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?
Considering that quality of life won’t improve much beyond a net worth of 5-10 million dollars (heavily depends on the cost of living in your area, as well as stuff like cost of healthcare), there is no point keeping that much money.
If I got 100 million dollars, I would donate 95 million do various causes, pay whatever tax I owe for the other 5 million, and retire with the 2.something millions I have left.
As for where to keep it… First I would pay off my mortgage, and then I would invest in index funds and bonds.