Post by
PoorManQ45 »
https://forums.nicoclub.com/poormanq45-u17729.html
Tue Jan 11, 2011 4:48 am
I like how a lot of you mentioned putting a portion "in the bank".
I'm curious if you're referring to an actual bank or an investment fund. If it's a bank, that is seriously dumb. First, no insurance over $100k. Sure as hell hope they don't mysteriously "go under". Interest rates are ridiculously low. Some banks don't even like to have that much of your money in fear that you'll request to remove it all at once which would cause them huge issues as they are usually investing it through loans, mutual funds, etc...
An investment fund with a proper manager, if you can't do it yourself(would you want to wait time at that point!), would be the way to go. Diversify between low risk low gain and high risk high gain funds with an assortment of stocks and commodities thrown in. Doing this would make it extremely difficult to run out of money.
I'd probably lock up a couple million in a Roth IRA just in case. Pay taxes up front and seriously BANK on interest at retirement.