6% interest on millions of dollars...

Reply #8

Coin Toss — Sun, 11 Feb 2007 04:53:57 GMT

pumpi76

There exists something called old money - that is the bluebloods , people born into it, they come from families that started businesses that became very large and successful. These are the Rockefellers, Getty, Rothschild, etc...

They look at people who suddenyl come into money as the nouveau rich , the new rich. They know these people did not come from money and in many cases their fortune will be fleeting (gond fast).

The old money has the kind of investment advice tha... [ More ]

Reply #7

guesser — Sun, 11 Feb 2007 04:36:41 GMT

JX - bingo! - BUT - The Swiss idea isn't so safe anymore, not after 9/11.

FL - you got that right.

Pumpi - enlighten you to what ? Go look at interest rates for yourself. I'm almost like you in that I want a decent return, but I want a safe return for about half of my money, which means no stock market: half will be safe, and half I will dicker with, which does include the stock market, mutual funds, buying toys, building living trusts, charities, buying Todd a Server farm, etc.....

As... [ More ]

Reply #6

FatLane — Sun, 11 Feb 2007 03:54:59 GMT

And if folks cannot figure out in their head what 6% of 1, 10, 20, 100, 200, a billion dollars is, they should not even be allowed to HAVE money, let alone a checking account or credit card.

If people were that smart with numbers, the lotteries would be out of business.

Reply #5

justxploring — Sun, 11 Feb 2007 01:32:34 GMT

Pumpi, the best advice anyone can give someone who wins money is to contact an attorney or financial advisor you trust. I'm not talking about picking up the phone and calling a place listed in the Yellow Pages. I mean to find out who counsels the rich. Once you have money, everyone wants to help you, so it might not be as difficult as it sounds.

Most people don't want to pay taxes on interest if they don't have to, so they look for tax deferred investments. Let's say you buy government bo... [ More ]

Reply #4

pumpi76 — Sat, 10 Feb 2007 23:17:41 GMT

Coin Toss: I see..

Guesser, i don't know, i don't know almost nothing about banks and interest rates and stuff of that sort..

I posted those rates because that's what i thought a person would be getting ever year..LIke I thought someone with 1 milliion dollars will be getting 6% every year....Enlighten me guesser if you are not busy..I would greatly appreciate it...

Reply #3

JAP69 — Sat, 10 Feb 2007 23:08:07 GMT

People with that kind of money find secure places with a higher return.

If you bank it you have a negotiating advantage.

Reply #2

Coin Toss — Sat, 10 Feb 2007 22:39:55 GMT

pumpi76

People with $1,000,000 and more don't settle for 6% interest.

Reply #1

guesser — Sat, 10 Feb 2007 22:06:05 GMT

Interest rate on what ?

Simple Savings ?

3 year CD ?

10 year CD ?

The max I have found IS 6%, but I didn't look real hard (bankrate.com)

And if folks cannot figure out in their head what 6% of 1, 10, 20, 100, 200, a billion dollars is, they should not even be allowed to HAVE money, let alone a checking account or credit card.

6% interest on millions of dollars...

pumpi76 — Sat, 10 Feb 2007 21:42:31 GMT

Guys I thought you should know this..I don't know much about interest but i've been told that some banks give you 6% interest...I've been told that no bank will give you more than 6%..I don't know but if any of you know more you are welcome to mention it and then we can calculate the percentage..I calculate this percentage by using a percentage calculator..YOu can find them on yahoo, google, etc..

6% of 1 million dollars = 60,000 (sixty thousand dollars)

6% of 10 million dollars = 600... [ More ]