Where do millionaires/billionaires put their money? - Blu-ray Forum

linkgx1 · 03-08-2011, 02:20 AM

I've been wondering this since I was litte. I mean, money is only insured up to a certain point. I'd be scared to have $50 million in one account. Where do these millionaires put most of their monies?

I've been wondering just incase I get rich. Maybe I can hide some here on this forum?

DVDFreaker · 03-08-2011, 02:23 AM

Quote:

Originally Posted by linkgx1

I've been wondering this since I was litte. I mean, money is only insured up to a certain point. I'd be scared to have $50 million in one account. Where do these millionaires put most of their monies?

I've been wondering just incase I get rich. Maybe I can hide some here on this forum?

In the bank

JJ · 03-08-2011, 02:30 AM

Swiss accounts? Off-shore Cayman Islands accounts? Trust funds?

linkgx1 · 03-08-2011, 02:31 AM

Quote:

Originally Posted by DVDFreaker

In the bank

My bank?

DVDFreaker · 03-08-2011, 02:37 AM

Quote:

Originally Posted by linkgx1

My bank?

Haha, you wish!

Marcus Wright · 03-08-2011, 02:37 AM

Quote:

Originally Posted by linkgx1

I've been wondering this since I was litte. I mean, money is only insured up to a certain point. I'd be scared to have $50 million in one account. Where do these millionaires put most of their monies?

I've been wondering just incase I get rich. Maybe I can hide some here on this forum?

If they invest it, they diversify their portfolio, investing in differrent stocks all around the economy.
This way they can decrease their risk to near zero.

They can also buy Goverment bonds, in that case not only will they earn interest, but their money will be 99.999%% safe.

For banks, they can do the same thing. Invest in differrent banks.

linkgx1 · 03-08-2011, 02:40 AM

Quote:

Originally Posted by Marcus Wright

If they invest it, they diversify their portfolio, investing in differrent stocks all around the economy.
This way they can decrease their risk to near zero.

They can also buy Goverment bonds, in that case not only will they earn interest, but their money will be 99.999%% safe.

For banks, they can do the same thing. Invest in differrent banks.

So much stuff to keep up with. I guess I'll have to hire someone to do it, but they'll get me and I'll never see 'em coming!

linkgx1 · 03-08-2011, 02:41 AM

Quote:

Originally Posted by DVDFreaker

Haha, you wish!

I need to call on the spirits to do it!

Beta Man · 03-08-2011, 02:43 AM

Billionaires are a unique entity in and of themselves, but as far as "multi" millionaires go, I happen to be related to a couple of them, and although I don't know how much they are each worth, I can tell you that my sister is probably worth 10M on paper, but probably only has 2M or so which is "Liquid"

Property etc. counts towards your net-worth, so finding a way to insure that amount isn't as difficult as finding ways to spread out the entire 10M.

Most own assets

Marcus Wright · 03-08-2011, 02:45 AM

Quote:

Originally Posted by linkgx1

So much stuff to keep up with. I guess I'll have to hire someone to do it, but they'll get me and I'll never see 'em coming!

Just make sure you never get under the hands of doctors.

Bankers can take your money, but doctors can also take your health in addition to money.

(remember Michael Jackson).

P.S. Are you a billionare?

linkgx1 · 03-08-2011, 02:47 AM

Quote:

Originally Posted by Beta Man

Billionaires are a unique entity in and of themselves, but as far as "multi" millionaires go, I happen to be related to a couple of them, and although I don't know how much they are each worth, I can tell you that my sister is probably worth 10M on paper, but probably only has 2M or so which is "Liquid"

Property etc. counts towards your net-worth, so finding a way to insure that amount isn't as difficult as finding ways to spread out the entire 10M.

Most own assets

That's what I was thinking. I knew I should have bought out those Pioneer Kuro panels...

Must be cool being related to rich people!

