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Old 11-29-2011, 04:05 PM
 
Location: Way up high
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well after taxes it ain't gonna be much either way.. So family first, my dream house and a couple of cars and travel
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Old 11-30-2011, 08:27 AM
 
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Quote:
Originally Posted by himain View Post
well after taxes it ain't gonna be much either way.. So family first, my dream house and a couple of cars and travel
What is the highest fed bracket 35%? Even with state taxes you're probably taking home 6 million on the low end, to me that sounds like "much"
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Old 12-02-2011, 09:51 PM
 
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Most people have no clue how much $20 million could do for them so I've done some casual math on this. After tax on $20 mil would leave about $12 mil, in which I could 'pay' myself $360 grand/year for the next 30 years assuming I would live that long. And that would provide a very, very comfortable lifestyle where I live. I wouldn't invest a dime of it.
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Old 12-12-2011, 05:36 PM
 
Location: Las Vegas
11,653 posts, read 21,225,050 times
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20 mil AFTER taxes. Now there's a worthy fantasy.

I would pay off the mortgages of 5 of my friends and my sister. That would be less than 1 mil.

Next, I would complete my house remodel. About 50K, max. I would hire it out, and not have to do it all myself.

I would buy a new car. My old one has over 200K on it now and it's time. 30K.

Another 50K would be earmarked for travel/vacations.

We would get all our dental work done, probably another 20K. And I could get my hernia fixed too. Probably 30K more.

Buy enough shares of NVEnergy that the dividends would pay my electric bill.

Set up a trust to pay for living expenses for a friend's special needs child. 1mil there.

2 mil to charity. And I get to pick the charities.

That leaves me with about 15mil. I would invest half of it here and put the other half in another country. I would probably also buy a modest home in that other country. The Cayman's might be a good choice.

I'd have a really nice rest of my life and I'd get to feel like Santa every day!
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Old 11-29-2011, 04:12 PM
 
Location: Las Flores, Orange County, CA
26,348 posts, read 75,124,230 times
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I wouldn't give a dime to a church.

I'd consult with some top of the line financial wealth management and wealth preservation advisers to invest and protect this money for my heirs. I'd probably be a little more conservative in my investments rather than my mostly growth portfolio I have now.

I don't think I'd buy much. I like were I live and I like my neighbors and I like my kids' schools. Maybe get a brand new pickup truck with the latest safety options. About 98% of the things that make me unhappy or challenge me (health, family relations) have nothing to do with money.

I don't think I'd quit my job but I would probably look for a similar job closer to home.
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Old 11-29-2011, 11:07 PM
 
Location: California
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First I'd make sure that I put enough money away to not worry about it for the rest of MY life. Then I'd give a lot of it to friends and family and buy new cars for me and my kids, nothing extravagant because I don't believe in having $$$ cars anyway. I might travel a bit.

I know I wouldn't throw money at my kids who are both in their early 20's, but I'd make sure they didn't have to worry about rent or car payment, etc. so they could concentrate on their jobs and maybe take a few risks career wise.

My day to day life would not be much different. I'd still be a bargain shopper because I think it's fun and I'd still post on CD...lol. I'd eat out more.
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Old 11-30-2011, 08:34 AM
 
Location: The Land of Reason
13,293 posts, read 8,890,073 times
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Quote:
Originally Posted by selhars View Post
OK Let's Dream a little
What would you do with a 10 or 20 million dollar AFTER TAX lottery win? or pick any amount your want...

First of all: Where would you put the bulk of whatever amount you'd invest? I'd want something SAFE, and settle for just minimal growth/gain.

I was talking with my brother and with cities now on shaky financial ground he says he wouldn't even do AAA muni bonds.

As for what I'd give to people:
10 MILL: - 5 million for myself, 1 mill each to three siblings, 2 mill family education fund to take care of nieces/nephews college from the growth on that principle, and 1 mill among various friends, 1 million tithe

20 MILL: 9 mill for me, 5 million split among 3 siblings, 2 mill tithe, 2 mill family education fund, 2 mill split among about 10-12 friends

If I only won 250-thousand before taxes that's about 125-thou after taxes, I couldn't near as generous: 75-thousand for me, 20-thousand tithe, 10-thou split among 3 siblings, 10-thousand split among 10 friends, 10-thousand to pay education costs for nieces and nephews.
Buy a Congressman or a Senator
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Old 11-30-2011, 01:48 PM
 
Location: St. Louis, MO
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Let's see. I would quite my job, that's for sure. Pay off the mortgage. I'd like to set up a couple of trusts/education funds for my sister and nephew. I'd really like to give a bit to the family, maybe along the lines of paying off their mortgages. I'd definitely donate to the charities I like, which are mostly all animal rescues. I'd really love to set up my own cat shelter/rescue, or else help fund expansions of existing ones so we could get more cats off the streets/out of kill shelters/into new homes, etc.
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Old 12-02-2011, 09:38 PM
 
6,424 posts, read 8,434,026 times
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Originally Posted by hodgemo2 View Post
I'd definitely donate to the charities I like, which are mostly all animal rescues. I'd really love to set up my own cat shelter/rescue, or else help fund expansions of existing ones so we could get more cats off the streets/out of kill shelters/into new homes, etc.

Me too! I volunteer for a couple of dog/cat rescues and for one of them, I'd buy a plot of land and build a sanctuary for the unadoptable animals, and buy them a vehicle of some sort to transport animals and supplies to different events. For the other rescue, just make a monthly generous donation. Also, would love to create another organization to educate the communities about pet overpopulation.

For myself, just pay off my condo, buy a comfy home (comfy, not extravagant), buy a comfy car, and just live nicely, since i'll be so busy with rescue and the new organization. I'd buy a home for my sister who has MS.
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Old 11-30-2011, 01:52 PM
 
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With 10 million I would quit my job, pay off and keep my home. I would keep 5 million and donate the rest to the "Reflex Sympathetic Dystrophy" research Center in Tampa Florida.
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