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Started By
Message
re: Mega Millions Financial Advisors
Posted on 10/23/18 at 3:31 pm to MagnoliaStateTiger
Posted on 10/23/18 at 3:31 pm to MagnoliaStateTiger
Honestly I wouldn’t trust any advisors as I’m sure a plethora of them out there take advantage of the average person who comes into big money. We don’t know the “good” ones that major businessmen do.
Either ask a reputable wealthy businessman for a recommendation or take the annuity and manage it over time yourself.
Either ask a reputable wealthy businessman for a recommendation or take the annuity and manage it over time yourself.
0
Posted on 10/23/18 at 3:33 pm to DirtyMikeandtheBoys
Goldman is not near the top for ultra high net.
Posted on 10/23/18 at 3:33 pm to DirtyMikeandtheBoys
quote:
My uncle has had his money with Goldman Sachs for about 20 years, I think it avg about 13%/yr over that span.
Do that math on the lump sum of $900M.
I'm good with no risk with govt t bills. With 900 million I already have money for many generations. I'll take 3.5% all day and with 700 million in it and my family will be more than provided for.
Posted on 10/23/18 at 3:37 pm to MagnoliaStateTiger
quote:
If you win the lottery and chose to hire a financial advisor which one are you calling?
First, you find one of the top ten law firms in the country with an office near you, walk in and hire them. Then, you make that guy find a top 20 or a top 10 investment firm (NOT one of the ones who advertise wanting your 401k business) and contact them. You've got hundreds of millions of dollars to put under management.
Once they see that ninth figure, both the law firm and the investment banker WILL take your call. Hell, depending on how many tickets they sell, we might be talking a THIRD comma.
Or, just start an eTrade account. Who knows?
This post was edited on 10/23/18 at 3:45 pm
Posted on 10/23/18 at 3:44 pm to LSUintheNW
quote:
I'm good with no risk with govt t bills. With 900 million I already have money for many generations. I'll take 3.5% all day and with 700 million in it and my family will be more than provided for.
The $1.6B annuity guarantees 5% annually - in case you win!!!! Good Luck!
Posted on 10/23/18 at 3:44 pm to MagnoliaStateTiger
Private banking FTW.
Posted on 10/23/18 at 3:44 pm to TigerstuckinMS
quote:
Or, just start an eTrade account. Who knows?
Would be funny to see how a site like that would handle a quick $900 million transfer. Ha.
Posted on 10/23/18 at 3:46 pm to MagnoliaStateTiger
Keeping in the LSU family.. I am calling Shaq
Posted on 10/23/18 at 3:50 pm to Mingo Was His NameO
quote:
At that amount of wealth it's more than mutual funds bro
No joke but you can set up investments very conservatively that are simply enough. I'd take a third of the amount for long term investments that I cannot physically get the money out before maturation in case I do somehow blow all the money.
Hell, if you only got 3% return per year on $550M (40% of the lump sum after taxes), it would be $16.5M a year, every year for the rest of your life, kids life, etc.
Posted on 10/23/18 at 3:50 pm to Mingo Was His NameO
quote:
You've never heard of them. You don't hire some cat working at Edward Jones if you run into a billion dollars dude.
My buddy at Edward Jones would get 50 million or so to manage if I were to win.
He manages that now collectively, and he does pretty well.
But he isn't getting a billion.
There are certain ventures I would pursue, but I would stay fairly conservative.
With a billion, there is zero need for real risk.
Posted on 10/23/18 at 3:51 pm to MagnoliaStateTiger
Annuity. You can always call JG Wentworth if you need cash now.
Posted on 10/23/18 at 3:51 pm to MagnoliaStateTiger
J.G. Wentworth
Posted on 10/23/18 at 3:52 pm to rowbear1922
quote:
Hell, if you only got 3% return per year on $550M (40% of the lump sum after taxes), it would be $16.5M a year, every year for the rest of your life, kids life, etc.
And less than the annuity
quote:
No joke but you can set up investments very conservatively that are simply enough. I'd take a third of the amount for long term investments that I cannot physically get the money out before maturation in case I do somehow blow all the money
I'm not in private banking so I don't know exactly how they'd handle it, but I'm guessing at this wealth level it's more about PE than stocks and bonds.
Posted on 10/23/18 at 3:55 pm to Mingo Was His NameO
I would go to a lawyer first to hopefully reveal to the public that I won. A financial advisor can come later.
Posted on 10/23/18 at 3:55 pm to Mingo Was His NameO
quote:
And less than the annuity
I am not saying that is what you strive to get. I am just saying that is being the most conservative investing I've ever heard of and walking away with 8 figures every year forever.
Posted on 10/23/18 at 3:58 pm to Mingo Was His NameO
quote:
I'm guessing at this wealth level it's more about PE than stocks and bonds.
More than half the battle with anyone who wins this money is the discipline it would take to manage it appropriately.
This won't be a self-made ultra high net worth individual. They're going to go from a basic job to a near billionaire overnight. That's not exactly the typical client at the firms that cater to that kind of money. In practice it would be an interesting relationship.
Posted on 10/23/18 at 4:00 pm to Mingo Was His NameO
quote:
At that amount of wealth it's more than mutual funds bro
Doesn't have to be, earning just 2% annually on the after tax lump sum would be more than adequate.
Posted on 10/23/18 at 4:05 pm to EA6B
quote:
Doesn't have to be, earning just 2% annually on the after tax lump sum would be more than adequate
And, again, less than the annuity. If all youre going to do is buy a bunch of T Bonds you'd be better off not taking the lump sum at all.
Posted on 10/23/18 at 4:05 pm to EA6B
You don’t give all your money to one person. It would be well worth your time to split it between 2-4 people. More the better. You will get the same help from someone with $100 mil of your money as $500 mil.
I’d hire 2 lawyers too.
Small mistakes cost you $10 mil. A couple extra hours of billable time is worth it.
I’d hire 2 lawyers too.
Small mistakes cost you $10 mil. A couple extra hours of billable time is worth it.
Posted on 10/23/18 at 4:12 pm to MagnoliaStateTiger
Gregory Ricks?
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