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/biz/ - Business & Finance

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24136505 No.24136505 [Reply] [Original]

Hello, I recently sold my business and after taxes I have around 700k doing nothing but sitting in a standard BofA account. What can I do starting on Monday to make my money work for me? I'm not a smart guy, just a hardworker.

>> No.24136556

>>24136505
take a picture of your hand with a timestamp

>> No.24136608

>>24136505
thatll buy you a lot of kneepads

>> No.24136632

Convert it all into USDC and put into Celsius and earn 10.5% compounding interest in it. Enjoy your new job making 73k/yr doing nothing.

>> No.24136635

>>24136505
You should have at most 250K in the bank. If you have more than 250K and your bank fails, you will lose 450K.

What you should do is move 250K into another bank, like JP Morgan, and the rest should go to treasurydirect.gov since US treasury bonds are risk-free assets.

That way you're not gambling really, but don't expect much interest from the government.

>> No.24136657

If you want to move up the risk curve, at your wealth level, you should really be investing in corporate bonds. You can do this through a brokerage account, either TD Ameritrade or Interactive Brokers.

>> No.24136662

>>24136635
Fuck off Jew

>> No.24136680

>>24136662
>imagine getting financial advice on /biz/, especially from this guy.

>> No.24136695

>>24136632
No one wants your PND tranny coin.

>> No.24136718

"Yield-farming" tokens are ponzi schemes where the yield given to the initial investors come from the token purchases from the subsequent investors. The 10% yield comes from some sucker who bought a coin after you did.

Don't fall for it.

>> No.24136721

>>24136635
>your bank fails, you will lose 450K
Source? links? Story?T&C? Anything?

>> No.24136747

Start a bigger business.
Proud of you.

>> No.24136752

>>24136505
Sell puts on high IV options, go for contracts you can sell just out of the money, go for monthly strikes
If you get assigned, sell calls the same way

>> No.24136768

250k
25% BTC
25% ETH
25% LINK
25% XRP
Live like a king with the remaining 450k while you watch 250k grow to >2million.

>> No.24136775

>>24136505
invest it all into shitcoins

>> No.24136792

>>24136718
Does your cottonpicking niggerfaggot ass know who Alex Mashinsky is? This Jew won’t let Celsius fail.

>> No.24136795

>>24136632
if he wanted to make 73k/yr doing nothing he could just pick up a government job.

>> No.24136794

>>24136721
FDIC insurance only covers $250k.

>> No.24136798

>>24136721
Google Bail-Ins

>> No.24136815

>>24136721
what do you mean source? they are federally insured for amounts up to $250k. you can just look it up.

>> No.24136843

SPY or VOO is a pretty nice mix of low-risk and decent returns.

>> No.24136859

>>24136505
All in Link, this is very serious and you will deeply regret not acting on this in the future if you decide to ignore this

>> No.24136904

Buy out vintage reserved list magic cards then sell dump them on a consignor

>> No.24136932

>>24136843
I would not advise this. Buying the SPY and VOO right now equates to financial suicide. Once the "economy opens up", everyone is going to sell.

>> No.24137014

>>24136815
The money FDIC has to "spend into existence" ultimately comes from the government needing to borrow money from the treasury auction to pay everyone for their deposits.

It's a government backed loan, but really they're just backed by US treasuries, so just buy the underlying asset.

>> No.24137027

>>24136859
unorinically this
I'd go 70/30 link/xrp
all in

leave 10k for spending cash or whatever a normie would do if you're a pussi

>> No.24137031

>>24136505
share i tbed

>> No.24137075

>>24136505
rich chad here, put 500k into btc/eth, don’t look at it or stress, sell before the next halving and you’ll be a multi millionaire. Simple as that, the rest of your savings will be more then enough buffer for those 3.5 years

>> No.24137093
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24137093

get yourself a sweet stack of Xbtc fren

>> No.24137197

>>24136752
Very bad advice. Options with high IV means there's a high chance the stock would tank. OP is better off just buy LEAP calls on indexes. He'll make much more money without risking that much capital. When you buy an option, you just lose the money paid for the option if the trade goes wrong, but selling an option would put you on the hook for a potentially greater loss.

>> No.24137473

>>24137197
Buying an option is like buying a lottery ticket
Selling an option is like selling a lottery ticket

If you sell a lottery ticket, and in the rare scenario that person wins $100 million, guess who's paying: you are.

>> No.24137483

>>24136505
>I'm not a smart guy, just a hardworker.
Real Estate and dividend stocks.

>> No.24138283

>>24137197
You have no idea what you're talking about do you?