Thread Starter: Rocky P
Title: Re: Large Deposit
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Cash and CD's are fine, but they will be losing money. Not only is the interest below inflation rates, but the interest is also taxed. For that amount, at only a 2% return, they would be paying taxes on $20,000,000.
They definitely need to see a competent estate/financial planning attorney, CPA and financial adviser at a BoA, Chase, Schwab, Vanguard, etc. to identify risks, diversify their portfolio, etc. Keeping it fully in cash should not be an option
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