What do wealthy people do with their money? The FDC only Secures $250k per account, so do billionaires open 1,000 accounts?
I always wanted to know how rich people keep their money safe? do you just put 10 Million into a regular bank? I hear people buying AAA Bonds or investing with Hedge Funds, but mostly I hear bad things about Hedge Funds.
Answers & Comments
Wealthy people DO NOT keep much money in banks, that's one reason why they are rich. Many have investments in the stock and/or listed options markets while many have portfolios of fixed income assets, while most of which is laddered.
The real rich often invest in collectables, commodities, or real estate.
They invest it. Anyone would be very foolish to keep large sums in a bank account.
They usually invest in the stock market.
they put it in the stock market
that's why the stock market has been so overpriced for decades. rich people needing to stick their money somewhere.
there's various mutual funds and so on with varying degrees of risk vs rate of return they can pick from