Where Millionaires Keep Their Money

AAZKANEWS

11 OCTOBER,2022

BY SYAMALA

The Secret Location Where Millionaires Store Their Cash

Where do the wealthy put their cash? Only around 20% of the country's 20.27 million billionaires inherited their wealth; the majority did not

The majority of millionaires' financial holdings are often cash or highly liquid cash equivalents. At the teller's window, there is no waiting in line.

According to studies, millionaires may hold up to 25% of their assets in cash on average.  

Treasury notes, commercial paper, certificates of deposit, and money market mutual funds are a few examples of cash equivalents.

Money-market accounts and Treasury notes make up a large portion of Berkshire Hathaway CEO Warren Buffett's portfolio. Millionaires are unconcerned with FDIC insurance.

There are reportedly 100,000 cryptocurrency millionaires, the bulk of whom own Bitcoin

Numerous people want varied investing portfolios since they want to lower their risk. These investments might be combined in an effort to increase wealth.

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