Jackpot winner resources: Who would you use? (CPA, Tax, Attorney, etc)

Reply #10

Preppy — Sat, 31 Mar 2007 04:07:35 GMT

You should be aware that many firms have account minimums when it comes to estate planning.

In 2003, the minimum balance to open an account at Goldman was $2 million. I believe that $2 million allowed an individual to access Goldman s research only and you had to do all the work yourself. If you want to talk to an advisor ( white glove treatment ) the minimum balance was a lot higher.

In 2003, the minimum balance to open an account at Morgan Stanley was $10 million.

Reply #9

Coin Toss — Wed, 21 Mar 2007 04:08:51 GMT

One time a lottery winner called in to one of those AM radio finanacial programs. The host asked the guy how much he had won, and he said he had hit the Missouri lottery for about $2.3 million net.

The guy with the financial advice program told the guy, I should be calling you

Reply #8

KY Floyd — Tue, 20 Mar 2007 20:48:39 GMT

That is funny, but a number of very wealthy people have hired big name firms and done far worse. For all we know Jack's money management skills may be perfectly good. Plenty of his other decisions have obviously been bad (and plenty of people could benefit by learning from those lessons), but we don't really know about the money management. He claims to be broke, but maybe he really managed his money right into someplace hard to find. Making your money hard to find, and safe from anyone who migh... [ More ]

Reply #7

Stack47 — Tue, 20 Mar 2007 01:26:57 GMT

LMAO

Reply #6

Stack47 — Tue, 20 Mar 2007 01:26:30 GMT

http://www.megamillions.com/aboutus/press_release_detail.asp?artid=1869

The Messners have asked that inquiries of them please be made to their attorney, Richard M. King, Jr., Esquire of Linwood.

Reply #5

Rick G — Mon, 19 Mar 2007 22:49:49 GMT

I'd hire Jack Whittaker for money management consultation.

Reply #4

Coin Toss — Mon, 19 Mar 2007 22:27:46 GMT

MegaWinner

Another example of the wealthy mindset (the truly wealty) - when they talk about a million dollar life policy they have put the million up front.

Just more food for thought here.

Reply #3

KY Floyd — Mon, 19 Mar 2007 07:37:54 GMT

what kind of health insurance do rich people have? I know they just don't pay out of pocket.

Actually, being self-insured might make sense if you're rich. The insurance companies make huge profits because they spend less per insured than they charge. In essence, insurance is just like a lottery. Most people will spend more than they collect, and a few will collect more than they spend. Because of that, a good rule of thumb is to not buy insurance for losses you can afford without undue hard... [ More ]

Reply #2

MegaWinner — Sun, 18 Mar 2007 06:18:58 GMT

Thanks, gonna read this asap.

Reply #1

Coin Toss — Sun, 18 Mar 2007 06:10:06 GMT

I don''t know exactly what wealthy people do regarding health insurance but i know they have a totally different mindset.

Think about this, poor people plan for the weekend and rich people plan for their great-grandchildren.

I know they have really different things available to them, also. There's a credit card that's only available to the upper crust , American Express Black or something- they pay a mere $500.00 a month for the privilege of having the card, but this particular card... [ More ]

Jackpot winner resources: Who would you use? (CPA, Tax, Attorney, etc)

MegaWinner — Sun, 18 Mar 2007 05:27:08 GMT

Lets say you win a large jackpot (good luck to you all!), who sould you solicit as a CPA, Tax Attorney, Certified Financial Planner, etc.

For me, as far as Financial Planning, I was thinking about using either Solomin Smith Barney or Goldman Sachs; maybe even Morgan Stanley Dean Witter. I don't know of any high profile Tax Attorney's or CPA's but I figure one of those companies I just mentioned would point me in the right direction.

Also, I have always wondered this, what kind of health i... [ More ]