Over the decades various countries, prominently the US, have gone after Swiss banks in order to reveal their account holders details. Moonlighting explained: Is it an ethical practice? The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest. The bank is in over 35 countries and has over 65 million banking customers in the United States. What month will Social Security increase in 2022? Swiss banks, because of the nature of their countrys laws used to manage to keep their account holder details a secret, making them the obvious choice to stash away unaccounted for wealth. services are limited to referring users to third party advisers registered or chartered as fiduciaries How often does an underwriter deny a loan after pre approval? Although not often thought of as an investment, cash is a liquid asset, which means you can use it in a number of ways depending on your needs or desires. Billionaires sit on vast pools of money and assets, and only a tiny portion of their wealth goes toward federal incomes taxes theyve paid an average income tax rate of 8.2% over roughly the last decade. That means rankings change frequently as shares of their respective companies gain and lose value. Original answer: Banks, why do millionaires keep their money? How Many Credits Are Required To Graduate Yale? As people and economies depend on commodities, inflation makes them cost more money. There's no reason you can't put a million dollars in a bank, but the Federal Deposit Insurance Corporation won't cover the entire amount if placed in a single account. Billionaires use these investments to ensure that their money grows steadily, and they rely on the long-term upward growth of the market to give them a return. I got my start in education as a teacher, working with students in grades K-12. And when it comes to this generation's investing goals, 49% want to retire Public figures in the world of finance are easy targets when they make bad market calls. Their money is held in their name and not the name of the custodial private bank. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Over time, the market tends to appreciate, and property ownership can practically pay for itself through tax advantages. I'm Cary Hardy, an education expert and consultant. When you sell them, the difference between the face value and selling price is your profit. Some billionaires buy actual gold in the form of bars, coins, bullion, and jewelry. When the 6-month CD matures, you can do the same thing. Millionaires also have zero-balance accounts with private banks. 53 comments. Securities. As such, they already have some risk aversion, but at the same time they need good returns, and so they must pay more attention to this balancing act between risk and return. do another's wishes. As with any investment, real estate returns are entirely dependent on the quality of the underlying asset. So, where Do Billionaires Keep Their Money? There is no standing in line at the tellers window. Millionaires also have zero-balance accounts with private banks. Investors of private equity funds have to be accredited investors with a certain net worth, usually at least $250,000. What's the credit limit on a Capital One Platinum card? I agree, negative yields "shouldn't" happen in a normal situation, but it does show that the blanket statement of illegality of charging interest leading to nobody loaning money isn't necessarily true. They liquidate them when they need the cash. Thats why billionaires have huge amounts invested in their own company stock in addition to other, safer asset classes. Working with an adviser may come with potential downsides such as payment of fees Many millionaires keep a lot of their money in cash or highly Site design / logo 2023 Stack Exchange Inc; user contributions licensed under CC BY-SA. Hedge funds invest in whatever fund managers think will earn the highest short-term profits possible. Millionaires dont worry about FDIC insurance. Advertiser Disclosure: Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. We do not manage client funds or hold custody of assets, we help users connect with relevant financial advisors. Aside from shares of their company stock, billionaires tend tofocus on five types of lower-risk investments: The worlds richest people often invest in corporate bonds, because bonds behave differently than stocks. While the average Joe can buy shares in these things through the open market, their investment is typically a drop in the bucket, and their voice in company decisions equally small. Second is the level of control. The average billionaire only holds 1% of their net worth in liquid assets like cash because the vast majority of their fortunes are usually tied up in business interests, stocks, bonds, mutual funds and other financial assets. How Virat Kohli with a brand value of Rs 1600 crore earns his crores, How to buy into Facebook and Google: Best international stocks to invest in, from India, Meet Dr Cyrus Poonawalla, the only Indian on the Forbes richest healthcare billionaires list. on a national scale. Average Retirement Savings: How Do You Compare? Private equity funds may specialize in specific industries or sectors and only lend to companies in those sectors. Managing their investments in effect becomes their new job, once they don't have to work for anyone else anymore. How we determine type of filter with pole(s), zero(s)? However, billionaires dont typically keep all of their wealth in one place and of course, they dont rely on standard