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re: If you hit the $900 million jackpot, would you put the lump sum in VTSAX?
Posted on 10/17/18 at 5:37 pm to Phat Phil
Posted on 10/17/18 at 5:37 pm to Phat Phil
There was a very inciteful post on reddit a few years back that goes into detail on this very topic. It’s a few posts down in this thread. **Warning, it is a wall of text
LINK
LINK
1
Posted on 10/17/18 at 5:40 pm to offshoretrash
quote:
I'd buy lots of land, own businesses like McDonalds, car dealerships, etc... Invest a 100mil and probably spend 50mil on personal stuff and family.
Why do you want to deal with all of that BS if you had that kind of wealth. Owning a bunch of businesses makes little sense.
Posted on 10/17/18 at 5:42 pm to Phat Phil
Different take all together… I’m going to pass on the cash payout cutting the benefit in half. I’ll take the 3.5 million per month for the next 20 years and get the full 900 mill payout.I would probably give away $3 million per month to charities of my choice. Seems like a nice way to spend the next 20 years… Not to mention that I can totally go full out boats and ho’s on $500,000 a month. Bad things tend to happen to those with $500 million in the bank..... especially lottery winners. Everybody’s looking to get it… Can’t trust anyone and if the market takes a shite you could lose most or all of it. Just one man’s opinion… 
This post was edited on 10/17/18 at 5:52 pm
Posted on 10/17/18 at 5:44 pm to Thib-a-doe Tiger
quote:
We can grow the strippers
Damn so you’re talking about a game of thrones set up where the guy would frick his daughters to make more daughters that he could then also frick?
Absolutely gross man
Posted on 10/17/18 at 5:46 pm to Phat Phil
$900 million is around $500 million lump sum.
That about $310 million after taxes.
Would spend about $60 million on property and shite.
Gift $25 million to each of my kids
$1 million to each of my siblings (and inlaws).
Invest the rest in equities, bonds and at least $15 million in physical gold.
That about $310 million after taxes.
Would spend about $60 million on property and shite.
Gift $25 million to each of my kids
$1 million to each of my siblings (and inlaws).
Invest the rest in equities, bonds and at least $15 million in physical gold.
Posted on 10/17/18 at 5:59 pm to StealthCalais11
quote:
StealthCalais11
Awesome read. I agree with most of it. I would personally hire two law firms. It's important enough that I want second opinions on how everything gets drawn up.
Ideally, you win in a state where you don't have to go public. It makes everything much easier.
Otherwise, I think this would be a fascinating thing to work through. The most challenging part is not telling anyone about it which would burn a hole in you. The law firm you retain is helpful here though because you can easily afford to talk their ear off to get it out your system
Posted on 10/17/18 at 6:04 pm to Phat Phil
Buy a huge house, stock it with fun shite to do, and diversify my investments.
Manage my wealth from home and only leave to travel.
I would be tempted to get into some venture capitalism. I think the next big thing is advanced battery tech.
Manage my wealth from home and only leave to travel.
I would be tempted to get into some venture capitalism. I think the next big thing is advanced battery tech.
Posted on 10/17/18 at 6:04 pm to TennesseeFan25
Buy a nice boat for tailgating at Vols games and send your private jet to pick me up for games. We'll call it even.
Posted on 10/17/18 at 6:09 pm to TennesseeFan25
quote:
frick.... that... People who have no cares about your personal interests with complete oversight of your money, no risk, only benefit to swindle you, and you none the wiser? I can't think of a quicker way to go broke.
You realize people with this kind of self made worth use wealth advisors, right?
If they were as bad as you say, the people with 9 digit net worths wouldn't keep using them.
Posted on 10/17/18 at 6:09 pm to Phat Phil
Always lump sum bc ill end up dying of an overdose or heart failure long before I get paid out the full amount otherwise
Posted on 10/17/18 at 6:10 pm to lynxcat
Hire managers to deal with that. You are likely making so much margin you can still make big bucks.
I would want to put my money to work. Why leave $200 million stashed in a bank account when my grandchildren will already be set for life.
I would want to put my money to work. Why leave $200 million stashed in a bank account when my grandchildren will already be set for life.
Posted on 10/17/18 at 6:15 pm to slackster
quote:
You realize people with this kind of self made worth use wealth advisors, right? If they were as bad as you say, the people with 9 digit net worths wouldn't keep using them.
You mean like the ones that let Madoff or Sanford manage their money?
Posted on 10/17/18 at 6:21 pm to EA6B
quote:
You mean like the ones that let Madoff or Sanford manage their money?
It's pretty easy to avoid a ponzi scheme.
Seriously though, most of the ideas in here are far more costly than just using an advisor of some sort.
Posted on 10/17/18 at 6:21 pm to jcaz
I would hire tax experts and lawyers as needed (specialists). I really don’t need a fund manager because I’m confident in being able to manage that independently.
At most, I’d have a financial advisor on retainer but they would never see a percent of AUM relationship. Even 0.25% financial advisor fee on $500M is north of $1M annually. I could easily get a FA on retainer for $100K annually to answer questions as required.
At most, I’d have a financial advisor on retainer but they would never see a percent of AUM relationship. Even 0.25% financial advisor fee on $500M is north of $1M annually. I could easily get a FA on retainer for $100K annually to answer questions as required.
Posted on 10/17/18 at 6:22 pm to Phat Phil
I would be looking for ROI "return of investment", not "return on investment". Laddered CDs up to the FDIC limit in many different banks paying 2.5% would be fine. $8.5 million a year on the after tax $350 million, myself, and all my extended family could live large for our lifetime's and those of our next few generations if they continued to be sensible with more.
Posted on 10/17/18 at 6:24 pm to lynxcat
quote:
At most, I’d have a financial advisor on retainer but they would never see a percent of AUM relationship. Even 0.25% financial advisor fee on $500M is north of $1M annually. I could easily get a FA on retainer for $100K annually to answer questions as required.
That's reasonable.
The other side of the coin is the fact that you're now worth $500M. Paying someone 25 basis points to not have to worry about it on your own time would be tempting.
Posted on 10/17/18 at 6:24 pm to lynxcat
Maybe the most complex piece outside of the creation of trusts/legal protection, is the actual purchase of stock market assets.
I don’t suspect that you can just open a brokerage account with Schwab with $500M and make a limit order for $400M in SCHB and $100M in SCHF. I guess you would Dollar cost average it over longer periods of time to split up your limit orders across time.
I don’t suspect that you can just open a brokerage account with Schwab with $500M and make a limit order for $400M in SCHB and $100M in SCHF. I guess you would Dollar cost average it over longer periods of time to split up your limit orders across time.
Posted on 10/17/18 at 6:27 pm to Phat Phil
Start my own bank or life insurance company
Posted on 10/17/18 at 6:27 pm to EA6B
quote:
would be looking for ROI "return of investment", not "return on investment". Laddered CDs up to the FDIC limit in many different banks paying 2.5% would be fine.
I get that at first, but even a 70/30 portfolio is $105MM in fixed income.
That's plenty of return of investment for me. I'd look for tax sensitive options, which is where an advisor firm could help.
Posted on 10/17/18 at 6:28 pm to Phat Phil
I'd put it all in my checking account. Then, I'd go to an ATM, check my balance, and leave the receipt in the slot. I'd also buy an ultralight.
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