Where to park money from business sale? Anything better than a savings account

[samuraijack]

Hey yall,

I sold my bizz last year, right at the 7 fig mark after taxes. Money has just been sitting in my "savings" bank account rotting away.

I have a tiny amount in crypto ($25k in ETH)

Where else should I put some of the money that is low risk? I don't really care about returns as long as i can take money out quick and better than the 0.02% my savings account is giving me.

I currently have only basic knowledge of the stock market.

 

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[GuestUser4aMPs1]

First: Grats!

Second: No idea. I struggled to know where to park the cash after making it too, and don't like just living on the savings. Dividend stocks? REITS? Not a clue. @Kak / @MJ DeMarco ?

 

[BizyDad]

First: Grats!

Second: No idea. I struggled to know where to park the cash after making it too, and don't like just living on the savings. Dividend stocks? REITS? Not a clue. @Kak / @MJ DeMarco ?

To be fair, it sounds like you have some clue...

 

[Matt Sun]

Hey yall,

I sold my bizz last year, right at the 7 fig mark after taxes. Money has just been sitting in my "savings" bank account rotting away.

I have a tiny amount in crypto ($25k in ETH)

Where else should I put some of the money that is low risk? I don't really care about returns as long as i can take money out quick and better than the 0.02% my savings account is giving me.

I currently have only basic knowledge of the stock market.

https://www.thefastlaneforum.com/community/threads/the-printing-money-thread-how-i-make-1-10-monthly-selling-options.66398/

 

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[MTF]

• Blue chip dividend stocks (ideally with at least 25 years of consistent dividend increases),
• REITs (as above, the longer the history, the better)

Less liquid:

• P2P real estate loans (you can choose short-term ones or invest on platforms where there's a secondary market if you need more liquidity)

Other things are even less liquid.

 

[WestCoast]

I'm going to suggest something extremely boring:

Spend the dollars and invest some hours with a *fee only* financial advisor.
Not the financial advisors that most people know of - where they try to sell you high load stuff, insurance policies, or whatever.

Fee only people are like a lawyer. They get paid a lot per hour, and that's it.
There are not a lot of them, but they exist in every major city.

They won't try to sell you anything. (aside from you joining their client list on an annual fee basis)
They can walk you through your options, opportunities - and they have no conflict of interest.

Like a lawyer, most of them will talk to you for free for the first hour.
You can talk to 10 of them if you want. But, they can (generally) be trusted, since they are independent.

That would be my first call.

 

[fridge]

What is the time frame that you need/plan to need the cash? If you have 7 figures, you should be able to get a good blend of stocks, a small amount of crypto, real estate, and opening another business (even if its part time) to get a return of around 6-8% per year. But every option listed above is completely dependent on if/when you need the money. I wouldn't suggest investing in any of these options if you plan to need the money in the next few months.

 

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[Guest-5ty5s4]

Hey yall,

I sold my bizz last year, right at the 7 fig mark after taxes. Money has just been sitting in my "savings" bank account rotting away.

I have a tiny amount in crypto ($25k in ETH)

Where else should I put some of the money that is low risk? I don't really care about returns as long as i can take money out quick and better than the 0.02% my savings account is giving me.

I currently have only basic knowledge of the stock market.

1. Buy unscripted
2. Go straight to the “money system” chapter(s)

Follow that.