You would still be losing purchasing power due to inflation. At this scale it as long as you are not a greedy moneywhore investing it, or not would not impact a lavish and privileged lifestyle for a few generations.
If you wanted to keep your descendents wealthy for as long as possible, you park it all in a trust, have a family office manage it for you aiming for real returns of 3%, so roughly 5-6% nominal returns and descendents get whatever real returns acrue after inflation as income forever.
okwhateverdude@lemmy.world 1 day ago
It depends on how much risk you want I guess. Amounts that big aren’t covered by deposit insurance in a single account. Banks also fuck up all the time. They could give someone else access to your money without you knowing. And if you have that much money, it makes you a target. There will be tax things you have to do around that money too.
cheese_greater@lemmy.world 23 hours ago
Yes but you can pay “the smartest people” to delegate that even pay for a series of overseers of the smart people to ensure its handled properly
okwhateverdude@lemmy.world 23 hours ago
Sure, but then you still need to deal with people. And people aren’t trustworthy with money, so now you gotta worry about that too. And what kinda rubric do you even come up with for those interviews for smart people to make sure they aren’t going to just steal your money or lose it through negligence? So now you gotta think about that shit too. Ever done interviews? No thanks. Again, giant fucking hassle.
cheese_greater@lemmy.world 23 hours ago
Look, rich people have almost zero problem with settig up a societys laws and keeping them “up to date” to preserve their interests, Im pretty sure they got it covered, for their fam