Hi all,
I'm in the process of selling my small business and should end up with approximately 3 million dollars in the next few weeks. At the point of sale, I need to transfer that into a bank(s). Obviously, I don't want to keep it in a bank long term -- I will want to invest and hopefully find a financial advisor to assist. But to get started, I just need to put the money somewhere while I figure our the best course of action for how to manage it smartly. I know banks have a 250k FDIC insurance limit -- so how would I store 3m? Do I need to get multiple accounts at multiple banks? Is there any way around this?
After storing it temporarily, Whats the best way to get saavy about investing / managing tax exposure, etc? Any good books / blogs to read?
Submitted November 20, 2020 at 11:26PM by Peaceandmacaroni https://ift.tt/2IVhyxP
