The Safest Place to Keep $5-$10 Million
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- เผยแพร่เมื่อ 18 ก.ย. 2024
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People who are able to retire early are lucky . I have 15 months till 65 and need to look at calling it quits, my only fear is running out of funds much later, thus keen on investing. What could be the safest possible ways to invest for cashflow, in order to afford lifestyle after retirement?
consider investment planning, learning from a well experienced advisor is invaluable
That's right. I am a wife, mother of four and new grandmother, 28 years in Corporate America, retired recently at 57 after discovering the freedom investing could provide, been contributing to my portfolio since the pandemic in early 2020, and have grown a $250,000 savings account to almost 1 million, credits to my investment advisor.
Could you possibly recommend a CFA you've consulted with?
I'm cautious about giving specific recommendations since this is an online forum and everyone situation is unique, but I've worked with "Melissa Elise Robinson" for years and highly recommend her. Look her up to see if she meets your criteria.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
Hello, I am due for retirement in two years, I'm a senior citizen but I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $50K per year but nothing to show for it yet.
In this current unstable markets, It is advisable to diversify while retaining 70-80% in secure investments. looking at your budget, you should consider financial advisory.
I think you're better off with majority investment in S&P500 and uprising equities cos they always outperform. Also speaking with an advisor can help with pointers. I've been in contact with one I reached through commentaries here, she has been really helpful.
Mind if I ask you to recommend this particular coach you using their service?
Finding financial advisors like "Rebecca Nassar Dunne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Mrs Ramsey: "Honey, can you hold my handbag for a second?"
Dave: **puts it in a mutual fund**
If you want to end up with a million dollars buy a boat for 2
I have a few questions and i'll be grateful if someone will reply. how can i invest in stocks? or how i can help to grow a portfolio? I want to invest around 800k from my CD. What are the best strategies?
Knowledgeable Investors know where and how to put money in order to reduce risk and maximize returns. See a market strategist with experience if you are unable to manage market conditions.
Opting for an inves-tment advisr is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio kept increasing by 10% monthly.
Hey friend, can I work with your Fiduciary?
Yeah, she is Jennifer Leigh Hickman, look her up. Anyone is free to contact her.
Searched the web and saw her profile and accreditations, someone with great experience I must say, thanks!
My advice to new investors: Buy good companies stocks and hold them as long as they are good companies. Just do this and ignore the forecasts and market views which are at best entertaining but completely useless.
The key to big returns is not big moving stocks, Having the correct size on and turning your edge as many times as necessary to reach your goal. My worry vanished after I made the decision to begin working with a financial counselor and began to get large monthly profits.
You must establish your own procedure, control risk, and adhere to the plan through thick and thin while also financial advisors have a lot more knowledge and expertise in this area and getting better because nobody knows anything.
Accurate asset allocation is crucial, I used hedging strategies to allocate part of my portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay finan-cially secure for over five years, yielding nearly $1 million in returns on invest-ments.
pls how can I reach this expert, I need someone to help me manage my portfolio
Amber Michelle Smith has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
Vanguard has a HYSA bank sweep program that lets you manage 1 pot of money, but spreads it between 6-7 banks each with their own FDIC Insurance. That could be one way to keep a lot of it in one place but keep the FDIC security.
This would require Dave to actually know stuff beyond the surface level grifting. 😂
I’m looking forward to having this problem
I bought 2 bitcoin at $40,000 wanting to exit with at least $200,000 but at the moment i am worried that bitcoin won't get to $100k in this bull run, as post halving has not seen bitcoin break its ATH. I need advice, should i cashout now and put my money in safe investments or still hangon?
Don't sell! I believe Bitcoin will reach $150k this bull run. If you're unsure, consult a financial advisor who specializes in crypto investments for their clients.
I was in a similar situation a few years ago; I took profits, but it went higher. Realizing I wasn't good at timing the market, I started working with an advisor, which helped me build a $1.6m stock and crypto portfolio. It all comes down to insight and patience. Remember, time in the market is better than timing the market.
This is very insightful. Hope you don't mind me asking you to recommend your advisor?
