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Where to put 241 million after taxes??

Topic closed. 28 replies. Last post 5 years ago by Colt45ML.

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United States
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January 8, 2011
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Posted: March 18, 2012, 6:49 pm - IP Logged

Hi everyone!!!!

I was just wondering if someone happens to win the 241 million jackpot (I pray in the NAME OF JESUS that its me) where would someone put all that money? Where do the millionares of the world put all of their wealth if they don't invest it in real estate, stocks, or the like? The Federal Reserve only covers accounts that contain $250,000 or less. Do you end up opening like 100 checking or savings accounts???

Thanks everyone and have a blessed evening!!!!!!!!!!!!!!

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    Bronx, NY
    United States
    Member #124198
    March 8, 2012
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    Posted: March 18, 2012, 7:58 pm - IP Logged

    I've wondered about this myself.   Would love to read what people come up with.

      time*treat's avatar - radar

      United States
      Member #13130
      March 30, 2005
      2171 Posts
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      Posted: March 18, 2012, 8:09 pm - IP Logged

      Hi everyone!!!!

      I was just wondering if someone happens to win the 241 million jackpot (I pray in the NAME OF JESUS that its me) where would someone put all that money? Where do the millionares of the world put all of their wealth if they don't invest it in real estate, stocks, or the like? The Federal Reserve only covers accounts that contain $250,000 or less. Do you end up opening like 100 checking or savings accounts???

      Thanks everyone and have a blessed evening!!!!!!!!!!!!!!

      These aren't recommendations, just some possibilities* ...

      Treasury paper (notes & bonds), corporate bonds, muni bonds, CDARS (a bit like 100 accounts, but less paperwork), & precious metals.

       

      *Gotta put disclaimers on everything, these days. Roll Eyes

      In neo-conned Amerika, bank robs you.
      Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.

        haymaker's avatar - Lottery-012.jpg
        Egg Harbor twp.south Jersey shore
        United States
        Member #112968
        June 29, 2011
        3854 Posts
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        Posted: March 18, 2012, 8:32 pm - IP Logged

        i don't know how old you are, but real estate will come back,

        it always does, its cyclical .

        Extraordinary Popular Delusions & the Madness of Crowds    -- Charles Mackay  LL.D.

          zinniagirl's avatar - flower avatar_0026.jpg
          nc
          United States
          Member #99520
          October 26, 2010
          375 Posts
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          Posted: March 18, 2012, 9:59 pm - IP Logged

          First things first, protect your money.   Be sure to deposit some into your IRAs for "Retirement"  Then depending on your age, invest portionally to your risk.  If you are 50, then half of it should be in low risk investments.   If you are 30 then 30% should be in low risk investments.    Just be sure you understand what your advisers are selling you!!

            CDanaT's avatar - tiger avatar_04_hd_pictures_169016.jpg
            TX
            United States
            Member #121193
            January 4, 2012
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            Posted: March 18, 2012, 10:04 pm - IP Logged

            Have to buy some Gold,Silver, land, keep a few million in cash for a slush fund....invest in companies that give out dividends,...put 40 million away to live off the interest, give the rest away to charity,family,close friends. last but not least..HAVE FUN, travel and never live with drama again !!!

            Stay Positive, Believe and good things will come your way

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              Orlando, FL
              United States
              Member #115785
              August 28, 2011
              259 Posts
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              Posted: March 18, 2012, 10:07 pm - IP Logged

              Have to buy some Gold,Silver, land, keep a few million in cash for a slush fund....invest in companies that give out dividends,...put 40 million away to live off the interest, give the rest away to charity,family,close friends. last but not least..HAVE FUN, travel and never live with drama again !!!

              CDanaT, if you ever do win, your life will be full of Drama. Everybody will attack you, hunt you down, look for some way to sue you and even your family and friends will turn on ya. Be careful what u wish for.

              Not being negative, just too many horror lottery stories out thereRed Devil

                Jack-C's avatar - us
                San Diego, CA
                United States
                Member #61467
                May 24, 2008
                28146 Posts
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                Posted: March 18, 2012, 10:14 pm - IP Logged

                Hi everyone!!!!