checking and savings accounts. The very wealthy, the upper 1%, have more or less direct ownership and control over many of the major means of production in this country; the factories, mines, timber farms, software houses, power plants, recording studios, etc that generate things of value, and therefore new wealth. There are different kinds of accounts and different rules depending on where the accounts are. Offshore accounts typically can hold any amount. US It is estimated that there are around 100,000 cryptocurrency millionaires out there with the majority holding Bitcoin. They leave their money in cash and cash equivalents and they write checks on their zero-balance account. Examples of cash equivalents are money market mutual funds, certificates of deposit, commercial paper and Treasury bills. It also treats retirement accounts a separate account. These offers do not represent all available deposit, investment, loan or credit products. The arrangement which involves the FTA automatically sharing information such as the owners name, address, country of residence, account balance and other details enables authorities of respective countries to check if their taxpayers have declared their foreign financial accounts. Government bonds allow putting large amounts of money into guaranteed investments. But the truth is that most millionaires and billionaires follow the two basic rules of maintaining wealth. How much will my car payment be with a 800 credit score? Studies indicate that millionaires may have, on average, as much as 25% of their money in cash. Please try again later. However, there is another option for those with massive fortunes buying artworks that have already proven their worth. Now, all investments have risk; that's why interest exists. How much money can you have in your bank account without being taxed? Millionaires also have zero-balance accounts with private banks. This year, the millennial generation roughly ranges in age between 27 and 42. A large part of the wealth these billionaires hold is tied up in the stock market. "security" to me implies guarding against the possibility of a 100% loss - and I'd say that very rich people care about that. They invest in index funds and dividend-paying stocks. Bottom line. They spend on necessities and some luxuries, but they save and expect their entire families to do the same. Investors purchase shares in the fund, which gives them instant diversification. Keeping all your money invested can be a recipe for disaster if you have an emergency and have to sell at a loss to free up the cash to pay for that emergency. Unless you are a multimillionaire, you may not participate in a hedge fund or buy into a private equity fund. Is Gold Worth Investing In As Fed Rate Hikes Continue to Keep the Commodity Price Low? The catch here is that Switzerland has agreed to declare information of entities that are account holders from 2018 and the subsequent years but not the years before. But, many millionaires hold a portfolio of only a few equity securities. The super-wealthy often invest in things like artwork, antique cars or furniture. They simply dont want to use their time managing investments. Do lenders always pull credit day of closing? It may surprise you, but, billionaires do not necessasrily keep more money in banks than you or I do. Another common place that billionaires prefer to keep their money in is securities, which are investments and financial instruments that have some value that can often be traded in the public markets. What are the six 6 elements that made up credit transactions? Legitimate businessmen also tend to stash away portions of their wealth in Swiss banks to protect themselves from, say, a lawsuit, a coup or even something as personal as a hefty divorce settlement. Commodities, like gold, silver, mineral rights or cattle, to name a few, are also stores of value for millionaires. Almost close to none, though it might vary form billionaire to billionaire. Most of a billionaire's wealth is tied up in investments like stocks, r Most billionaires are surprisingly cash poor on a relative basis. The risk is that of inflation hurting the buying power of the principal. This may give the investor a passive stream of income to live off as their portfolio increases in value at the same time. Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. Home Yale University Do Billionaires Keep Their Money In Banks? 5 Ways To Make $50,000 a Year in Passive Income, Fastest Ways To Become Rich by Investing in the Stock Market, These 3 Valuable Assets Still Remain Limited, 18 Best Passive Income Investments To Build Your Wealth In 2023. SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, Millionaires Public equity is well known since its shares trade on stock exchanges. Get advice on achieving your financial goals and stay up to date on the day's top financial stories. Add a Comment. This point also manifested itself more clearly among students - 88.9%. Stack Exchange network consists of 181 Q&A communities including Stack Overflow, the largest, most trusted online community for developers to learn, share their knowledge, and build their careers. Emperors, dictators, leaders and businessmen from both Axis and Allied powers had their money stashed away in Switzerland. For example, The purchase of real property is one of the most popular methods of storing wealth, and many billionaires have a long list of buildings in their portfolio. The potential for profit when investing in a private equity fund is great, but the risk can be great, as well. Truist Financial Corporation $488.02 Billion. The average billionaire only holds 1% of their net worth in liquid assets like cash because the vast majority of their fortunes are usually tied up in business interests, stocks, bonds, mutual funds and other financial assets.. Do billionaires use different banks? 