Suppose you win 100 million. What do you actually do with it? Banks only guarantee 250,000. Do you have to invest it? Is there anywhere you can just let it sit and draw interest?
Suppose you win 100 million. What do you actually do with it? Banks only guarantee 250,000. Do you have to invest it? Is there anywhere you can just let it sit and draw interest?
That’s a really great idea! More places should do that. Maybe then there’d be a lot fewer people losing all their money within years.
In addition to major prize winners, it should also apply to people who have just started earning a massive income. Eg, professional athletes.
FWIW, the NFL does actually have financial literacy classes for players. It’s definitely a start