                I was just wondering if someone happens to win the 241 million jackpot (I pray in the NAME OF JESUS that its me) where would someone put all that money? Where do the millionares of the world put all of their wealth if they don't invest it in real estate, stocks, or the like? The Federal Reserve only covers accounts that contain $250,000 or less. Do you end up opening like 100 checking or savings accounts???

                Thanks everyone and have a blessed evening!!!!!!!!!!!!!!

                They put it in Municiple Bonds.  The interest they earn is TAX FREE.

                  haymaker's avatar - Lottery-012.jpg
                  Egg Harbor twp.south Jersey shore
                  United States
                  Member #112968
                  June 29, 2011
                  3854 Posts
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                  Posted: March 18, 2012, 10:20 pm - IP Logged

                  CDanaT, if you ever do win, your life will be full of Drama. Everybody will attack you, hunt you down, look for some way to sue you and even your family and friends will turn on ya. Be careful what u wish for.

                  Not being negative, just too many horror lottery stories out thereRed Devil

                  Ok you & CDanaT are friends, Cool i tell people i know about LP also,

                  a'm i right,orlando ain't that big a town,been there a couple times. Smile

                  Extraordinary Popular Delusions & the Madness of Crowds    -- Charles Mackay  LL.D.

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                    Milwaukee, WI
                    United States
                    Member #3131
                    December 27, 2003
                    665 Posts
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                    Posted: March 18, 2012, 10:47 pm - IP Logged

                    Hi everyone!!!!

                    I was just wondering if someone happens to win the 241 million jackpot (I pray in the NAME OF JESUS that its me) where would someone put all that money? Where do the millionares of the world put all of their wealth if they don't invest it in real estate, stocks, or the like? The Federal Reserve only covers accounts that contain $250,000 or less. Do you end up opening like 100 checking or savings accounts???

                    Thanks everyone and have a blessed evening!!!!!!!!!!!!!!

                    It's 241 million in payments. I would be 91 when I got my last check.

                    170 million cash, before our governor takes the cash. Leaves me with about $100 million... 

                    Would move to SD/WY where the state doesn't take cash.

                      LottoGuyBC's avatar - Lottery-050.jpg
                      British Columbia
                      Canada
                      Member #116101
                      September 4, 2011
                      4033 Posts
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                      Posted: March 19, 2012, 8:17 am - IP Logged

                      1000+ Checking & Savings acct Thud

                      "You have to be in it to win it!"

                        dallascowboyfan's avatar - tiana the-princess-and-the-frog.jpg
                        Oklahoma
                        United States
                        Member #82391
                        November 12, 2009
                        6290 Posts
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                        Posted: March 19, 2012, 8:25 am - IP Logged

                        Get a coffee can and dig a hole in the back yard.....Wink

                         

                        Seriously though seek financial advise.......Thumbs Up

                          LottoGuyBC's avatar - Lottery-050.jpg
                          British Columbia
                          Canada
                          Member #116101
                          September 4, 2011
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                          Posted: March 19, 2012, 8:36 am - IP Logged

                          Get a coffee can and dig a hole in the back yard.....Wink

                           

                          Seriously though seek financial advise.......Thumbs Up

                          that's gonna be a hell of alot of coffee cans Thud

                          just get a real big mattress Thumbs Up

                          + a Xtra Large fridge White Bounce

                          "You have to be in it to win it!"

                            sully16's avatar - sharan
                            Ringleader
                            Michigan
                            United States
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                            October 28, 2009
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                            Posted: March 19, 2012, 9:06 am - IP Logged

                            Get a coffee can and dig a hole in the back yard.....Wink

                             

                            Seriously though seek financial advise.......Thumbs Up

                            Good advice.

                            Did you exchange a walk on part in the war ?

                            For a lead role in a cage?

                             

                                                                        From Pink Floyd's " Wish you were here"

                              ohfive's avatar - Lottery-035.jpg
                              New Member
                              New York, New York
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                              March 17, 2012
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                              Posted: March 19, 2012, 10:34 am - IP Logged

                              I would personally seek financial advisors ect......

                              - wish you all the best for tomorrows drawing!!!!