Economic Crash - What Would Happen to My Winnings?

Reply #10

savagegoose — Sat, 18 May 2013 14:33:34 GMT

my thoughts is what would happen to annuities as theyr emeant to be muni bonds, if all the states are bankrupts? wont be much revenue from them. diversification, differnt properties in as many countries as possible. invest in local business. farms, retail , manufacture in ea country, get lawyers/ accountants and councel for ea place. spend a few months at ea house, make pals with neigbours. rent places out, or allow family to stay in empty places.

make ea country a place you could live i... [ More ]

Reply #9

Teddi — Sat, 18 May 2013 02:01:27 GMT

Great question, Garfield.

My personal view is that once you have any money tied up in anything: stocks, bonds, bank accounts...anything other than having it in your physical possession it cannot be crash-proofed.

If you keep it on hand, like in a safe, then it would be, uhm, safe but you won't make any money from it. If you invest it, you'll make money but it isn't crash proof. So it depends on what's more important to you.

Paypal taught me a lesson of how your money can be conf... [ More ]

Reply #8

thegee — Sat, 18 May 2013 00:29:04 GMT

investment is the key

money takes u places

not just properties but with minerals on it

global

Reply #7

Garfield — Sat, 18 May 2013 00:10:15 GMT

Thanks for the informative and interesting responses. Like most here at LP, I EXPECT to win something at some point. Just wanting to 'crash proof' a major winning at the first opportunity. A U.S. Citizen in Canada at the moment; will be home tomorrow

Reply #6

onlymoney — Sat, 11 May 2013 02:30:22 GMT

Three consecutive economic crashes, four years apart, would have a better chance of occuring than the thought of anyone expecting to win a JP in their lifetime.

The odds set the priorities for me. My worries of how to manage my winning a major JP is as worrisome as a rock from space hitting me on the head. Getting hit on the head with a rock from outerspace is not something I prepare for, unless the rock is 50 miles in diameter.

Reply #5

rdgrnr — Sat, 11 May 2013 00:57:18 GMT

What Would Happen to My Winnings?

They'll be gone as a wild goose in winter.

Reply #4

jackpotismine — Fri, 10 May 2013 12:31:50 GMT

Keep as little of it in the banks. Remember what happen to Cyprus.Soon it will happen to the U.S.A. Choose cash payment over long term payments. Buy a home with land. Buy gold, silver, platinum. Buy RIE(ready to eat meals), water.

Reply #3

sully16 — Fri, 10 May 2013 12:25:04 GMT

Invest in Lead, and lots of it.

Reply #2

billionaire2bee — Fri, 10 May 2013 12:15:39 GMT

I agree...also buy gold silver other precius metals and diamonds...if cash goes under gold will always be a great backup...Warren Buffett has vaults in London with nothing but gold and silver in them.....vaults people....vaults

Reply #1

BobP — Fri, 10 May 2013 11:30:25 GMT

The value of your money shrinks as it has been doing so since the first dollar was issued.

Depending on your age you might remember when a good slice of pizza with real cheese and olive oil was 15 cents, now a slice is $1.75 to $2.50 without the healthy olive oil and the cheese is made of water and fat. 1970 was the last year you could buy a new VW for under two grand, what's a new car go for now?

Spend your money while it is still worth something. Buy a reliable car, own a home with... [ More ]

Economic Crash - What Would Happen to My Winnings?

Garfield — Fri, 10 May 2013 09:24:47 GMT

I've been giving this lots of thought. I did a brief look around on LP and didn't see any related threads.

My questions:

1. If I won a major prize, how should I 'crash proof' it? Can a lottery prize be 'crash proofed'?

2. If I made no attempt to protect my winnings from a major economic crash then what is the likely scenario? Everything disappears?

In light of the recent, major multistate jackpots.

I see where Canada recently passed legislation apparently approving confiscat... [ More ]