I still can't comprehend how Micheal Jackson would spend $50million in a day. My mind can't wrap itself around that much money!

linkgx1 · 03-08-2011, 02:49 AM

Quote:

Originally Posted by Marcus Wright

Just make sure you never get under the hands of doctors.

Bankers can take your money, but doctors can also take your health in addition to money.

(remember Michael Jackson).

P.S. Are you a billionare?

True. If I ever have money, I hope I don't become power-hungry and arrogant. I can't even think of what to spend it on. I can live in a shack, with a nice Home Theater and a Nissan GTR and I'd be fine.

Marcus Wright · 03-08-2011, 02:55 AM

Quote:

Originally Posted by linkgx1

True. If I ever have money, I hope I don't become power-hungry and arrogant. I can't even think of what to spend it on. I can live in a shack, with a nice Home Theater and a Nissan GTR and I'd be fine.

Wat happens when you become a millionare is the following.

People who need funds, (companies) as well as anyone else who can milk money from you bother you so much until you give them most of your funds as "investments".

Next, they arrange documents so that you become ultimately liable for everything, and one day poof and you are bankrupt.

linkgx1 · 03-08-2011, 02:58 AM

Quote:

Originally Posted by Marcus Wright

Wat happens when you become a millionare is the following.

People who need funds, (companies) as well as anyone else who can milk money from you bother you so much until you give them most of your funds as "investments".

Next, they arrange documents so that you become ultimately liable for everything, and one day poof and you are bankrupt.

I know several people that would suddenly "know me". My facebook friend request will be full, I suddenly owe peole. "Remember when I let you borrow Pokemon Red?". The terror!

bageleaterkkjji · 03-08-2011, 06:03 AM

In bottom drawer of the fridge... nobody ever looks there

U4K61 · 03-09-2011, 09:51 PM

Quote:

Originally Posted by linkgx1

I've been wondering this since I was litte. I mean, money is only insured up to a certain point. I'd be scared to have $50 million in one account. Where do these millionaires put most of their monies?

I've been wondering just incase I get rich. Maybe I can hide some here on this forum?

It seems to be a question of why they are millionaires. I gather most are self-made. They earn interest rather then pay it. They plan for the future over going into debt living for the moment.

linkgx1 · 03-09-2011, 10:19 PM

Quote:

Originally Posted by Craig Ruchman

It seems to be a question of why they are millionaires. I gather most are self-made. They earn interest rather then pay it. They plan for the future over over going into debt living for the moment.

I need to stop buying electronics and invest in my own business then.

kingofgrills · 03-10-2011, 12:02 AM

It depends on the person, his or her risk tolerance level, and the total assets held. The typical assumption is to structure the money in various income earning assets, so the person may live off a portion of the interest earnings. If this is achieved, the person will never need to dip into the principal amount, leaving the income to last theoretically, forever.

Typical porfolios depend on the investment risk tolerance levels of the person. People who take risks and can stand to see some fluctuation in their portfolio will invest in things like individual stocks, REITS (real estate investment trusts), oil, gold, or stock based mutual funds - both domestic and international.

People who are extremely risk adverse don't like seeing their principal fluctuate with the market will invest in things like government bonds and treasury notes, investment grade bonds, savings and CDs.

A friend of mine wanted absolutely zero risk in his portfolio, so he uses 100% guaranteed assets to generate his income. He amassed a great deal by creating and selling a couple of companies, so he wants zero chance of losing what he worked hard to build up.

I have a higher degree of faith in the markets, so I do allow some risk in my portfolio by using mutual funds and some individual stocks.

linkgx1 · 03-10-2011, 01:01 AM

Quote:

Originally Posted by kingofgrills

It depends on the person, his or her risk tolerance level, and the total assets held. The typical assumption is to structure the money in various income earning assets, so the person may live off a portion of the interest earnings. If this is achieved, the person will never need to dip into the principal amount, leaving the income to last theoretically, forever.

