/biz/ - Business & Finance » Thread #939322

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Anonymous ID:We8Rj1wb Tue 27 Oct 2015 23:06:15 No.939322 View Reply Report Delete

Quoted By: >>939368

Hey /biz/.

My parents recently sold a house of theirs and are looking at closing in on ~1.5 million. They have no idea what or where to save this money and were thinking of just using a high interest savings account as they are against buying any securities etc. Anyone have any idea as to what they should do?

If you have 1.5 mill and wanted to live comfortably for the rest of your life, what would you do?

Thanks

Anonymous

Anonymous ID:/9i0Yh4i Tue 27 Oct 2015 23:16:17 No.939340 Report Delete

Quoted By: >>939697

If they are against buying securities in any way, shape, or form, then yes, their only option is high-yield savings.

You should probably at least remind them that the US government has never defaulted on a treasury debt payment in its over 250 years of its existence, and there a lot of very, very smart people that are confident that streak will continue for the foreseeable future.

Anonymous

Anonymous ID:We8Rj1wb Tue 27 Oct 2015 23:18:42 No.939347 Report Delete

Quoted By: >>939388

I live in Canada and right now our interest rates are pretty shit so buying bonds seems like a bad idea.

Anonymous

Anonymous ID:kF/xW95d Tue 27 Oct 2015 23:33:08 No.939368 Report Delete

Quoted By:

>>939322
>If you have 1.5 mill and wanted to live comfortably for the rest of your life, what would you do?

depends on how old they are but generally put the whole wad into a "safe" mutual fund USA has some biggies vanguard very low cost

definitely short term bonds 1yr less or GNMAs better rate that savings but still very safe

Anonymous

Anonymous ID:T/MzADzD Tue 27 Oct 2015 23:51:52 No.939388 Report Delete

Quoted By: >>939731

>>939347
Interest rates are pretty shit everywhere right now, been hearing rumors about raising them for years but no action. I work for a big bank and you will be looking at .08% on a high yield savings at best and CDs are not much better. If they want to make any real $$ securities really are the best way to go, tax free bonds are not bad. There are some random smaller institutions that are on the verge of collapse that offer interest rates in a desperate last ditch attempt to scrounge up a client base...

Anonymous

Anonymous ID:Rwd1TVmb Wed 28 Oct 2015 06:57:43 No.939697 Report Delete

Quoted By:

>>939340
Buffett puts all his "excess" cash into treasuries. I think he only pays himself $100,000 annually though. the rest is in BRKA stock.

He's worth about $60 billion personally.

Anonymous

Anonymous ID:fVp0udkK Wed 28 Oct 2015 07:59:28 No.939731 Report Delete

Quoted By: >>939755

>>939388
Out of curiosity how come most western "high yield" savings accounts are <2%? My third world country has up to 5-6% yield for whatever the name, account where you deposit your money and can't touch it for a limited time period. Not even local banks, it's all foreign banks that do this, is it a ploy to get more people to use them or what? Most people use cash only, even people who get paychecks on bank accounts prefer to take it out of an ATM and spend in in bills and not using credit/debit cards.

Anonymous

Anonymous ID:3qvWtOv4 Wed 28 Oct 2015 08:41:06 No.939755 Report Delete

Quoted By: >>939765 >>939991

>>939731

Western nations have enacted policy and legislation that strongly benefit you if you become a good goy debt slave as opposed to becoming self-reliant and store the money in a savings account as what occurs in asian nations.

What this means is western banks borrow from the east there's plenty of money sitting asian savings accounts and because it's cheaper than offering real returns to western savings-account holders

Anonymous

Anonymous ID:fVp0udkK Wed 28 Oct 2015 09:01:56 No.939765 Report Delete

Quoted By:

>>939755
But you have much easier access to investment worth shit, giving you 6-10% return. There has to be a less conspiracy tier reason.

Anonymous

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Anonymous ID:dsN5ptZm Wed 28 Oct 2015 12:53:08 No.939991 Report Delete

Quoted By:

>>939755

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