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I was out walking and contemplating and while I never play the lotto, I just got a funny feeling that gave me a grin and I decided to get a ticket and when I saw the numbers, I knew right away that I was really going to win. I used to be one of those numbers freak that saw patterns in numbers and colors all day but I stopped doing that a couple years back but when I had seen the Lotto numbers that the quick pick gave me, I KNEW it was going to win.
The problem being, what do I do with that much money?
Let's say that after I pay taxes I will have 6,050,000 left over and I figure to pay debts of maybe 50 thousand and so I am left debt free, own the house, and no debt. I have an humble job, an humble car, and an humble house.
Obviously a Christian with that much blessing is going to do great charitable works, but how much of it should I take just for myself?
Is 100,000 too selfish?
There is a story of one of the disciples who went into a kingdom and converted a king, and the king saw him as the wisest person there ever was and looked on him like he was a Joseph who had come into Egypt and made co-ruler of the land.
This king like many kings was a very wealthy king and he decided to put all his treasury in the hands of this disciple and he bid the disciple to build him the greatest kingdom he could have because he trusted the disciple. Many months past and the king brought him up to the court to see how the building was coming and the king asked the disciple what he had been doing, and the disciple told the king that he had built him one of the greatest kingdoms any man could have ever built, but the disciple had taken the king's money and he fed the poor and helped the widows and he told the king that he had purchased the greatest kingdom for the king that the king could imagine, a kingdom in heaven by doing good works for the needy.
How much money should I keep for myself when I have been handed 6 million dollars?
Last edited by Hannibal Flavius; 04-19-2024 at 02:42 AM..
I was out walking and contemplating and while I never play the lotto, I just got a funny feeling that gave me a grin and I decided to get a ticket and when I saw the numbers, I knew right away that I was really going to win. I used to be one of those numbers freak that saw patterns in numbers and colors all day but I stopped doing that a couple years back but when I had seen the Lotto numbers that the quick pick gave me, I KNEW it was going to win.
The problem being, what do I do with that much money?
Let's say that after I pay taxes I will have 6,050,000 left over and I figure to pay debts of maybe 50 thousand and so I am left debt free, own the house, and no debt. I have an humble job, an humble car, and an humble house.
Obviously a Christian with that much blessing is going to do great charitable works, but how much of it should I take just for myself?
Is 100,000 too selfish?
There is a story of one of the disciples who went into a kingdom and converted a king, and the king saw him as the wisest person there ever was and looked on him like he was a Joseph who had come into Egypt and made co-ruler of the land.
This king like many kings was a very wealthy king and he decided to put all his treasury in the hands of this disciple and he bid the disciple to build him the greatest kingdom he could have because he trusted the disciple. Many months past and the king brought him up to the court to see how the building was coming and the king asked the disciple what he had been doing, and the disciple told the king that he had built him one of the greatest kingdoms any man could have ever built, but the disciple had taken the king's money and he fed the poor and helped the widows and he told the king that he had purchased the greatest kingdom for the king that the king could imagine, a kingdom in heaven by doing good works for the needy.
How much money should I keep for myself when I have been handed 6 million dollars?
Keep it all and put it into something that pays good interest, and give to charity out of some of the interest.
If you had 6 million dollars earning 5% interest, that would give you 300,000 dollars a year, every year. Even after taxes you can do a lot of charity giving that way, and still have plenty to live on without ever touching the principal.
Last edited by Michael Way; 09-08-2016 at 01:09 PM..
Reason: Changed principle to principal.
Great idea Mike! This is how a lot of charitable foundations operate. Someone bequeaths a sizeable estate to a/their foundation and then per the IRS you have to give away at least 5% of their assets each year, and the goal is that the foundation invests well enough that it can give to charity, in perpetuity, without requiring donations or outside support and may even be able to increase its giving over time if invested wisely.
I guess there is always the question of what is better -- 500,000 a year forever or 10 million dollars today -- but I can see a lot of value in potentially being able to have a very lasting impact philanthropically.
Well I don't know about all that money Hannibal, but I do know that all liars shall have their part in the Lake of Fire.
Revelation 21:8 But the fearful, and unbelieving, and the abominable, and murderers, and whoremongers, and sorcerers, and idolaters, and all liars, shall have their part in the lake which burneth with fire and brimstone: which is the second death.
And when it comes to money, what does it profit a man if he gains the whole world but loses his own soul?
Keep it all and put it into something that pays good interest, and give to charity out of some of the interest.
If you had 6 million dollars earning 5% interest, that would give you 300,000 dollars a year, every year. Even after taxes you can do a lot of charity giving that way, and still have plenty to live on without ever touching the principle.
Sounds like a wise plan but there would be the huge problem of still having that money and then you slowly make enemies of everyone around you, your whole family because they all want a piece of it and as long as you have it, contempt will abound and I am not a person who would give my children a great deal of money because I know what money does to people, for me to hand one of my kids 100,000 dollars would be irresponsible and an enmity would grow and grow as long as I have that money.
One time somebody wrote me a 5000 dollar check and I hadn't had that much money in so many decades. I literally freaked out and I had to get that money out of my hands like it was a fire burning inside of me. I found myself thinking,'' Wow, I have 5000 bucks, and If I do this, I can have ten thousand by next year.''
It was only for a couple hours that I thought this way but I hated myself for it, that I had fallen in a hole and couldn't seem to get out and so I gave that money away so I didn't have to think about it. To think of myself becoming a man with more money only leads to the desire of more money. The more money you have, the more important money becomes and the more you have, the more you want to obtain.
Sounds like a wise plan but there would be the huge problem of still having that money and then you slowly make enemies of everyone around you, your whole family because they all want a piece of it and as long as you have it, contempt will abound and I am not a person who would give my children a great deal of money because I know what money does to people, for me to hand one of my kids 100,000 dollars would be irresponsible and an enmity would grow and grow as long as I have that money.
You don't have to broadcast to everyone, or to anyone that you have a lot of money. Many people are millionaires but live in such a way that you would never know it. Only the charities to which you give would know that you are rich.
Well I don't know about all that money Hannibal, but I do know that all liars shall have their part in the Lake of Fire.
Revelation 21:8 But the fearful, and unbelieving, and the abominable, and murderers, and whoremongers, and sorcerers, and idolaters, and all liars, shall have their part in the lake which burneth with fire and brimstone: which is the second death.
And when it comes to money, what does it profit a man if he gains the whole world but loses his own soul?
Call your east coast brother, the real estate magnet who goes by Lord Somethingorother, and ask for investment tips.
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