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What Do You Do With Large Amounts Of Money? (lemm.ee)

submitted 1 year ago by Rocky60@lemm.ee to c/asklemmy@lemmy.ml

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Suppose you win 100 million. What do you actually do with it? Banks only guarantee 250,000. Do you have to invest it? Is there anywhere you can just let it sit and draw interest?

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[–] AttackBunny@kbin.social 1 points 1 year ago

You can also gift something like 12 million in your lifetime tax free, so pass on as much as you can, to your family that way, before you die.

If you don’t keep all your money in 1 bank accounts the FDIC insurance will cover it. Iirc it’s either 250k per account, or maybe it was per person, per institution.