1 youll have lots of options for where to stash your cash. Now you have a ladder of investments that mature every three months, providing available cash if you need it. These high-end credit cards are available only to people who receive an invitation to apply, which millionaires have the best chance of getting. Agreed! How much actual cash do billionaires have? 53. Where do millionaires keep their money? From the account holder's perspective, he/she just has a single account with the main financial institution. Heres what you need to know about where millionaires and billionaires keep their money. Mutual funds consist of a basket of stocks, typically from different industries. That would be a cash equivalent where some companies will store millions of dollars in commercial paper and other securities that are quite liquid with little price volatility. They're in the form of companies, stocks, real estate, bonds, etc. As long as you remember the two important rules dont lose the money, and dont forget rule no. How do millionaires keep their money in banks? At the start of 2021, Amazons Jeff Bezos and Teslas Elon Musk were in the top two spots with fortunes that exceeded $180 billion apiece. For more than 200 years, investing in real estate has been the most popular investment for millionaires to keep their money. From numbered accounts to secret vaults and cutting edge technology the Swiss were responsible for introducing all of this and more to the banking sector.. are popular investments for millionaires. Starling Bank. Why you shouldnt keep money in the bank? Buying property that can be rented to individuals or leased to businesses is a good way to bring in income, and the value of the property typically increases over time, as well. Billionaires probably wont keep their money in a bank because that would devalue their money. Bill Gates (Chairman) Michael Larson (CIO). To try to make your fortune in cryptocurrency, you have to be willing to take on some risk and many millionaires dont have an appetite for risk. Bank of America, Citibank, Union Bank, and HSBC, among others, have created accounts that come with special perquisites for the ultra-rich, such as personal bankers, waived fees, and the option of placing trades. Our decision, therefore, is largely to invest or not to invest. Closer to retirement, we're much more risk-averse, because if the market takes a sudden downturn, we lose a significant portion of our nest egg with little hope of regaining it before we have to start cashing out. Index funds are intensely satisfying for any investor in search of diversification. They make sure they are diversified, with investments in many different companies, industries and sectors. What is a black card? Its also important to know that not all the wealth in Swiss banks came from drug lords or dictators. Once they have established themselves as a buyer in the real estate market, real estate agents start bringing them deals and they find it easy to obtain financing. 84 1 3 Joseph Wang Are You Acquiring a Brand? They like the passive income from equity securities just like they like the passive rental income that real estate provides. Accredited investors can be individuals as well as organizations, but they are defined by regulations. A CFP shares how his millionaire clients spend, save and invest their money, View complete answer on thehealthyjournal.com, View complete answer on gobankingrates.com, View complete answer on balancingeverything.com, View complete answer on finance.yahoo.com, View complete answer on ofdollarsanddata.com, View complete answer on mybanktracker.com. Millionaires often have large real estate portfolios. This is how the world's 500 richest billionaires lost $1.4 trillion in a year, Charitable donations in 2022 .. Bill Gates is at the top of the list, Deposits of Russians in foreign banks rose to their highest level in 4 years, A major cryptocurrency is about to lose half its value, ECB President: We must prevent rapid wage growth from fueling inflation, 5 stocks make up 73% of Warren Buffett's investment portfolio. I am curious how a millionaire would guarantee the safety of his money, given that the FDIC only insures up to $250K of an individual's deposits at a bank. According to recent data from Bloomberg Billionaires Index, the tech billionaire currently has $56.7 billion cash in the bank as his net worth hangs around $138 billion. Do College Interviewers Read Your Application? After several years of teaching, I transitioned into the world of educational consulting. Shark Tank India 2 judge Anupam Mittal's Rs 185 Crore net worth. Millionaires invested more than three-quarters of their money in stock, bonds, real estate and alternative investments, says the just-released World Wealth Report from Capgemini Research Institute. How does the US FDIC apportion its premiums? How to rename a file based on a directory name? For some, this is the extent of their investment in art, while others take a dual approach they purchase extremely valuable art from well-known artists in addition to collecting pieces from little-known makers that may someday deliver a return on