How do rich people keep their money safe

how do rich people keep their money safe

by not having it

very carefully

Own property.

By diversifying their assets. Typically, a smart person would have a good portion of their wealth in a portfolio of stocks, which might be managed by some sort of investment firm. Typically speaking, stocks tend to have the greatest rate of return over the long run if a buy and hold strategy is practiced. Other investment strategies include bonds (which are typically considered stable, although they have a low rate of return), property (really depends on the housing market, but has a potential to net a decent amount of profit), and sometimes commodity futures (or for the paranoid, actual precious metals). It is not typical to keep a ton of cash in the bank.

>stocks
>bonds
>precious stones and metals
>real estate
>small business
>liquid assets

Do you mean safe from thieves or safe from recessions?

>Thieves
2 step authentication and splitting up your money over multiple accounts. I'm not rich but I have ~$370k in savings and I have it split amount 2 separate savings accounts because the government only insures your savings up to $250k. I also pull a credit report 2x a year to look for new bank accounts or credits cards taken out in my name. Idk if i'm doing a good job

>Recessions
I have the slightest clue, I'm too afraid to buy stocks or anything so my money just sits in my savings account.

>370K
How so much user?

This. They make money make them more money renting and have assets they can sell later in case something bad happens.

By putting their money to work for them. Invest in things to get a return. The amount of return you can get depends on how much risk you want to front in achieving said return. Risk and reward have a close relationship.

I think you should also take a step back and realize how many phony rich people there are. I've lived in south orange county CA, and I met tons of phonies, and some legit ultra wealthy people. The phonies often flash their wealth and are assholes to those they see beneath them. They lease and rent everything - cars, houses, condos, boats, etc. They most likely have a good chunk of credit card debt going too. They make mid-$100k's and think they're fabulously wealthy. They have little to no assets, and when the market takes a shit, they have no buffer. They have to give up their extravagant lifestyles.

The richest man I've met was a top exec at an aerospace company. Ex-g/f's friend was his grandson, and we went to his house for a grad party. His house was on top of the hill in Laguna Hills; 4 stories tall on the hillside, had a wine cellar, chapel, observatory, half dome fresco with chandelier and double rot iron and marble stair cases in foyer, 3 kitchens, staffed, and much more. The man drove an old Mercedes E class and wore a simple suit. He was incredibly humble and warm. No gaudy jewelry, fake tans, or top brand name clothes.

Another ex's dad was the CIO of Dollar Tree. He lived in a nice home and drove around in a VW Golf. He wore simple clothes. Kind and gentle. He's retired now and just bought himself an old 1973 911 Porsche, and it's his dream car.

>precious metals

No, only stupid people are hoarding shiny rocks. Notice it's 100% marketed at the lowest common denominator. They're not giving you a great opportunity out of the goodness of their hearts, they're taking you for a ride

Google index funds. It's the stock market for faggots like us who don't want to learn about or worry about stocks.

Managed funds are a scam
Index funds have few fees, and fund managers rarely manage to beat the market after fees anyways

...

Nice blog post

>The phonies often flash their wealth and are assholes to those they see beneath them. They lease and rent everything - cars, houses, condos, boats, etc. They most likely have a good chunk of credit card debt going too. They make mid-$100k's and think they're fabulously wealthy. They have little to no assets, and when the market takes a shit, they have no buffer. They have to give up their extravagant lifestyles.

Had a work colleague like this. Fucking hilarious. I was above him and knew how much everyone earned. Earning less than me (single, living in a modest apartment with a jap shitbox car), had a big house in an expensive suburb (and an hour commute each way!) with wife & kids and a BMW parked out the front.

Kinda guy that had to show off his new iPhone and apple watch to everyone that would give him the time of day.

He got laid off for being a complete stooge. I wonder how that went.

Drugs

>Metal
>Rocks

He said metals not gems. Metals are a good investment as they come from supernovae. Gems on the other hand can be made in labs.

The metal on Earth, gold, silver, etc is all we have. It's used for almost everything.

>Nothing flashy
>Owns a four story House
...........................

Rich people don't need to 'protect' their money. You get someone like Warren buffett and they just make it. If you took every cent from a person like that within five years he'd be filthy rich again.

are you 17 years old?

I keep it in my mattress like a normal person.

>370k
>I'm too afraid to buy stocks
The fuck?
How the hell did you even get so far when you are so shit with money?
You could get much more than minimum wage from your dividends alone.
Assuming you are not terribly old, that is the amount of money where it just starts multiplying by itself, to make sure you can retire comfortably.

His home is private. Only people who know him personally would know it's his home.

What user says is that the man's public image is unassuming. Old money, and smart nuveau riche that'll become old money with due time, tend to do that a lot. Look at most of the wealthiest men in the world, that aren't royalty. The suits they wear are amazingly good quality, but plain. Hell, most of the time they wear smart casual as in slacks, a shirt and a sweater. His daily-driver is nice, but not extravagant. They have jewelry that's again extremely fine quality, but understated. They try to not look like massive faggots, and display a sense of humility. Sure, once you get to know him and he invites you to his house it's going to be a large luxury estate, but you wouldn't have thought he lived in such a house in the first place.

Now take some fag that makes 150k, which is a very good salary, but he thinks he's King Shit. When he goes grocery shopping, he does it in Armani and in his brand new sports car. He has an awfully gaudy watch, guaranteed. He's got that gold-colored iPhone that everyone owns, but you know, gold looks expensive. He probably wears sunglasses everywhere. His house is an apartment near the top of the building, in the middle of the city, with ultra-modern Ikea furniture. Everything about them looks like they're trying way too fucking hard to fit in with the big boys, and let everyone know they're part of the group. They're also usually massive assholes.

Your money is loosing value just sitting in that account. You must have inherited it or something, I can't believe someone is smart enough to make 400k and doesn't know what inflation is. Most cringe worthy post Ive read all week.

They lobby for less regulations.

And less taxes.