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 #$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 rushindo
    Originally Posted by mywebwork View Post

    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
    Are you serious? The description of the forum is "Where We Talk About Making Money" not just Internet marketing. Besides, once you make the money, wouldn't you want advice from the people that helped you make it about where to put it?

    Brandon
  • 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 SantiSantana
    Although the question does not seem to relate to this forum´s theme I will try and give you some constructive input.

    What it comes down to is why you want to store it. If you are trying to hide assets against a lawsuit, be awarethat when you get found out ( notice I didn´t say IF) that will give you more trouble than benefit.

    If your aim is to evade taxes, it´s even worse than the previous scenario. Nobody is better at finding money than the taxman. Nobody.

    If what you want is to optimise yuor tax return, there are perfectly legal ways to do that. Simply get in contact with tax attorneys who will draw up a plan for you to set up your asets in such a way that you don´t pay moe than you should, yet you comlpy with your obligations.

    If the money is totally clean but you just want it set aside to cover any future possible problems ( some businesses fear that the next product they are developing may cause lawsuits, as it happens with Big pharma) again you need expert attorneys to set you up with proper insurance and legal schemes to make those assets not vulnerable to such issues (incorporation, location of business, offshore accounts and so on).

    The point is, when you are talking about such a big amount of money you need professionals to asist you in protecting yourself and your assets. They are there for a reason and their fees will always be less than the cost of not hiring them.

    If you are looking at it form the perspective of something illegal, this is definitely not the place to ask.
  • 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 SantiSantana
    And if you like a bit of risk, Mr Bolton is back at Fidelity (He was their star fund manager for 28 years with the Fidelity Special Situations Fund). He will be starting a China focused fund about March 2010. the guy is genius.
  • 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 Lett
    I would convert it to other currencies, for example in euros and pounds, because dollar will lose all of it's value and stop exist as currency in 5 years. I would make a secret wall in my garage where i would make huge safe which is impossible to break
  • 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 rushindo
    Originally Posted by George Wright View Post

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

    George Wright
    George, definitely have plans for giving according to my preferences, which is actually the main reason I want the money liquid and could care less about it growing.

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

    Savings accounts at most Aussie banks are paying more than 5%.
    What are the rates like in the US?
    Regular U.S. savings accounts rates are low, I would say around 0.5% on average. Some banks have special savings accounts where you can earn up to 5%.

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

    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".
    No it's not hypothetical. Plan on selling a company soon and plan to have more than 10M after taxes. And by dirt I meant burying it in the ground, but I was joking ;-). And I agree about asking the experts, but I like to here other's opinions as well.

    Brandon
  • 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 rushindo
    Originally Posted by SantiSantana View Post

    Although the question does not seem to relate to this forum´s theme I will try and give you some constructive input.

    What it comes down to is why you want to store it. If you are trying to hide assets against a lawsuit, be awarethat when you get found out ( notice I didn´t say IF) that will give you more trouble than benefit.

    If your aim is to evade taxes, it´s even worse than the previous scenario. Nobody is better at finding money than the taxman. Nobody.

    If what you want is to optimise yuor tax return, there are perfectly legal ways to do that. Simply get in contact with tax attorneys who will draw up a plan for you to set up your asets in such a way that you don´t pay moe than you should, yet you comlpy with your obligations.

    If the money is totally clean but you just want it set aside to cover any future possible problems ( some businesses fear that the next product they are developing may cause lawsuits, as it happens with Big pharma) again you need expert attorneys to set you up with proper insurance and legal schemes to make those assets not vulnerable to such issues (incorporation, location of business, offshore accounts and so on).

    The point is, when you are talking about such a big amount of money you need professionals to asist you in protecting yourself and your assets. They are there for a reason and their fees will always be less than the cost of not hiring them.

    If you are looking at it form the perspective of something illegal, this is definitely not the place to ask.
    Hello sir, no I'm not doing anything illegal, unethical, shady, etc. I almost got offended but had to realize this is a public forum and you don't know me from Adam. I do agree about consulting experts, which I will, but I like to hear other people's opinions as well.

    Thanks for your input.

    Brandon
  • 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.

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