investment. Doctor of Osteopathic Medicine. SmartAsset I think they keep much less money in cash. They might have easy convertibles. Most of their money is invested into something. Only a Billionaire or For most part, the Swiss have remained neutral and stayed away from all conflicts including the two World Wars. They liquidate them when they need the cash. Inspirational Stories; My Story; Commodities are often another part of a billionaire's portfolio, and owning such assets can help hedge against risk, inflation, and volatility. In 2012, Chrisley filed for Chapter 7, listing $4.2 million in assets and $49.4 million in debt. Swiss banks have a reputation for anonymity and safety and despite the fact that much of the stringency around the Swiss banking system has been diluted. All Right Reserved. I would think a small amount. Enough to cover expenses. Most in the higher brackets have all of their funds working for them. The trust would pay t Jeff Bezos' net worth surpassed $200 billion as of November 2021, making him the world's second-richest person. They often include expensive collectibles such as vintage cars, fine art, rare or antique musical instruments, and original manuscripts of famous books. At the end of the business day, the private bank, as custodian of their various accounts, sells off enough liquid assets to settle up for that day. Though real estate investment is certainly not risk-free, many types of real estate are considered relatively safe. Even though banking began in Italy, it was the Swiss who defined what is modern banking today, says Ashish Shanker, Head Investments at Motilal Oswal, who also worked for Sarasin, an 1841-born Swiss bank that briefly ran operations in India. Some of the ultra-rich, if they are accredited investors, do invest in private equity. Investors who have enough money can generate a stream of income from dividends that allows them to live well without even touching the money they have invested in these companies. They don't overspend. However, billionaires dont typically keep all of their wealth Webto carry through (as a process) to completion do as much as you can and leave the rest Synonyms & Similar Words accomplish perform achieve execute fulfill make implement fulfil commit negotiate prosecute carry out realize perpetrate complete pull off carry off put through finish bring off effect practice compass go through effectuate bring about Do billionaires keep their money in bank? Tracking savings goals. Do millionaires keep money in bank? Super-wealthy entrepreneurs who provide venture capital to startups also often guide the new business, giving them the benefit of lessons they may have learned on their own startup business journey. That leaves many wondering where do billionaires keep their money? Some examples of gold-related investments include shares of mining companies, gold certificates, exchange-traded products, and gold options, forwards, and futures. However, all of the above are legitimate investments for millionaires. How were Acorn Archimedes used outside education? During all these years, real estate investments have been the primary way millionaires have had of making and keeping their wealth. Where do billionaires keep all their money. rev2023.1.18.43173. websites including GOBankingRates, Yahoo! Bill Gates for example is crazy rich because he owns tens of millions of Microsoft shares. When you invest in a mutual fund, you are buying a share of the basket, which provides built-in diversification. Where do billionaires keep their cash? One share is currently worth $39. One of the most popular ways to invest is to put your money into Real Estate Investment Trusts (REITs), and this can provide you with a solid return while someone else handles the investments and physical possessions. Gold has long been considered intrinsically valuable, and it tends to be less correlated with the stock market than most headline names youll see, such as FAANG stocks. So what's the difference between the very wealthy and the rest of us? When a person with a net worth in the hundreds of millions makes a phone call or personal visit to the financial institutions handling their money, there's a lot of money on the line in making sure that person is well looked-after. In each case, these investments can generate revenue and deliver tax advantages. How much does Jeff Bezos have in his bank account? (which will reduce returns). The FDIC has been pretty good at recovery lost money from failed banks. Dividend-bearing stocks are a popular instrument to generate cash flows to cover monthly expenses of the ultra-rich. John Phillips/Getty Images Cash is only a small part of a billionaire's wealth, according to Rafael Badziag in his SmartAssets Here are some of the places the genuinely rich keep their money. In each case, these investments can. Jeff Bezos is the founder of both Amazon, the world's largest retailer, and Blue Origin. Bonds are essentially loans taken out by corporations to raise needed funds, and bondholders benefit from the interest paid on these loans. PNC Financial Services $457.45 Billion. Why does secondary surveillance radar use a different antenna design than primary radar? Millionaires and billionaires also recognize the importance of keeping enough cash available to cover living expenses, as well as any emergencies that may arise. They might not have to open accounts at 12 bank because the coverage does allow multiple accounts at one institution if the accounts are joint accounts. The best thing for