How to Handle Banking with Large Sums of Money

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It is lovely to come into a large sum of money, especially when such financial fortune is unexpected, but you may then have the problem of knowing what to do with it all. Should you enjoy yourself and have a massive shopping spree, or should you plan for the future and invest in the stock market? While the idea of a huge shopping spree may be attractive, most people understand the need to make the most of a large sum of money by involving a bank. 

Spend a little


Perhaps the most obvious thing to do with your money is to first attack any debts you may have, or make a significant contribution towards regular financial obligations, such as your mortgage. Spending money in this way will give you a clearer idea of how much money you have to play with for investment purposes. The safest investment plan is one that spreads risk, so you could also use some of your money to top up any saving schemes you may have. After these immediate needs, you should be looking at ways that your money can make more money, and which can be left alone for a minimum of five years to do so. 

Involving a bank


If you are not used to dealing with big sums of money, it is probably best to consult a financial advisor, who will be able to advise you on the best options available to you. You can solicit the help of an independent financial advisor or, perhaps a better choice, use one of your bank’s financial advisors. Not only are you saved the trouble of finding a reputable independent financial advisor, but also the bank’s advisor will almost certainly be able to offer you banking incentives, such as incurring lower fees for transactions or free checking for investment accounts you hold with them. The only caveat to this arrangement is that you may need to invest a minimum sum. Many private, independent banks, such as ABLV Bank Luxembourg, offer a high level of financial and advisory services, and are particularly attuned to the needs of their asset-rich clients, providing a unique and tailored banking experience that focuses on preserving the client’s capital while seeking means of increasing it.

Many banks are also able to help with the tax aspects of your money, which can be significant and stressful where high sums are concerned.



The first thing to be aware of when it comes to investing your money is that there is always an element of risk involved. Investments are not savings, so while you may have decided to open a savings account with your bank to take advantage of the high interest rate, your investment account is pretty much locked down in order to deliver a higher return; and be aware that investments can go down as well as up.

Stocks and shares


A popular form of investment is stocks and shares. In most cases, your bank can act as your broker, so all you need to do is invest a capital sum and let them take care of the rest if and when you decide to sell or buy more shares.

Investment trusts


You could also enter into a grouped investment where your capital is pooled with a number of other investors to buy shares in several different companies. This option lets you spread your risk and is very cost-effective in terms of fees.

Make your money work hard for you by investing it wisely with a bank whose reputation is second to none and that can take all the trials and tribulations out of savings and investments.

Photo courtesy of: Maklay62

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Kayla is a mid-20s single girl living in the Midwest, USA. She is focused on paying off her consumer and student loans, while simplifying her life and closet. You can join her on her journey at or follow her on Twitter @shoeaholicnomor.

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