Safely Investing Your Winnings...Or Not

Reply #28

Teddi — Sun, 08 Feb 2015 14:22:50 GMT

LOL. Well there you go. The mattress is an option.

Reply #27

KY Floyd — Sun, 08 Feb 2015 08:32:05 GMT

If the bills were all perfectly clean, and unwrapped I know almost exactly how much it would be. 2863 pounds.

It would take up just over 50 cubic feet. Coincidentally, that's almost exactly how much you'd need to fill a king size mattress that's 12 inches thick.

Reply #26

Teddi — Sun, 08 Feb 2015 01:04:59 GMT

THANK YOU!!! Glad I'm not the only one who felt Oprah was being both helpful and complimentary. I kept waiting for the freakin mean . But Toni insisted that Oprah was harping on/mocking the fact that she had Gucci flatware. Had I been the interviewer I would have actually been mean, because I don't know how anyone can buy Gucci flatware and have no idea if they can actually afford it.

When I watched it the first time, I thought thank the Lord Toni became a singer, otherwise she would have bee... [ More ]

Reply #25

jerryb*49 — Sun, 08 Feb 2015 01:02:34 GMT

I would basically invest in index funds like Vanguard, Fidelity, T Rowe Price, including some gold, TIPSs, and real estate funds. Also, I would probably try to find someone to protect my family's physical and indentity security. There's way too many Robin Hoods out there.

Reply #24

Teddi — Sun, 08 Feb 2015 00:54:24 GMT

I would imagine that it would be satisfying to do some research, make investments based on your research and then see a good return on investment, especially if you can outperform the big bow, which has been known to happen.

Reply #23

nist7seven — Sat, 07 Feb 2015 23:44:36 GMT

Expert advice is crucial but you want to make sure you get a fiduciary....not get swindled by a Madoff or the tons of wealth managers out there who are only looking to transfer your money into their accounts.

I'm already fairly good with my current financial situation so I'd simply need expert tax help and then I'll just max out my 401k, Roth IRA (will need to do the backdoor method) and then just ramp up my index fund investment and add in US treasuries. Simple, basic, for the long-hau... [ More ]

Reply #22

Artist77 — Sat, 07 Feb 2015 21:54:57 GMT

lol I just watched it. Oprah was not even remotely mean to her and invited her back for a new album, etc. In fact, I expected more of a lecture from Oprah and she did not even do that much. And Toni has a college education to be a school teacher. She has no excuses. People with zero money sense rarely learn a lesson.

So anyone who wins the PB jackpot tonight, better expect to have a part time job overseeing their money. Look at all the phony statements Madoff sent to his clients. You always w... [ More ]

Reply #21

Drenick1 — Sat, 07 Feb 2015 21:11:46 GMT

After spending $5 million on several homes, jewelry, clothing, shoes and motorized toys we would put aside $30 million in cash, long term CD's and physical gold and silver. The rest would be invested in real estate, stocks and bonds with the guidance of experts in those appropriate fields. We want to grow our wealth and will absorb a little risk in order to do so.

I realize many here would think that is foolish but my husband and I currently enjoy watching our investments grow. We are not exp... [ More ]

Reply #20

Teddi — Sat, 07 Feb 2015 19:26:37 GMT

It's on YouTube. That's where I watched that episode. After I heard the hoopla that Toni Braxton had said Oprah was freakin' mean to her during an interview, I had to track it down. I've never heard a talk show host give such sage and important financial advice and for Toni to say she was mean is when I knew she was an idiot. Then I simply waited to hear about her going broke again. Didn't take long.

Reply #19

sully16 — Sat, 07 Feb 2015 19:15:34 GMT

Grover Cleveland is on the $1000 dollar bill, even though the bill is no longer printed, it is still legal tender.

Reply #18

Artist77 — Sat, 07 Feb 2015 18:58:28 GMT

I agree Teddi! I missed the one with Toni B. I switched tax accountants last year when mine retired and the new guy (who is good) offered to just let me drop off my paperwork and he would have everything ready to sign. I am like, noooo. I will walk through every line and every number on those returns with you in person. lol.

Now I do subtotal everything before hand but I don't keep up on small business rules and changes, etc. I also like to ask questions. Would it save me time to just drop o... [ More ]

Reply #17

Raven62 — Sat, 07 Feb 2015 18:25:45 GMT

I knew that! Just used it as an example if their was a $1000 Bill...

FYI: One of the Questions On: Who Wants to be a Millionaire brought out the Fact that their in No $1000 Bill

Reply #16

Teddi — Sat, 07 Feb 2015 18:25:32 GMT

Oprah is a freaking genius. I remember her saying this while trying to give Toni Braxton financial advice after Toni's 1st bankruptcy and Toni went on a whining campaign about how mean Oprah was to her.

