Given $10,000,000. What is the most financially savvy thing to do?

Question

If you had $10,000,000. What is the most financially savvy thing to do to make your money grow? Invest? Bonds? Please be detailed.

Answer 1

Savvy is not the right word. It really depends on how big of a risk taker you are. The more risky the proposition, the higher the potential payoff, but also the greater the danger that you will suffer a loss, not a profit.

I am very financially conservative. If I had $10million, I would spread it across many interest-bearing accounts across many banks so that no account had much more than $100k in it at any point in time. FDIC would repay up to $100k if lost through bank fraud, closure, or other disaster.

At an even miserable 3% interest rate, $10million would generate $300k/year. I could live very comfortably on 1/3 of that, and put the other $200k back into more accounts yielding more interest, etc. to infinity.

Savvy enough?

Answer 2

I would buy land in the high end real estate markets such as the Hamptons. Probably about 5 million worth in cash. Buy 1 million in short term notes and bonds. 1 million in stocks. 1 million in rental property. 1 million to purchase small cash businesses such as laundromat, dunkin dounuts, 7-11, McDonald's etc, 1 million buy a nice house and few cars.

Answer 3

Instead of putting money into companies that you are not in control of why not start your own company. That way your sure and responsible for the income you wish to recieve. Bonds aren't worth much when a company goes down.

Answer 4

To tithe 10%.