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re: What would you do if you found $50 million: Serious Edition
Posted on 4/9/09 at 9:01 am to shel311
Posted on 4/9/09 at 9:01 am to shel311
This is the simplest question in the world.
Take the dufflebac to one of those mega-secure, you lock it places, not the local ministorage, but a place like the Cotton Exchange.
Then, depending on the lifestyle you want to lead, you start to wash the money into the 'system'.
1- Lead a middle class life? Just pay cash for everything, except your house.
2- Lead a larger life? Open a series of businesses and roll the money into them in small chunks - but you gotta get legit on taxes. Could roll in 1-2 million a year that way - probably more without too much problem.
It's not too hard to do.
ETA: Oh, and LEASE all the big stuff on a per-use basis. IE, don't go buy a yacht, lease one for the 3 week excursion you want to do. Don't go buy a private plane, lease one every time you need to fly somewhere.
ETA2: It's not cotton exchange, it's something else, but I have forgotten the name.
ETA3: I might not put the dufflebag at a place like the one I first mentioned. I might hide it 'in plain site' at a regular local ministorage with some other old junk stuff.
ETA4: As I continue to think this through, I would spread out $5M over 10 different generic ministorages in several different states. Even put $10-25M out of the country somewhere.
Take the dufflebac to one of those mega-secure, you lock it places, not the local ministorage, but a place like the Cotton Exchange.
Then, depending on the lifestyle you want to lead, you start to wash the money into the 'system'.
1- Lead a middle class life? Just pay cash for everything, except your house.
2- Lead a larger life? Open a series of businesses and roll the money into them in small chunks - but you gotta get legit on taxes. Could roll in 1-2 million a year that way - probably more without too much problem.
It's not too hard to do.
ETA: Oh, and LEASE all the big stuff on a per-use basis. IE, don't go buy a yacht, lease one for the 3 week excursion you want to do. Don't go buy a private plane, lease one every time you need to fly somewhere.
ETA2: It's not cotton exchange, it's something else, but I have forgotten the name.
ETA3: I might not put the dufflebag at a place like the one I first mentioned. I might hide it 'in plain site' at a regular local ministorage with some other old junk stuff.
ETA4: As I continue to think this through, I would spread out $5M over 10 different generic ministorages in several different states. Even put $10-25M out of the country somewhere.
This post was edited on 4/9/09 at 9:14 am
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