehouse. Then I'd take the rest of the cash and buy whiskey, vodka and other liquor. And no, I'm not a boozer.

    These items hold their value because they're tangible unlike paper currency which loses more of its value daily.
  • Profile picture of the author AllyW
    You could always dig a hole and bury your money (metaphorically speaking), but why would you? Why don't you invest it wisely, live off the interest, and make donations when you feel like it? And if your funds grow, you have more to give away. Or waste on frivolous expenditures -- hey, it's your money.
  • Profile picture of the author SurviveUnemployment
    I don't recommend the gold in coffee cans idea above, but since the question was "...store (not invest)..." that's how I'd do it.
  • Profile picture of the author Troy_Phillips
    I was going to say in the freezer next to the ice cream but checked and it is already filled to the brim with pocket change .

    Now I am just kidding ... everyone knows us hillbillies use Mason jars .
  • Profile picture of the author Steve Powers
    Wow,if I have that amount,I will make a specific financial plan.I will use a part of them for bank account,then a part for bonus and last for stocks.Never put all the eggs in one basket.
  • Profile picture of the author igorb
    I would surely use it for real estate business.
    Not sure if it`s liquid or semi-liquid, but at the moment smart investing in real estate really brings some powerful opportunities.
    Of course, deep research is required. You have 10 million reasons to make it right
  • Profile picture of the author artwebster
    The first thing you must ask yourself is why you feel that storage is a good idea. Although the sum involved is substantial it can be easily converted to small assets like diamonds which can be concealed just about anywhere.

    The very idea of storage indicates a nonchalance towards the money that could also indicate a lack of commitment towards it. If that is the case, utilise a short term money broker specialising in 24 - 48 hour commercial loans and use the profits to donate to charities or finance a pet project of your own.

    Meanwhile, maybe you should sit and think about the illogic behind the storage idea and look at the situation more realistically.
  • Profile picture of the author Richard Tunnah
    I'd not store it! I'd invest that money into property. I can only talk about UK here as I don't know about other countries. BUt in the UK property has doubled in value on average every 10 years since 1950'ss (when property prices started being tracked). You could then rent out said property and give the rent away to charity if you wished. Rent can be earnt tax free in the UK (at the moment) using a legal loophole.
    That's what I'd do.

    Rich

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