I'm careful about giving specific recommendations since everyone's situation is different, but I've worked with Melissa Elise Robinson for years and highly recommend her. Look her up online to see if she's a good fit for you.
I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip
Most brokers can FDIC $2 mil in mm. Another way is short term Treasury Bills. They are 100% insured by government.
and you trust the government ? LOL
well the drawback there is you have to refresh that every few months and they're not fully liquid all the time
@@godsdozer FDIC is the government
@@godsdozerwell considering FDIC is government backed and so is all USD, you better trust them with things like short term bonds if you have any USD at all.
@@samwilliams6679 backed by a FDIC government that is 34 trillion in debt LOL. Are you calling that stable?
Wealthfront offers accounts with FDIC protection in the 7 figure range. They use multiple banks to do this.
Dave got wealthy spewing the most basic common sense stuff that anyone should know but apparently don’t. Live below your means and don’t get in debt beyond a reasonable mortgage. Pay cash for stuff and invest the rest. It really is that easy folks. No need for a fancy course.
It is simple I'll agree. However, the course Financial Peace teaches more than just the common sense basics of debt reduction and saving for the future. It offers a Biblical and Goldly perspective on finances. The course gives lessons with detailed insights on behavior that can lead to bad financial decisions and maps out a stradegy for success in personal finance, real estate, insurance coverage, and investing. The most important part of the entire course is learning to give and getting yourself in that position to be able to do so.
Wow look at you so smart wow
Goldly 😂😂😂😂 LMFAO@@davidpanos4042
Yes but when you have millions in retirement to make that stretch you will meed to strategize based on a lot of factors. This is the part that is harder for the everyday person to understand.
I keep $5-$10 million in my very large sock drawer. Works for me.
😊No FDIC insurance in that sock drawer. LOL😂
No fed access/visibility in that sock drawer though…
Hey Daniel could you please let me know what drawers you have. Thanks
@kellymorvant fdic insurance couldn't cover all accounts
I had a friend that was involved in the family optical business (retail and labs). They used to convert their daily receivables into $100k / 7 Day Treasury Certificates. A week or two later, they would cash out as many as needed to handle liabilities.
Edit - I think the shortest term now available is 4 weeks. Might still work, after you have 2-3 months worth of operating cash in the bank.
Large companies like Apple and Microsoft keep their cash in short-term US Treasuries. You don’t need to wait for them to mature when you need cash, because you can also sell them for cash without much, if any, of a loss due to a spread
The strategy you are mentioning is to split the money into fourths and invest them in 28 day Treasury Bills (4 weeks) one fourth a week for 4 weeks so that 1 fourth of your money matures every 7 days.
This is one of the safest ways to hold large amounts of cash/cash equivalents because it is backed by the US Government and you are still fairly liquid.
Apparently Warren Buffet utilizes this strategy with Berkshire Hathaway.
I would trust this method over over-leveraged banks for large amounts of cash.
Then again, what you can buy for an ounce of Gold has held up against inflation for thousands of years…
(I know precious metals is a dirty word at Ramsey Solutions even though arbitraging the gold/silver ratio over the last 50 years has beaten the market…..)
*Not Financial, professional, accounting, or legal advice. Please seek a qualified professional in your jurisdiction of choice).
What do you do if you cash out into a failing bank? You might have no choice if it’s the one your brokerage uses and bond maturity just happens to coincide with the failure.
I put my $5-$10M in such a safe place, I can't even find it.
Just buy brokered CD's. I have Vanguard and I buy multiple brokered CD's which are FDIC insured. The cool thing is you can buy multiple of these and they stay within the Vanguard platform. Hence you avoid dealing with each bank individually.
Regional Banks are the ones that fail though?
Why am I watching this? As if this is a problem I’m going to need to solve at some point in the future.
Honestly, I did learn a bit from this. I've been considering calling in. I'm trying to save up 100k in about 4 years, and I've just been putting everything in a high yield savings account, but I was considering putting it into the market to get there faster. He just said that's a bad idea, which I kinda knew, but I wish he'd expand more on that.
Well, just in case....
Ha ha, I said the same thing.
