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Securely parking a million dollars Archived From: Finance

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I've kept my money in a "High-Yield" savings account, but now it is earning around 1.25%. This is crazy. I told the bank I am taking the money to another bank, they seemed to couldn't care less. Any suggestions on where to park the money in the mid-term until the Fed starts to bring rates to a normal level?
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put some in the stock market in some ETFs and commodities buy some gold it's on sale now at around 900, next year youll be lucky to get it below 1500 oz.


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If you really have a million dollars, you can easily afford to see a financial advisor.


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There are many, many, many threads on this already including a stickied post right here.

Get ready to get flamed.


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LDGFE


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lostdude said:LDGFEMTRSS


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jayK said:If you really have a million dollars, you can easily afford to see a financial advisor.If he really has $1M earning 1.25% in a non-FDIC-insured account, he can't afford NOT to see a financial adviser.


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I've got a good parking spot for you in my Fidelity account.


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SnoopDoug said:I've got a good parking spot for you in my Fidelity account.

that's what she said


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I already have 25k in Gold, 70k in TIPS, and another 50k in various ETFs. This is my emergency money I've been saving over the years. Amazing there is no safe place to park it these days.


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How about twenty $50K reward checking accounts?


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You could ladder $100K CDs at 10 different financial institutions. Then as they mature turn them into 6-month or 12-month CDs. This way you will always have some liquidity since you will always have CDs coming due.


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there is no place safer than under your bed.
If i were you, i would cash out all in dollar bills, secure in stacks neatly and sleep on it.
Imagine falling asleep with the great smell from the bills, imagine the great dreams you are going to have, imagine how girls will open their legs when they see your bed.


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BrlDsguise said:You could ladder $100K CDs at 10 different financial institutions. Then as they mature turn them into 6-month or 12-month CDs. This way you will always have some liquidity since you will always have CDs coming due.But any interest you earn won't be protected by the FDIC unless you have the correct beneficiaries on each account. Try a smaller $amount at more institutions like $75K at 13 institutions. Just be sure to calendar for the maturity dates.


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ThursdaysChild said:BrlDsguise said:You could ladder $100K CDs at 10 different financial institutions. Then as they mature turn them into 6-month or 12-month CDs. This way you will always have some liquidity since you will always have CDs coming due.But any interest you earn won't be protected by the FDIC unless you have the correct beneficiaries on each account. Try a smaller $amount at more institutions like $75K at 13 institutions. Just be sure to calendar for the maturity dates.

Wow, having more than $100k in savings is such a headache! We should try to avoid it as much as possible!


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When adjusting for inflation, keeping all in cash (I.E. physical notes) I would be loosing 4.1% due to inflation. Not very logical. 13 accounts managed is a lot of work for little return. Amazing there are no safe places in life. We should all thank the Fed for these great rates.


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nasnec said:there is no place safer than under your bed.
If i were you, i would cash out all in dollar bills, secure in stacks neatly and sleep on it.
Imagine falling asleep with the great smell from the bills, imagine the great dreams you are going to have, imagine how girls will open their legs when they see your bed.
keeping it in bills is risky. while one million one dollar bills is quite a few, it could be stolen in just a couple of trips to the getaway car in boxes. Think pennies. One hundred million pennies. At 3 grams per penny, that's roughly 660,000 lbs of pennies. Even the craftiest of theives isn't going anywhere with your hard-earned hard cash without some construction equipment. Of course, neither are you.


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lorcha said:lostdude said:LDGFEMTRSS
BLACK

or

REDDD

or

HUKER

or

BLOWW


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calvinandhobbes said:nasnec said:there is no place safer than under your bed.
If i were you, i would cash out all in dollar bills, secure in stacks neatly and sleep on it.
Imagine falling asleep with the great smell from the bills, imagine the great dreams you are going to have, imagine how girls will open their legs when they see your bed.
keeping it in bills is risky. while one million one dollar bills is quite a few, it could be stolen in just a couple of trips to the getaway car in boxes. Think pennies. One hundred million pennies. At 3 grams per penny, that's roughly 660,000 lbs of pennies. Even the craftiest of theives isn't going anywhere with your hard-earned hard cash without some construction equipment. Of course, neither are you.

And the metal in those pennies would be worth a lot more than a million!!


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