if u won 250 million and took the cash-where would u put it-don't most banks only insure up too 100k?
461356
FDIC insures up to 100K. If you were invested, most brokerages are covered by SIPC insurance.\n\nTerms of SIPC insurance claims that customers of a failed brokerage firm get back all securities (such as stocks and bonds) that already are registered in their name or are in the process of being registered. After this first step, the firm's remaining customer assets are then divided on a pro rata basis with funds shared in proportion to the size of claims. \n\nIf sufficient funds are not available in the firm's customer accounts to satisfy claims within these limits, the reserve funds of SIPC are used to supplement the distribution, up to a ceiling of $500,000 per customer, including a maximum of $100,000 for cash claims. Additional funds may be available to satisfy the remainder of customer claims after the cost of liquidating the brokerage firm is taken into account.\n\nSIPC is your first line of defense in the event of a brokerage firm failure. No fewer than 99 percent of eligible investors get their investments back from SIPC. From its creation by Congress in 1970 through December 2001, SIPC advanced $513 million in order to make possible the recovery of $13.9 billion in assets for an estimated 622,000 investors.\n\nWhen a brokerage is closed due to bankruptcy or other financial difficulties, the Securities Investor Protection Corporation steps in as quickly as possible and, within certain limits, works to return to you cash, stock and other securities you had at the firm. Without SIPC, investors at financially troubled brokerage firms might lose their securities or money forever…or wait for years while their assets are tied up in court.
309989
You pay taxes on the interest you are paid by the bank, not on the money itself. If you have $1000 and get $20 in interest, you pay taxes on the $20. The tax on the $20 may be around $5, but you are still $15 ahead of where you would be if you put it in a safe box
948371
You deposit your money in different banks which none of them exceeds 100.000 USD.  If your money is too big then you shouldnt deposit your money someone else's bank. You can open a bank or keep them in a safe. The safe could be hosted by some bank.  If you do it then noting undesired happens to your money. Good luck!\nPs. No consultation fee. Feed a poor.
906659
These are usually purchased through banks.  They have a set % interest rate for a set period of time.  Cashing them early results in a penalty.  They are FDIC insured, so there is no chance in loss.  You can about as good or better with your money in a Money Market account right now.
1160431
You would have to be putting some of your own money into it and have  a good loan to value.  They will also want to be on title  should things go bad.
692766
Odd-Lot stores, Job-Lot stores, 99cent stores, Salvation army stores, Thrift shop, Loot magazine, Craig's list, garage sales, fleet markets...neighbors moving out sales...\n\nand $500 Certficates of deposit bought at the bank every month...one year duration...and renewed at the end of the year. When the year end rolls around and the first comes due...add it to the $500 you use to purchase your CD's and make it $1000 and purchase a new $1000 CD. At the end of five years you will be so used to putting money away it would have become as natural to you as breathing...and it won't even dawn on you that $2500 is available to you at the end of each month. That is called paying yourself. And is independent of your Keogh, Roth IRA's, 401k's and social security money or anything resembling an annuity. It is all these things rolled into one and the emotional satisfaction of the discipline and the fact that you control exactly the money you put away...cannot be beat by anything a broker could swindle you...er...convince you into investing.\nNow that's frugality in my book.\n\nOh, yes...I have no credit cards either. Debit cards take their place. Can only spend what I have. Erma Bombeck is to others what Suzie Ormon is to the frugal.
1177365
Wow everyone seems to do exact. I however round up to the nearest dollar. I've been able to put away a few hundred extra dollars a year by doing this.\n\nAlso, if you ever go over, you'll know you have a little extra in there to protect you. To me, doing exact is not good. It only takes a small mistake and your check book is off.
41452
A billion dollars is stupid money. I'd keep $200million and give the rest away to deserving causes. I would be more than happy with what I had left and living off the interest. As daft as it may sound, I think knowing the rest had gone where it's most needed would provide more satisfaction than the whole billion could buy.
309510
Here is a good way to do it.\n\nInvest 100 $ in the following way. Put 80 $ in a money market fund. Assuming 4% interest the 80$ will grow to 100 $ in 6 years time. This is your money back guarantee.\n\nInvest the other 20$ in an Stock Index ETF. Returns in six years will vary, but you have a good chance of winning a healthy percentage and a extremely small chance of loosing more than a third in six years. This joker part of the investment will be worth between 12 $ (at worst) and 30 $ (at best) after six years.
1131608
It's not possible.  The money is guaranteed by the company that sold it to you for the cash.  Money orders and cashier's checks represent as Cash on a balance sheet.  They cannot bounce like a check.
1113628
I always said if I won some major cash I would give a portion to a homeless family .\n\nI would had a financial planner invest some in stocks and etc.\n\nPut some in the bank and live off the interest.  Maybe travel a little
1055869
nobody is going to do 100% on a investment prop you are going to need to put money down. I am a Sr. manager at a mortgage bank
1100226
Put it in a savings account
906256
If I survived the heart-attack from winning I would initially put the money into a short-term fixed bank account (eg. 3 or 6 months) while I decided - to not only get the highest interest rate but to stop me spending it stupidly - only fools rush in.  After 3 or 6 months I would probably have a more clear view on what to do.  \n\nSome of the things I would do may include:\nmore lotto tickets\nreal estate\nshares\ndonate to charity\nfinancially secure my family & relatives\nparty hard for a couple of weeks with friends\nworld backpacking - spending months (or years) at a time in different countries\n\nThey may say "Money can't buy happiness"\nBut I think it would come pretty close to it....\n\n(",)
1112338
Most banks won't do business with you unless you have an account with them. Also it would help if the ink on the 100 was dry before you tried to cash it! Just Kidding!
1140593
There really is no "safe" place to put the money and get a "big" return.  Generally, the two are on complete opposites of the spectrum.  Be safe=low return, risky=possible high return
122972
Take it to the bank and deposit it.