Typical porfolios depend on the investment risk tolerance levels of the person. People who take risks and can stand to see some fluctuation in their portfolio will invest in things like individual stocks, REITS (real estate investment trusts), oil, gold, or stock based mutual funds - both domestic and international.

People who are extremely risk adverse don't like seeing their principal fluctuate with the market will invest in things like government bonds and treasury notes, investment grade bonds, savings and CDs.

A friend of mine wanted absolutely zero risk in his portfolio, so he uses 100% guaranteed assets to generate his income. He amassed a great deal by creating and selling a couple of companies, so he wants zero chance of losing what he worked hard to build up.

I have a higher degree of faith in the markets, so I do allow some risk in my portfolio by using mutual funds and some individual stocks.

Can you be too young to start a portfolio?

Silo5 · 03-10-2011, 01:13 AM

Quote:

Originally Posted by linkgx1

Can you be too young to start a portfolio?

You're never too young to plan for your financial future. Plus, the way the economy is going now, you may need all the time you have to build something up

03-08-2011, 02:20 AM	#1
linkgx1 Banned Member since:Feb 2011 Location:Saint Louis, MO	Where do millionaires/billionaires put their money? I've been wondering this since I was litte. I mean, money is only insured up to a certain point. I'd be scared to have $50 million in one account. Where do these millionaires put most of their monies? I've been wondering just incase I get rich. Maybe I can hide some here on this forum?

03-08-2011, 02:30 AM	#3
JJ Blu-ray Count Top ranked HT gallery Member since:Jul 2007 Location:Miami, FL Home Theater Gallery:99 4K collection:619 Blu-ray collection:1293 DVD collection:31 Digital collection:5 Blu-ray reviews: 18 Trading Score:203	Swiss accounts? Off-shore Cayman Islands accounts? Trust funds?

03-08-2011, 02:43 AM	#9
Beta Man Moderator Top contributor Member since:Jan 2008 Location:Juuuuuuuust A Bit Outside.... Home Theater Gallery:4 Blu-ray collection:268 Blu-ray reviews: 18 Trading Score:25	Billionaires are a unique entity in and of themselves, but as far as "multi" millionaires go, I happen to be related to a couple of them, and although I don't know how much they are each worth, I can tell you that my sister is probably worth 10M on paper, but probably only has 2M or so which is "Liquid" Property etc. counts towards your net-worth, so finding a way to insure that amount isn't as difficult as finding ways to spread out the entire 10M. Most own assets

03-08-2011, 06:03 AM	#15
bageleaterkkjji Blu-ray Ninja Top contributor Member since:Sep 2007 Location:in the garbage 4K collection:59 Blu-ray collection:322 Blu-ray reviews:3 Trading Score:4	In bottom drawer of the fridge... nobody ever looks there

03-10-2011, 12:02 AM	#18
kingofgrills Blu-ray Guru Top ranked HT gallery Member since:Dec 2007 Location:PDX Home Theater Gallery:31 4K collection:5 Blu-ray collection:81 Trading Score:31	It depends on the person, his or her risk tolerance level, and the total assets held. The typical assumption is to structure the money in various income earning assets, so the person may live off a portion of the interest earnings. If this is achieved, the person will never need to dip into the principal amount, leaving the income to last theoretically, forever. Typical porfolios depend on the investment risk tolerance levels of the person. People who take risks and can stand to see some fluctuation in their portfolio will invest in things like individual stocks, REITS (real estate investment trusts), oil, gold, or stock based mutual funds - both domestic and international. People who are extremely risk adverse don't like seeing their principal fluctuate with the market will invest in things like government bonds and treasury notes, investment grade bonds, savings and CDs. A friend of mine wanted absolutely zero risk in his portfolio, so he uses 100% guaranteed assets to generate his income. He amassed a great deal by creating and selling a couple of companies, so he wants zero chance of losing what he worked hard to build up. I have a higher degree of faith in the markets, so I do allow some risk in my portfolio by using mutual funds and some individual stocks.

Best Blu-ray Movie Deals