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Does this belong on the frugal forum? Probably change phone numbers and Email addresses. Set a fixed budget for charity and announce I will not lend money nor invest in anyones business.
Does this belong on the frugal forum? Probably change phone numbers and Email addresses. Set a fixed budget for charity and announce I will not lend money nor invest in anyones business.
With 50 million you dont have to "lend" money to anyone. One would think that is enough to give to the important people in your life. Change phone and email? I agree to a point but not living like a hermit to avoiding sharing. Its 50 million dollars, thats alot of charitable contributions and frivoulous spending and still enough to give to those that matter.
Many lottery winners go broke, largely through loans to friends or investing in filing businesses. That is why I would steer clear. And changing email addresses, the charities and financial advisors will never stop contacting you.
Let's assume it's a sizable sum of $50 million, and you can remain anonymous so that not every crook in the world would bang your door down asking for money.
1. Put a half in mutual funds and have it spread out between bonds and stocks.
2. Help my parents out.
3. Give a big amount to my closest friends with the condition they never speak to anybody about where the money is from.
4. Buy the car I want - I can afford it now but try to delay the purchase.
5. Quit my current job and focus on my side business.
6. Set a budget and travel around the world for a year just for the hell of it.
7. Work on my site business and make it a success.
I would be able to leave an unstable and miserable living situation and afford an apartment at market rent (around $700-$800 a month). Of course, if I won lotto I would buy something, probably on the water. A little beach house.
Many lottery winners go broke, largely through loans to friends or investing in filing businesses. That is why I would steer clear. And changing email addresses, the charities and financial advisors will never stop contacting you.
I think it's largely because most lottery players are financial morons, which is why they heavily invest in the lottery to begin with.
I think it's largely because most lottery players are financial morons, which is why they heavily invest in the lottery to begin with.
While I would not say folks who buy lotto tickets are financial morons, I am often perplexed how people can go through that much cash and then be broke again. I can sqeeze a penny until it bleeds. I don't make much money, ergo I am "1brokegirl", but I try to be frugal with what I do have. Even if I just won a few grand, it would last me a long time.
Pay off family and certain friends mortgages/bills
Purchase my land for my dream house and dream car garage (20 cars or so)
Purchase yacht
Purchase RV for USA travel
World travel
Donate heavily to America's economy
Donate to animal chairities
Open animal sanctuary
I think it's largely because most lottery players are financial morons, which is why they heavily invest in the lottery to begin with.
Well, there is a reason that the lottery is frequently referred to as, "a tax on the stupid."
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