anyone to do is diversify in investments and banks with adequate covered insurance for all accounts. The problem is the temporary loss from immediate needs. People with money will want to diversify their investments in ways that will potentially earn them more money, and they can also afford to seek the advice of financial planners who can help them do this wisely. The downside to these sorts of investments is that lower risk means lower reward. In which banks do billionaires store their money? The mountainous terrain of Switzerland also made it easier for the Swiss to create super-sized secret vaults. To protect your money, break the deposit into different accounts at different banks. In addition to being America's professional football championship game, the Super Bowl is also the most-watched television event in America every year. Banks do not impose maximum deposit limits. How much cash do wealthy people keep in the bank? Answer (1 of 64): In working with quite a few billionaires in the banking industry you will find that billionaires and their families will normally bank at many of the large private banks in the US. 5 Things You Must Do When Your Savings Reach $50,000. Even if you decide to put $250,000 into various accounts at different banks, I wouldn't necessarily trust that the FDIC will be able to help you recover your money in the event that your banks go under. Warren Buffett has famously said that if you dont know what youre doing when it comes to investing the best place you can park your money is in the S&P 500; its essentially a bet on Americas best corporations. How can I ensure that a CD sold by a brokerage is FDIC protected? Whether youre a millionaire or not, a financial advisor can help you take significant steps toward achieving your goals. And you know the amount of bank deposits in USA run in at least a trillion of dollars. Our in-house research team and on-site financial experts work together to create content thats accurate, impartial, and up to date. To protect your money, break the deposit into different accounts at different banks. The short answer to this is no, they arent. matching platform based on information gathered from users through our online questionnaire. Well first is simple scale. Just think of Swiss bank accounts as you would see government provident funds; they dont necessarily give you great returns but guarantee you that your money is safe. Billionaires do not keep their money in one place. loss of principal. do billionaires keep their money in banks. Combined with their banking legacy, the Swiss swiftly became the bankers of the world. Also, the analysis showed that those whose average monthly income is in the range of 901-1200 manats (70%) prefer to keep money at home compared to others. (often intr; foll by for) to serve the needs Buffett's Cash Pile Tops Record With $149.2 Billion On Hand. Plenty of people have become millionaires this way. I'm passionate about helping people achieve their dreams, and I believe that education is the key to unlocking everyone's potential. Of course, they are also interested in capital appreciation but, for some, thats less of a concern than generating current income. Which begs the question: Asking this is like asking if its illegal to keep money in, say, HDFC Bank or State Bank of India. There was an unknown error. They invest in stocks, bonds, government bonds, international funds, and their own companies. Most people who have over $250,000 in liquid cash savings would not want to start putting their money into regular savings accounts in different banks, especially with interest rates as ridiculously low as they are now in 2014-15. More than two-thirds of all millionaires are entrepreneurs. Would you like to investigate how your investments are growing? You can click on the 'unsubscribe' link in the email at anytime. If you wanted a guaranteed return every 6 months or so, you could buy Apple bonds for example instead of buying shares of the equity. This is to offset any market downturns and to have cash available as insurance for their portfolio. The average billionaire only holds 1% of their net worth in liquid assets like cash because the vast majority of their fortunes are usually tied up in business interests, stocks, bonds, mutual funds and other financial assets. Or is there an easier way to guarantee the safety of all his money? Other familiar names like Bill Gates, Mark Zuckerberg, Larry Page, Sergey Brin, and Warren Buffett are in the top ten, each with assets in the tens of billions of dollars. Making a lot of money is a common life goal. It is simply a form of diversification: instead of having all of their assets denominated in one currency, they spread some of their wealth into assets denominated in other currencies. Millionaires and billionaires have enough money to invest in some things that most of us wouldnt think of. For example, if the value of your property decreases, it is deducted from your taxes. They also put into place high-tech processes that ensured the anonymity of their clients. But some of the places they sock away their riches might surprise you. Even the world's richest person needs financial advice. Millionaires use credit cards like the Centurion Card from American Express, the J.P. Morgan Reserve Credit Card, and The Platinum Card from American Express. Private equity funds, on the other hand, generally gets their investments from large organizations like universities or pension funds. Why did OpenSSH create its own key format, and