Where Do Millionaires/Billionaires invest there money?

lovinglifenow444

Hi im learning about money at the moment and was wondering if any of you wise financial advisor peeps on here know of what millionaires/billionaires do with there money? investments? swiss bank accounts? do they buy property? who do they go to for financial advice? as only so much is safe in a bank account do they spread money around in lots of different bank accounts? how do you find this all out?

Anyway, thanks in advance, I always wondered what they do as some people seem to go broke quickly even when they are very wealthy where a lot of them obviously have some serious financial planners with them? who are these financial planners/advisors? who does Simon Cowell go to? Richard Branson? etc etc..

Many thanks

ed123_2

....the people I know who work in finance in the city put their money in "high end" property in the London area (where there is a world market)....they do not put it into shares/bonds/ut's etc which they flog to us mug punters.......

opinions4u

I would hazard a guess that Richard Branson has no investments in the products offered by his Virgin Money brand.

cashbackproblems

ed123 wrote: »

....the people I know who work in finance in the city put their money in "high end" property in the London area (where there is a world market)....they do not put it into shares/bonds/ut's etc which they flog to us mug punters.......

Not just millionaires but i have well paid city friends who put their cash into apartments in zone 1/2 and make a ton from rents and price increases.

Buying shares and earning 2/3% above bank rates is not going to make anyone rich.

dunstonh

opinions4u wrote: »

I would hazard a guess that Richard Branson has no investments in the products offered by his Virgin Money brand.

ROFL. A very astute businessman though. Virgin financial products are a bit like Apple. People buy the brand not the quality (or lack of).

I always wondered what they do as some people seem to go broke quickly even when they are very wealthy

I think you are referring to entrepreneurs rather than people who have obtained wealth. Entrepreneurs tend to try different ventures and fully accept some will work, some may not. However the advantages of limited liability means that one business can fail and have little or no impact on their personal wealth or the other businesses.

where a lot of them obviously have some serious financial planners with them? who are these financial planners/advisors?

You are talking about a different type of adviser and more than one. At the level of multi-million p.a. turnover you would have accountants, solicitors and advisers working for you either exclusively or be one of just a handful of their clients. However, those with a few million tend to stick to your normal IFAs and accountant.

joerugby

cashbackproblems wrote: »

Not just millionaires but i have well paid city friends who put their cash into apartments in zone 1/2 and make a ton from rents and price increases.

Buying shares and earning 2/3% above bank rates is not going to make anyone rich.

Eggs in that basket might have done well in the past ........

bobbyj_2

I have fixed bonds, property, but mainly equities. If you can't return double digits percentage at the moment via the stockmarket then you'll never make a bean. My money mainly in trading account playing equities, wtfe can you get a return?? Property no, gold possibly but no interest/dividends, bond market possibly but stockmarket deffffffo.

MarkFromCornwall

lovinglifenow444 wrote: »

Hi im learning about money at the moment and was wondering if any of you wise financial advisor peeps on here know of what millionaires/billionaires do with there THEIR! money?

I think you'd find "The Millionaire Next Door" by Thomas Stanley and William Danko interesting reading.

googler

lovinglifenow444 wrote: »

Hi im learning about money at the moment and was wondering if any of you wise financial advisor peeps on here know of what millionaires/billionaires do with there money?

More reading; Rich Dad, Poor Dad by Robert Kiyosaki

Alternatively; look at Dragon's Den. Millionaires give start-ups £X with the promise that when they reach a certain level they'll get £X PLUS £Y back, or they'll get an ongoing percentage of the business profits ......

neil324

Imagine chopping up 5 billion into 50K chunks.

malik999

lovinglifenow444 wrote: »

some people seem to go broke quickly even when they are very wealthy where a lot of them obviously have some serious financial planners with them? who are these financial planners/advisors?

Bernard Lawrence Madoff