Putting cash of a business that you likely need in a mutual fund is just plain dumb. Just buy treasuries instead, short term, bills or 2 year bonds.
The best place to keep this amount of money is directly in the U.S. Treasury. It’s the bank that insures all other U.S. banks!
I store mine in my imagination. Hasn't had any issues yet
😂😂
This is more like a question to IRS. I worked in construction in other countries, they love cash. Otherwise you buy government bonds. If you need cash you sell them, they are very liquid and they are "risk free" in financial world.
"If you need cash you sell them..." OK but keep in mind it's possible that you'd have to sell those bonds at a lower price than what you bought them for. But yes, you can always keep the bond until it matures to get the guaranteed yield. That's what makes them "risk free." But they are definitely NOT as liquid as pure cash.
What’s your honest thoughts on FDI FDIC? My understanding is they’re broke behind the scenes. I’m reading a lot of articles on our bankingSystem is ready to collapse. How about Bank bail ins?
Nothing is safer than Treasury Bonds. If you've got millions it's better to have less risk even if it's less reward because the amount makes it profitable still. At the current rate a 10 year bond for $10M would be $373,000/year. That's the safest investment.
Short term bills
If you’re in the construction contracting business, don’t forget to ask your surety bond provider if these methods are acceptable.
No one ever had it better. It wasn't harder before. You are not more virtuous. You didn't have a higher standard. People today are the same as they have always been. The fallacy of the innocent past causes one to see themselves in the best possible light ignoring the fact that they we're harboring the darkest evil in the depths of their heart. You can never know what evil lurks inside someone. The greatest corruption exists at the highest level of wealth and responsibility. The most honest and trustworthy people are at the bottom of society.
Thanks devil
@@g.t.richardson6311no, he’s right for the most part. The only way we hear about the super rich is on tv and usually when they’ve done something horrible, otherwise you’d never know they existed. Think Jeffrey Epstein or government officials. I can’t think of a billionaire that isn’t corrupt in some way, how’d they earn all that money? I’m sure there are some, I won’t condemn them all, I don’t think Buffet is a bad person but I don’t know him. The best, honest, nicest people I know of are just doing ok. Some are dirt poor, some are doing really good , none are “super rich.”
FALSE! “The line separating good and evil passes not through states, nor between classes, nor between political parties either-but right through every human heart-and through all human hearts” Solzhenitsyn
FDIC has $250k limit, but can enhance that with different types of ownership and accounts. Same with SIPC.
Very smart move...
The $250k FDIC insurance is per depositor including beneficiaries. For example, a husband and wife with two kids as beneficiaries on a money market account can get $1.0 million of FDIC insurance on an account.
No
There is a product that banks offer FDIC via third party that covers over the limits. Your private bankers or treasury departments are the poc.
Keep the working capital in bank but excess cash should be invested. One of the businesses I help out always invested excess money in diversified funds over the decades and years later their main asset base is that pile of money that is bigger than their main business. Of course it needs some strategic thinking and planning to achieve this.
Brokerage account invested mostly in short term treasuries.
Some of you brakrages offer up $1 niillin in FDIC insured spread accounts. This means you have one account, they handle the spread, and some are earing up to 5% interest right now. Also there are some good mid tier Credit Unions that offer slight more insurance and on avg pay slightly higher interests as well.
I have a brokerage account linked to my bank accounts. That allows me to keep most of it in short term T Bill ETF's (symbol BIL or SHV) which have very minimal risk and both yield > 5% right now exempt from state taxation. A smaller portion (less than $250K FDIC limit) is in high yield savings at 4.25% and can be transferred to checking instantly 24/365.
If you’re just keeping it the safest place is in gold and silver. If you were putting in a time capsule and recovering it in 20 years would you want to bury dollars or gold?
This is an issue. Especially when you have a lot of money and want to make a percent or so. The big issues there are fewer and fewer banks so you cannot spread the risk.
I highly down Dave sits down with a Smartvestor Pro lol.
1/2 in Short Term Treasury Bills, 1/2 in S&P 500
Offshore asset protection trust and Swiss banking
Cedars will insure it.
