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Old 11-29-2011, 01:01 PM
 
5,435 posts, read 6,064,578 times
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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.
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Old 11-29-2011, 01:03 PM
 
Location: Charlotte, NC
7,658 posts, read 7,261,366 times
Reputation: 3242
Two chicks at the same time, man.
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Old 11-29-2011, 01:17 PM
 
Location: The Triad (NC)
25,610 posts, read 55,293,287 times
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Quote:
Originally Posted by hooligan View Post
Two chicks at the same time, man.
Twins.
and maybe their Mom too.
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Old 11-29-2011, 01:40 PM
 
Location: Raleigh NC
1,344 posts, read 2,515,103 times
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ok, gross.

Anyway to answer the OP, I would:

1. Give everyone I love a million each. Mom and Dad, sister and family, husband's mom and dad, husband's two sisters. That takes care of 5 mil.

2. Buy a beautiful beach house. Another 3-4 mil gone.

3. Buy a beautiful mountain lodge. Byebye 4 mil again.

4. Buy my husband a brand new Ferrari, a brand new Mustang, and a brand new Corvette. Figure that's another million or so.

5. Let's see, what's left? Oh yea, 6 mil. (I'm going with the 20 mil payout thankyouverymuch) With the rest I would give 1 million to charities that I believe are really doing some good, I'd have to do some major research on that one. The last 5 million goes in a bank of some sort (do millionaires really put millions in the 'bank'?) to be used to travel extensively, and then travel some more. Never work again and just enjoy living.

So there! Electronic vision board, do your magic!
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Old 11-29-2011, 01:51 PM
 
7 posts, read 22,803 times
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If I won $20 million I would give the first 2.5 million to my church. Then I would set 1 mil. aside for my kids college education. Next, I would spend 2 mil. on a long vacation for me and a friend or two. After that I would buy a big house for 4 mil. and a second smaller house for 2 mil. then I would spend 2.5 mil. decorating them. I would get one house on each coast of the USA. I would buy a few cars 2 mil. so that I didnít have to get my own gas. I would then take the rest of the money and get a butler and maid to take care of all the cleaning and chores and stuff. I will have 5 mil. left so I would live extravagantly until the money ran out then I would sell my houses and get a job and you would never know I had won and lost $20 million.


MoneyMogul
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Old 11-29-2011, 01:55 PM
 
274 posts, read 484,033 times
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I would not owe anything, for anything, and then I would figure out the rest. Get back to the days when I only had a phone and electric bill to pay.
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Old 11-29-2011, 02:27 PM
 
Location: Aloverton
6,564 posts, read 11,622,338 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'd get it offshore to a country that doesn't have an extradition treaty with the US, having paid all my taxes, buy citizenship, renounce my US citizenship and pay whatever annual bribe the new country required in order to be left in peace. Chances are it would be less than what I'd have to pay in the US, and I'd actually get something for it.
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Old 11-29-2011, 03:51 PM
 
28,906 posts, read 44,246,665 times
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$20 million?

$2 million. Charitable contribution
$2 million. Distribute in equal portions among our parents and siblings.
$850,000. A tricked out catamaran
$1,000,000. A nice home.
$1,000,000. A lake home and beach condo.
$200,000. Assorted travel.

There. $7,050,000 blown. The rest in investments, chiefly commercial property and venture capital. No equities for a while.
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Old 11-29-2011, 04:02 PM
 
Location: Chicago
1,948 posts, read 4,229,446 times
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Play 10-20 hands of blackjack
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Old 11-29-2011, 04:05 PM
 
Location: Way up high
14,062 posts, read 19,700,061 times
Reputation: 14274
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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