The first thing you do is get your shit together before you come forward with the winning ticket. After that everything is handles with wire transfers.The Mega Million 1.35 billon dollar lottery was won by one person this week The lump sum cash out is 724.6 million. How does one deposit such a huge some and where? FDIC insurance stops at $250,000.
LOL. They are not depositing it in a savings account.The Mega Million 1.35 billon dollar lottery was won by one person this week The lump sum cash out is 724.6 million. How does one deposit such a huge some and where? FDIC insurance stops at $250,000.
They don't deposit it. They have a professional who deals with the investment of the money through a trust fund. Hopefully honestly and prudentlyThe Mega Million 1.35 billon dollar lottery was won by one person this week The lump sum cash out is 724.6 million. How does one deposit such a huge some and where? FDIC insurance stops at $250,000.
LOL. They are not depositing it in a savings account.
No one puts $724 MILLION in a savings account while figuring things out.You don’t really know what they are going to do with it. Most people want it somewhere safe while they take a pause, hire a financial manager, and figure out their next steps.
Nothing wrong with savings accounts.
You don’t really know what they are going to do with it. Most people want it somewhere safe while they take a pause, hire a financial manager, and figure out their next steps.
Never said there was. But no one ever has or ever will deposit $700M in a saving account.Nothing wrong with savings accounts.
It has to be deposited in a financial institution somewhere. It being a "trust fund" doesn't change that.They don't deposit it. They have a professional who deals with the investment of the money through a trust fund. Hopefully honestly and prudently
The Mega Million 1.35 billon dollar lottery was won by one person this week The lump sum cash out is 724.6 million. How does one deposit such a huge some and where? FDIC insurance stops at $250,000.
Oh course but it's not a personal savings accountIt has to be deposited in a financial institution somewhere. It being a "trust fund" doesn't change that.
It would be kind of cool to use one of those pneumatic tube thingies at the credit union drive-thru just to see the expression on the teller’s face.The Mega Million 1.35 billon dollar lottery was won by one person this week The lump sum cash out is 724.6 million. How does one deposit such a huge some and where? FDIC insurance stops at $250,000.
Sure they do. Why not?No one puts $724 MILLION in a savings account while figuring things out.
I don't see why the delay in finding out who the winner is has anything to do with what they ultimately choose to do with the funds. I would get the check and figure out the details later.You figure that all out first before you take possession of the funds. That is why there is usually months between knowing that there has been a winner and even possibly hearing who that person is.
How do you figure?Oh course but it's not a personal savings account
Well I suppose you could but that would be super dumb in my view.......you got some personal story to share? Do you live in Maine OMG....can I be your friend!How do you figure?
It has to be deposited in a financial institution somewhere. It being a "trust fund" doesn't change that.
The Mega Million 1.35 billon dollar lottery was won by one person this week The lump sum cash out is 724.6 million. How does one deposit such a huge some and where? FDIC insurance stops at $250,000.
And a broker/investment managerWell, after hiring a lawyer/CPA/whatever...
I have no idea but I'm pretty sure the financial and tax advisors I hired before I even touched the money would.The Mega Million 1.35 billon dollar lottery was won by one person this week The lump sum cash out is 724.6 million. How does one deposit such a huge some and where? FDIC insurance stops at $250,000.
No. There's no reason to do anything "quickly." It can be put into an interest-bearing account until the winner decides what to do.I'm wondering if it might go directly into some type of investment account? Perhaps a money market account, or conservative fund of some sort? Then quickly disbursed into a diversified investment portfolio?
The OP does pose an interesting question.
The Mega Million 1.35 billon dollar lottery was won by one person this week The lump sum cash out is 724.6 million. How does one deposit such a huge some and where? FDIC insurance stops at $250,000.
It's my understanding that they don't do wire transfers, only checks.Would a check be issued instead of a wire transfer? Once received, the monies can be divided and invested any way the winner (and financial advisors) see fit.
I would just do that. Just for the fun of it, to see jaws dropped and my banker being close to a heart attack.And they are not going to claim it until that point.
Never said there was. But no one ever has or ever will deposit $700M in a saving account.
I don't play the lottery because I understand math and statistics.The Mega Million 1.35 billon dollar lottery was won by one person this week The lump sum cash out is 724.6 million. How does one deposit such a huge some and where? FDIC insurance stops at $250,000.
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