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How Much Money Millionaires Put in Their Checking Accounts vs. Savings

The article from MSN discusses how millionaires manage their finances, particularly focusing on the allocation of funds between checking and savings accounts. According to financial experts, millionaires typically keep a relatively small amount in their checking accounts, just enough to cover immediate expenses and maintain liquidity for a few months. This amount can range from $10,000 to $100,000, depending on their lifestyle and spending habits. For savings, however, the approach varies; some millionaires might keep a larger sum in high-yield savings accounts or money market accounts for better interest rates, while others might invest most of their wealth in assets like stocks, real estate, or business ventures, keeping only a minimal emergency fund in savings. The key takeaway is that while checking accounts are used for daily financial needs, savings accounts or other investment vehicles are where millionaires park their wealth for growth and security.

Read the Full MSN Article at:
[ https://www.msn.com/en-ph/money/savingandinvesting/how-much-money-millionaires-put-in-their-checking-accounts-vs-savings/ar-BB1gZj40 ]