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-   -   Large Sums of Money: Where Does All that Money Go? (https://www.askmehelpdesk.com/showthread.php?t=268053)

  • Oct 10, 2008, 08:40 PM
    DanPatrick10
    Large Sums of Money: Where Does All that Money Go?
    This may seem like a silly question, but I never really thought about it until now. What do people do who have large sums of money (millionaires and billionaires) in cash? FDIC only insures up to 100 G's. Do they put it in 10 different banks? Surely they don't invest all of it.
  • Oct 11, 2008, 01:23 PM
    Fastfun1

    Don't know, bud. Read the new much? FDIC is up to $250k, and that is per account, i.e. individual, joint, individual w/POD, etc. not per bank. Check out the EDIE tool on FDIC's site for more info on that, chief. Peace...
  • Oct 11, 2008, 01:39 PM
    ScottGem

    Most people with huge amounts of money (is anyone left ;) ), invest their money in various instruments. It could be stocks, bonds, real estate or various other types of investments. Very few leave a lot of cash lying around, whether in paper or bank accounts.
  • Oct 11, 2008, 01:39 PM
    Fr_Chuck

    There are special programs that insure lots more money, but you have to be aware of it, and put your money in the specific banks that use them.

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