Sunshine
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it's many banks
many investments
many things...
it's never having all your eggs in one basket.
it's always having alternatives, and directives, goals and savings.
its CD's... it's money markets... Its stocks, ... its 401K's and it's savings
it's many smart moves working together
being wealthy is wonderful. staying wealthy takes work and is certainly no accident |
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Hans
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by investing it in different areas, such as property, stock market or business. |
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maddog
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They hire financial planners and let them take care of all their financial stuff. |
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Bored Enough To Be Here
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they pay someone to manage it for them. |
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D S
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Rich is in the mind of the beholder. Some people spread their money around because banks only insure your account up to a certain amount. I never would put all of my millions in the same bank. It is a good idea to invest some of your cash, share some, give some away.
Make sure that you have a good tax person and accountant to help you with tax liabilities. |
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LikeItorNot
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They save, so they could just have one bank, they just make the best Cd selections, liek which one pays more intrest , and if they have a lot of banks, they get more intrest, of course they could possibly get more penalties, it really depends on the person |
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Davy Jones Santa
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Very well thats why there rich |
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?
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keep in pockets. |
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Mara
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Unless they are working with cash, they have it invested in various forms, from real-estate and art, to whole companies and other forms of investments either offshoar or in low or no-tax financial vehicles which exempt them. They may even own the bank or trust company and have funds invested in other financial institutions. They hire very smart and talented people to help them make their wealth grow ... :) |
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Hey Moe
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It is funny that I would be answering this question, since I am as poor as dirt, in fact poorer than dirt they will at least pay money for good dirt. Well back to the answer to your question I would be believe if they are wise and rich and wish to stay that way they would diversify their investments, There are many options out there Stocks, Mutual Funds, T-Bills,Real Estate, Multiple Savings Accounts,Money Market Funds IRA, futures similar to gambling buy items hoping there value will increase such as Beef, produce gas ,oil etc big risks and sometime big returns, Businesses, Charity to list a few. a well balanced portfolio I would think best balancing risk, security and return on your investments. Most banks have wealth management programs there are also many investment firms out there, I wish I had the problem of figuring out what to do with all my money, So when you invest your money and make millions remember to toss that bum with the sign an extra dollar it will probably be me.. |
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Sheila E
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One way they manage their money is investments in diverse places. |
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cuddly_lez85
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They have personal assistants.
Also they have people at their business manage the accounts. |
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Laiping
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They find a very honest and reliable Certified Financial Planner. They are very quiet about their wealth. |
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