Dan1
New Contributor
User Power
Value/Post Ratio
92%
- Jun 14, 2015
- 13
- 12
- 32
So I am a total noob to having large amounts of money.
I have 500k that I made from affiliate marketing(already paid taxes).
What should I do with it to just leave it in the bank and know that it is safe?
Right now I have around 300k sitting in Bank Of America (checking and savings account) and 200k in a local credit union(checking and savings account) in the middle of nowhere where I live.
I should obviously split it up so there is no more than 250k in an account because of the FDIC insurance policy- but is there any security benefit to using a certain type of bank/credit union/whatever over another one?
Any advice from those who know would be appreciated.
I have 500k that I made from affiliate marketing(already paid taxes).
What should I do with it to just leave it in the bank and know that it is safe?
Right now I have around 300k sitting in Bank Of America (checking and savings account) and 200k in a local credit union(checking and savings account) in the middle of nowhere where I live.
I should obviously split it up so there is no more than 250k in an account because of the FDIC insurance policy- but is there any security benefit to using a certain type of bank/credit union/whatever over another one?
Any advice from those who know would be appreciated.
Dislike ads? Remove them and support the forum:
Subscribe to Fastlane Insiders.