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Old 12-31-2011, 04:41 AM
 
1,256 posts, read 3,180,924 times
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1. Pay off all loans and debt.

2. Retire.

3. Invest in safe investments, bonds.

4. Buy a mcdonalds for income.

5. Buy my dream home.

6. Buy 2 dream cars. A lamborghini aventador and a ferrari 458.

7. Buy a RG Rolex Daytona.

8. Help the family.
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Old 12-31-2011, 10:49 AM
 
Location: Victoria TX
42,668 posts, read 71,590,043 times
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I'd put it in the bank with the rest of my money. I know some people I could help get over a hump.

I've already been retired for 20 years, and I haven't had an outstanding debt at the end of any month in about 40 years. I've been free for many years to live wherever I please, and that's where I am.
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Old 12-31-2011, 10:52 AM
 
Location: Chicago
38,691 posts, read 86,838,061 times
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I'd pay off my school loans, and then I wouldn't have much left.
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Old 01-02-2012, 11:30 AM
 
Location: The Internet
355 posts, read 732,758 times
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Assuming 20 million after taxes...

I would put the entire amount in a jumbo CD or annuity and let it accumulate interest for one year. Assuming a 1.5% yield, I would earn $300,000 on that first year on interest alone. I would then proceed to live off the interest alone for every single year after that, never touching that original 20 million. $300k a year isn't a bad lifestyle, IMO.

After I die, a 10 year freeze on the 20 million would occur allowing it enough time to accumulate more than $3 million in interest (at current rates, in the future they could be much higher). Assuming I have 2 kids, this money would then be split between the two, so $1.5 million each. The 20 million would then be locked for an additional 20 years. The interest money earned from this would go to the grand kids. This process would repeat until finally, after a few generations, inflation catches up and makes the interest earned not worth it.

Of course, I would also consider moving to a tax friendly state like Florida or New Hampshire. Strategic real estate acquisitions would also be considered.
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Old 01-14-2012, 08:00 PM
 
Location: NYC
16 posts, read 35,382 times
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If take home were 20M:

I would take a two week long introspective trip to Bora Bora to compile the names of people that would benefit from my good fortune and spend 2M on such people.
Pamper self (500K)
Invest in real estate for rentals (4M)
Buy myself a house in Long Island (2M)
Start a haulage business in another country (2M)
Invest in a studio (I always wanted to be a songwriter but I'm in the financial industry) (200K)
Start a charity that would benefit young graduates in a country in West Africa (1M)
Invest in stocks, bonds, mutual funds (3M)
Learn how to fly aircrafts
Keep the rest in CDs and live off the income from my haulage and real estate businesses for a year or two then re-evaluate after two years to see if things are going as I planned.

Then I would travel, write songs and just live!
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Old 01-15-2012, 05:51 AM
 
20,793 posts, read 52,393,704 times
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First, I wouldn't "give" money to anyone, the gift taxes would eat up too much of that "gift". I would set up a trust for the benefit of..... along with other legal ways to support various family members.

We have most of this set up in our will but we would establish some scholarships for college students

Much would go to our church

If we had a higher payout than 20 million we would build a new school for our former church

We would also donate much to various charities

We would travel, a lot.

All of this after I changed our phone numbers to unlisted/unsearchable numbers
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Old 01-15-2012, 07:34 AM
 
297 posts, read 624,265 times
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I would try to keep it a secret that I won.

If I couldn't keep it a secret, I would move to where no one knew I had that much money. And I would continue to live a simple life around lower income people, the best and most friendly people if you ask me. (You would NOT see me at any country clubs!)

Then I would make "anonymous" donations via a lawyer or whatever to people who needed it.

And drive around in my used car as always.
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Old 01-15-2012, 08:37 AM
 
20,793 posts, read 52,393,704 times
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Quote:
Originally Posted by yellow4yield View Post
I would try to keep it a secret that I won.

If I couldn't keep it a secret, I would move to where no one knew I had that much money. And I would continue to live a simple life around lower income people, the best and most friendly people if you ask me. (You would NOT see me at any country clubs!)

Then I would make "anonymous" donations via a lawyer or whatever to people who needed it.

And drive around in my used car as always.
I doubt very much that you would not change your life at all. Why not just give all your money away then?
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Old 01-15-2012, 10:56 AM
 
Location: Central CT, sometimes NH.
3,256 posts, read 4,910,950 times
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Retire somewhere warmer for the winter months. Explore new hobbies. Be careful with it and not let it run my life.

I wouldn't buy an extravagant home, car, or a bunch of toys.
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Old 01-15-2012, 11:49 AM
 
297 posts, read 624,265 times
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Quote:
Originally Posted by golfgal View Post
I doubt very much that you would not change your life at all. Why not just give all your money away then?
Actually I inherited a bit of money and did not change any. I still have my 1995 used car which I bought for $300.

So far as giving it all away, most people I know don't know how to live within their means and would go out and blow it all in the first year. For those people, I help them a little here and there. I don't think it would be wise to give them a lot of money all at once.

The only difference, if I had a TON of money, would be that I could help more people.

FYI - I know many people who are quite poor and will give you the shirt off their back if you need help. These are the people who I would help...
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