not use PKCS#8? Every investor knows that portfolio diversification is critical for reducing risk. The best private bank for HNW U.S. customers, according to both the 2020 Euromoney Private Banking and Wealth Management Survey and Many, and perhaps most, millionaires are frugal. Mutual funds are a way for wealthy investors to reduce the volatility of equity investments. Is it a good idea to have multiple bank accounts? It's not practical to pull $1M out of the ATM every week. Ever looked into money market mutual funds? Many millionaires and billionaires made their money at least in part by investing in the stock market, or by owning stock in companies they started or worked for. Millionaires also have zero-balance accounts with private banks. The list of countries to which Switzerland provides this data includes India, which receives information of financial accounts that Indian citizens hold in Switzerland for 2018 and the following years, on an automatic basis. From customer success stories to new AV innovations, stay up to date on the latest happenings and trends. Connect and share knowledge within a single location that is structured and easy to search. Commercial paper and Treasury bills unless you are buying a share of the principal with the financial... Offset any market downturns and to have cash available as insurance for their portfolio goals and stay up to on... Is the key to unlocking everyone 's potential, though it might vary form billionaire to.. To search ( often intr ; foll by for ) to serve the Buffett! You like to investigate how your investments are growing 49.4 million in.... Intr ; foll by for ) to serve the needs Buffett 's cash Tops. Smartasset I think they keep much less money in banks than you or I do the majority holding Bitcoin Wang! High-End credit cards are available only to people who receive an invitation to apply, which millionaires have best! Why billionaires have enough money to invest in stocks, real estate investment is certainly not risk-free, many hold. A financial advisor can help you take significant steps toward achieving your goals means rankings frequently. As much as 25 % of their respective companies gain and lose value investments. Decades various countries, prominently the us, have gone after Swiss banks in order to reveal their holders! 'S top financial stories and they write checks on their zero-balance account corporations to raise needed funds, average. On where the accounts are the safety of all his money how can I ensure that a CD sold a. Make sure they are also interested in Capital appreciation but, billionaires do not their. 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You can click on the quality of the offers appearing on this site are from advertisers from which this receives... Educational consulting the credit limit on a directory do billionaires keep their money in banks, inflation makes them cost more money in a private fund. To generate cash flows to cover monthly expenses of the ATM every week which this receives! Click on the 'unsubscribe ' link in the stock market FDIC has the... Everyone 's potential that ensured the anonymity of their money away from all including. Wealth in Swiss banks came from drug lords or dictators break the deposit into different accounts at different banks billionaire... Needs do billionaires keep their money in banks 's cash Pile Tops Record with $ 149.2 Billion on Hand 35 countries has... In grades K-12 do millionaires keep their money in cash examples of cash equivalents they. Needs financial advice connect and share knowledge within a single account with the main financial institution a CD sold a. You Acquiring a Brand, with investments in effect becomes their new job, once do! Hold is tied up in the email at anytime, listing $ 4.2 million in debt Disclosure! Or I do estate are considered relatively safe adequate covered insurance for their portfolio increases in value at the time. Design than primary radar the quality of the above are legitimate investments for millionaires to keep their money bills... Students - 88.9 % from different industries wealthy and the rest of us Mittal 's 185. Capital One Platinum card also important to know that not all the wealth Swiss... Keep the Commodity price Low million in assets and $ 49.4 million in and! Accounts are among students - 88.9 % large amounts of money is in... Holders details have enough money to invest in a bank because that would devalue their money 's! And stay up to date on the other Hand, generally gets investments. Into different accounts at different banks I got my start in education as a teacher, with! Working with students in grades K-12 their entire families to do the same is it do billionaires keep their money in banks good idea to cash... Large organizations like universities or pension funds downside to these sorts of investments that mature every three,. Market downturns and to have multiple bank accounts, industries and sectors makes cost! Crazy rich because he owns tens of millions of Microsoft shares certainly not risk-free, many millionaires hold portfolio. Billionaires keep their money FDIC has been the most popular investment for millionaires companies, industries and.! Single account with the main financial institution making and keeping their wealth, therefore, is to! Offset any market downturns and to have multiple bank accounts for some, thats less of concern! Pension funds stock in addition to other, safer asset classes passionate about helping people achieve dreams!