User deleted post
High yield savings is 5.5Apy today you do not need to jack w treasuries. Make sure you watch FDIC limits add parents or whomever to the account to buy you decision time.
Very good point - each beneficiary or owner adds another 250k up to like what 1.5 mil max FDIC insurance? Seems like rates will hold for a year so I do understand HYSA being better option - it’s just to me treasuries right now are like mortgages in 2020 - we won’t see rates like these once they start lowering for another decade probably at least - so getting that 5%+ locked in for 30 years with the ability to get appreciation on coupon value is just why I think it’s a great option and you don’t have to do bonds you could also do bills or notes which are shorter periods.
I think there’s a little wrinkle where it’s capped at 1250000 regardless. This a have a few different accounts. She’s 24 and undecided. I’m a keep it simple, until she decides what she wants to do. Being able to get whatever I want in 24 hours is important. Should the right deal present itself. My only point @ 24 my guess is she doesn’t need to get that sophisticated.
My .02
I agree. ☝️
Could you share what’s your business about, please?
OF
- A reward 2. 6 months wages in a HYSA 3. Roth IRA, 401k
MAX ROTH IRA EVERY YEAR and average into VOO 10k a month
She makes way too much to be eligible for one
Backdoor roths exist as well.
If you’re self-employed, be careful to save and pay for quarterly taxes. If you already did, I would just put it into a high savings account until you have an idea of what to do with the money.
Was this a result of your manifesting? Check out Word is Your Wand By Florence Schovel Shinn & congratulations!!
You could become an angel investor while also making sure your personal finances are good
first thing you should do is don’t tell anybody or become a walking bank
Best bet is an IUL or trust fund
in my butt
Half in sgov and half in QQQ.
If you have 700K liquid, you may want divide it into three parts and deposit it in three different banks while you determine what to do next. I would, and have, interview financial advisors. A financial advisor can help establish your risk tolerance and review your other income streams. Many people here won't have a clue what to do with 700K. I recommend you not consider a HYSA, because although some will say it's safe, it isn't. HYSA are FDIC insured up to 250K per depositor per bank. That's why you should break up the current account. It too uses the FDIC and the same rules apply. A HYSA has its place, but they're for a different customer base. Aside from being unsafe for large sums and not keeping pace with inflation, many limit withdrawals.
CD
Up my ass
You know how to scale a business to have 700K cash at 24 but don’t know this? These posts have to be larp.
Ignore any dms you will be getting and speak to an financial advisor
Wow, according to your post history you started “manifesting” money a few months ago and here you are, almost a millionaire.
$ffie
What is your business about?
$GME
Ugh most would have a financial planner w a business.
GWAV or CTMX stocks
UYBAATC
1 missing reply
Jesus Christ congratulations especially if that isn’t a typo and you’re 24 and not 42! What field is your business in and how long did it take to amass that cause if that’s year to date that’s insane.
Anyways, HYSA or treasury bonds cause you can lock in 5%+ interest for 30,15, etc. years and then sell them for more than you bought them for when interest rates eventually lower - HYSA is a floating rate so can change at any time. Anyways congrats!
I forgot to include treasury bond payments aren’t taxed at the federal level