I'd use it set up a compound in the country, dedicate myself to farming and self-subsistence, and put whatever is left over into index funds.
How would you handle a huge lottery win? Would you be happy? Would you go broke?
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Thread: How would you handle a huge lottery win? Would you be happy? Would you go broke?
The ATF would like to know your location.
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Immediately none of my friends or family would have car/mortgage/student debt. After that I would hire somebody to handle my money, and probably start a brewpub that makes break-even revenue. I'd have to hire a 'bad guy' manager to run the actual business, since labor would be earning much better than the market rate. I'd just be "that guy" who hangs out at the bar all the time.
Stifler's Mom
I've got some Scotch
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I earn enough money to live a happy life so I am not sure if this would really benefit me currently.
Would probably save for future things and don't tell anybody.
Maybe buy a nice flat, but that's it.
Would probably save for future things and don't tell anybody.
Maybe buy a nice flat, but that's it.
All expenses paid flights to my mansion. It would be a fun, wild, scary weekend. Values, would be tested. Limits, challenged.
DonDonDonPata
Bridge Burn Man
I'd lawyer up, dump it into a trust fund, hire a financial controller, etc as quickly as possible.
If I won BIG (like over $100million) you would be reading about me in the news. I would buy land (preferably a pacific island) and quickly set up a pariah state and establish treaties with non-aligned nations. Would also make the island a high-end vacation spot with all the Vices (gambling, drugs and prostitution). Imagine North Korea meets Las Vegas... with a beach. I would petition to join the UN so I can give a global speech at the general assembly each year.
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I would first go and get an Attorney and CPA to set up a trust to take a lump sum of the winnings anonymously.
I would then set up the trust to disperse money into a few various accounts.
1. Play money. If I win after taxes $50M, I would put $2M into an account to blow. You are going to need to do this, just to get it out of your system.
2. Trust accounts for loved ones to make sure the taxes are handled and they get some comfort and fall-back if they get in a tight spot. No more than $5M across one or multiple accounts depending on whom I am an angel towards.
3. Purchase whatever properties I think I need in whatever part of the world I can afford. I would offload no more than $20M into this as I need to consider future taxes and upkeep, this will be factored in with Trusts handling each property. I can only think of three domiciles I would want and some private land in rural, mountainous areas for hunting/camping/RV'ing (escape to relax areas of my own Kings reserve)
4. Put the $20M of the money in a couple of accounts to compound the interest and live off of with as a Salary, disbersed to me on a schedule to keep from blowing it all.
5. $3M left over, will more than likely go towards my Attorney and CPA for their services and hopefully to pay for said services for the rest of my life to account for my winnings and make sure I don't get taken or lose it all.
I have thought about this very scenario and it scales up or down based on any winnings I could get over $5M. If it is only $5M after taxes, it goes into a single account for compounding interest as leverage to my current income while I decide if I want to keep my job or take a more relaxed career as long as it has insurance, until I retire.
I would then set up the trust to disperse money into a few various accounts.
1. Play money. If I win after taxes $50M, I would put $2M into an account to blow. You are going to need to do this, just to get it out of your system.
2. Trust accounts for loved ones to make sure the taxes are handled and they get some comfort and fall-back if they get in a tight spot. No more than $5M across one or multiple accounts depending on whom I am an angel towards.
3. Purchase whatever properties I think I need in whatever part of the world I can afford. I would offload no more than $20M into this as I need to consider future taxes and upkeep, this will be factored in with Trusts handling each property. I can only think of three domiciles I would want and some private land in rural, mountainous areas for hunting/camping/RV'ing (escape to relax areas of my own Kings reserve)
4. Put the $20M of the money in a couple of accounts to compound the interest and live off of with as a Salary, disbersed to me on a schedule to keep from blowing it all.
5. $3M left over, will more than likely go towards my Attorney and CPA for their services and hopefully to pay for said services for the rest of my life to account for my winnings and make sure I don't get taken or lose it all.
I have thought about this very scenario and it scales up or down based on any winnings I could get over $5M. If it is only $5M after taxes, it goes into a single account for compounding interest as leverage to my current income while I decide if I want to keep my job or take a more relaxed career as long as it has insurance, until I retire.
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id blow it all on twitch streamers who cares the money aint mine anywats
I'd hire a limo driver and I would go to garage sales and find something that was handed down to the owners, and I would exclaim "This is a 1845 Vintage Barstool." I would then give them like 5 thousand dollars for it and watch them freak out.