Oprah told her never let anyone else pay your bills, sign all your own checks and always know exactly how much money you have coming in before you spend. Toni said she was too busy to sign her checks and monitor what was going in and out and Oprah said, well I'm busy too and you have to make t... [ More ]

Reply #15

Teddi — Sat, 07 Feb 2015 18:07:51 GMT

Um, I don't want this to come across as mean, and perhaps I'm simply misunderstanding the reason you tossed Goldman Sachs into the discussion, but the fact is that without taxpayer money, they'd have joined the realm of Lehman Brothers. Only by a wink and a prayer are they still around, and implying (my take on the comment) that wealth management teams in firms like these have checks and balances and watch each other is like telling me the chickens are safe because the foxes are watching the coo... [ More ]

Reply #14

PrinceRene — Sat, 07 Feb 2015 17:20:49 GMT

Are you from PR? There is zero capital gains tax in PR, right

Reply #13

nina09 — Sat, 07 Feb 2015 16:55:56 GMT

That's why I recommend getting a financial planner , heck you will have enough money to have more than one.

I study accounting and I have worked as an auditor and even was interviewed to work for Goldman Sachs and if I ever won a big amount of money I'm getting professional help.

I will spend my time learning more than I already know about finance so that I can ask more questions, because a single transaction can have huge tax consequences and If you a wealth manager they have am entire te... [ More ]

Reply #12

pickone4me — Sat, 07 Feb 2015 16:45:45 GMT

If you want to invest in something I would recommend actual gold and silver.

Reply #11

Stack47 — Sat, 07 Feb 2015 16:45:40 GMT

If they are not now investing or at least have knowledge of sound investment strategies, winning a large jackpot won't magically make them financial experts.

Reply #10

nina09 — Sat, 07 Feb 2015 16:37:54 GMT

The thing about investment is that a lot of people try to beat or outperform the market and most people fail.

People panick and act erratic.

I personally prefer passive investment strategy, you buy to an index fund (think s p 500) and ride it out with the market. Yes the market is going to go down but is also going to come back up, the point is to not take your money out and when you evaluate the 5 or 10 year average return you will probably have a good return. They have funds for pretty m... [ More ]

Reply #9

noise-gate — Sat, 07 Feb 2015 16:35:42 GMT

Brilliant response..

Reply #8

zinniagirl — Sat, 07 Feb 2015 16:23:53 GMT

Sorry, the largest bill currently issued is the 'C' note, $100 bill.

good luck to all who play.

Reply #7

Artist77 — Sat, 07 Feb 2015 15:51:53 GMT

As Oprah says, always sign your own checks. In other words, don't trust a 3rd party to do it.

Reply #6

Teddi — Sat, 07 Feb 2015 15:44:53 GMT

OMG, what did you do? Did you sue the brokerage? Obviously there was a lack of oversight.

Reply #5

Teddi — Sat, 07 Feb 2015 15:41:50 GMT

No idea. I'm guessing it would look like the stack of money in Walter White's storage unit.

Reply #4

Raven62 — Sat, 07 Feb 2015 14:57:26 GMT

Do you have any idea of How Much: One Hundred Thirty Million in Cash Would Be?

$100 Bills=1.3 million

$1000 Bills=130 thousand

Reply #3

MillionsWanted — Sat, 07 Feb 2015 14:38:30 GMT

Use stock or funds. Never use private investment consultants. If you do check his reputation.

If you find his mugshot on the net, definetly stay away!

I would only need 10 million to be financially safe until I die of old age. No need to invest it really.

Become a philanthropist instead.

Reply #2

rcbbuckeye — Sat, 07 Feb 2015 14:27:13 GMT

Well, my wife lost a big chunk of her retirement money to a guy that used hers and others money to invest for himself, then when the investments went bad ran to South America. He did this without telling anyone in the brokerage.

If I win that kind of change, I'll just invest in the bank of rcbbuckeye.

If you don't have it in your possession, you don't have control.

Reply #1

hearsetrax — Sat, 07 Feb 2015 14:23:16 GMT

I knew thar was a reason I saved this article

thars no such thing as a safe investment these days,

contrary to pop opinion 'cept for self and a few worth while others

Safely Investing Your Winnings...Or Not

Teddi — Sat, 07 Feb 2015 14:10:24 GMT

After watching numerous episodes of rags to riches to rags stories, TLCML, COTL, American Greed, and 30 for 30: Broke, I wondered if anyone here knew (really and truly knew and had formulated a plan) how they would actually invest a windfall of over $130 million. Stocks, bonds, real estate, cdars?

Would you bother investing at all? At that amount, you certainly wouldn't need to. Does an old mattress or mason jars in the backyard sound like the best way for you to keep your money safely off t... [ More ]