How tf not a word on Bitcoin. Horse n buggy vs lambo
No one cares about scam crypto
Not only zero FDIC insurance, zero protection of any kind and literally nobody can offer the slightest assurance as to what a Bitcoin is actually worth (if anything).
@@avengemybreath3084 in the government you trust then! Congrats to maintaining the status quo and theft of your money, labor and energy.
I know it's different for business accounts, but fidelity gives you almost 5%, and credit unions will give you 5% great for your personal savings in the tens of thousands, not sure about a million in a brokerage account cash with 5%...
My credit union has a high interest savings account that pays 5.25% but only up to $100,000
There's cash sweep accounts that are insured for 150 million.
Raymond james has a prouct that is paying about 5% and is fdic covered to 50 million
Banks have the ability to pledge Treasuries to secure your deposits above FDIC.
tsla and pltr
Vanguard
Buy US treasuries at brokerage. Unlimited protection just ask Warren Buffet he holds 150 billion in cash.
Or directly from the FED
Fidelity has money markets that you can make 5% and roll it over every 30 days
Which one is that ? Can you give me the ticker letters?
5:17 Why? Bank Sweeps. Done…
I saw a video on somebody saying there 500mill is in a sweep account so it's protected, what does that mean
In New Zealand, all our banks are guaranteed by the government for your deposits
Just remember most places don't insure for 5m bucks. Try 1m max. So if they lose it-you're screwed.
Invesco Money market fund
Open a Raisin account and spread it over several banks.
They’re at the point where they should have a major bank run their cash for them in some kind of short duration ladder and anything beyond that should go in some kind of balanced fund. The idea they should invest cash on a 2yr horizon into an actively managed mutual fund is insanely bad advice.
Cash, with inflation, is a melting ice cube. Use Bitcoin to protect at least some of your cash reserves.
Four words: Single Premium Whole Life. After all, you will be giving it all away eventually, some day, somewhere over the 🌈 rainbow !
tbills
US Treasury
IBKR offers accounts that automatically spread out across several banks for 2.5M of FDIC insurance
Safest place to keep 10 million dollars is to keep them in money. And the best money is gold, the second best silver.
The FDIC won’t save your money! LoL GOLD & SILVER
Bitcoin
Overnight repos
You can put it all in a JP Morgan account, nothing is going to happen to them
The mutual fund salesman😂
Stuff it in your mattress
Since when did Ramsey start giving advice to the .05% ... Not a good Video.... Lose IT!
In my mattress??
What if you pee the bed?
@@daveycrocker4466 what are you…12?
BITCOIN!! 100%
Despite all the financial struggles I and my family faced, everything is finally falling into place! $47,000 weekly profit and riches I'll always praise the Lord
Hello 👋 How are you earning such weekly? I was born a Christian, and sometimes I feel down on myself because of low finances, but I still believe in God.
Thanks to Mrs. Elizabeth Regina Nelsen's time in my life, which had a profound impact on me.
No doubt Elizabeth Regina. Nelsen Trading services are undoubtedly excellent.
It's great to see Elizabeth R. Nelsen getting recognized here. Starting with just $2000 and now being highly recommended due to the good returns is truly motivating!
I'm really interested, does she work with clients outside the USA, I'm from France?
Put your cash in Bitcoin!,
Such terrible advice to not be concerned about FDIC limits. And no mention of US Treasury Bills, which are backed by federal government with no limit, and have current yields of over 5%.
US Treasury Bills are called debt. Not a great idea when the economy is this bad. Things can go south real fast. Also, there is not enough cash for FDIC to be covered to make all solvent. There are some real problems coming and this lady who called in is probably going to lose a lot in the upcoming crash. Not to mention she is losing just due to inflation. Those who hold physical gold and silver will do well. But Ramsey won't preach that.
@@Spirit-FilledMindset US Treasury investments are quite literally the safest investment vehicle in the world. No intelligent person would use business reserves to purchase physical previous metals.
Just put the whole thing in Bitcoin 🤷🏻♂️ you ain’t smarter than Michael Saylor
The answer is to buy Bitcoin
CDars. See if your local bank offers I.