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JACKPOT plan-stocks & investments 4 long term growth

Topic closed. 17 replies. Last post 3 years ago by Igamble.

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Think's avatar - lightbulb
Marquette, MI
United States
Member #20541
August 20, 2005
705 Posts
Offline
Posted: December 4, 2013, 8:42 pm - IP Logged

Ok , i decided to make this topic so we can have a starting place where we can plan how to use the winnings and invest it,how NOT TO let it drain and spend like a fool .With the   info  and chat here we will b better prepared when going to see the financial/investment advisors and lawyers if one wants to do so.

    What are the best stock to buy ? best investments ? would you even want to spend your time " working " to invest that money if you win say 2-300 mil. ?  would you try to put that money  to work if you win ONLY 20-30mil ?  And name 10 things you want to buy right away once you win  that kind of money ! 

     I will fill in with my personal choices after some responses. for now all i know is i want to spend and spend,buy cars ,  maybe buy a few businesses and relax once i win ....

Maybe investing *is* spending like a fool!

If you win enough you may be able to just let your money sit in cash and develop a spending plan for it.

Of course you would always have to watch out for some nasty inflation that you did not see coming and adjust for that but barring that all you need is cash.

Here is one example using 166.1181 as a historic worst case 40 year inflation scenario-

Say you win 30 million after taxes, lawyers etc then you spend 5 million and have 25 million left

25,000,000/166.1181 =  150,495

So you would have, in todays dollars $150,495 per year to spend.  Of course you adjust that every year with your worst case inflation numbers so that it is constant in 'year-you-win' dollars and you will probably make out verses inflation too because you used a worst case estimate.  If you do it that way you only have to worry about record setting inflation.

At that point you should have long since made a plan to invest for inflation.

Of course you should use your own  time and inflation numbers.

After all what is the point in winning if you have to invest it?

    New York's avatar - 103h4yr
    NYC
    United States
    Member #117984
    October 19, 2011
    1843 Posts
    Offline
    Posted: December 5, 2013, 12:33 am - IP Logged

    When the Jackpot is won, and say I get a share of $30 million, here's what I'll do. 

    $30,000,000 - $200,000 for cheap condo in New York = $29,800,000 left

    $29,800,000 - $1,000,000 for 3 cars = $28,800,000 left 

    (The 3 cars: Audi A7, Range Rover, and Ford F150 will be covered with that $1 million budget.)

    (e.g. insurance, taxes, general maintenance, and cost of the 3 cars) 

    $28,800,000 - $500,000 general shopping money = $28,300,000 left

    (general shopping money includes, groceries, clothing, and furniture expenses)

    $28,300,000 - $700,000 utilities = $27,600,000 left

    (electricity, water, mortgage, cable, property taxes?, and gas) 

    $27,600,000 - $250,000 travel expenses = $27,350,000 left

    (trips to Disney World, cruises, and sight seeing in Australia should cover the costs) 

    _____________________________________________________

    So, I'll have $27,350,00 left. I haven't factor in charity but most likely $100,000. 

    And, for gifts to family, subtract another $500,000. 

    I'll have $26,000,000 maybe? Subtract another $2,000,000 for tax purposes from that and I'll stay with $24,000,000? 

    I don't know what I'll invest in though as far as investments go. I'll have to look into that. 

    But yeah, I'm NOT trying to go under $20,000,000! I'll feel broke. Im gonna hold on to that for a lifetime, all means possible! 

    How about you, ladies and gentlemen?

      Igamble's avatar - spider
      nj
      United States
      Member #145657
      August 10, 2013
      974 Posts
      Offline
      Posted: December 5, 2013, 10:15 pm - IP Logged

      When the Jackpot is won, and say I get a share of $30 million, here's what I'll do. 

      $30,000,000 - $200,000 for cheap condo in New York = $29,800,000 left

      $29,800,000 - $1,000,000 for 3 cars = $28,800,000 left 

      (The 3 cars: Audi A7, Range Rover, and Ford F150 will be covered with that $1 million budget.)

      (e.g. insurance, taxes, general maintenance, and cost of the 3 cars) 

      $28,800,000 - $500,000 general shopping money = $28,300,000 left

      (general shopping money includes, groceries, clothing, and furniture expenses)

      $28,300,000 - $700,000 utilities = $27,600,000 left

      (electricity, water, mortgage, cable, property taxes?, and gas) 

      $27,600,000 - $250,000 travel expenses = $27,350,000 left

      (trips to Disney World, cruises, and sight seeing in Australia should cover the costs) 

      _____________________________________________________

      So, I'll have $27,350,00 left. I haven't factor in charity but most likely $100,000. 

      And, for gifts to family, subtract another $500,000. 

      I'll have $26,000,000 maybe? Subtract another $2,000,000 for tax purposes from that and I'll stay with $24,000,000? 

      I don't know what I'll invest in though as far as investments go. I'll have to look into that. 

      But yeah, I'm NOT trying to go under $20,000,000! I'll feel broke. Im gonna hold on to that for a lifetime, all means possible! 

      How about you, ladies and gentlemen?

      This is pretty good plan I Agree! ,i will print this  and change the cars-Mercedes new S class/Ford Raptor and one  supercar and probably get a house instead of condo .hopefully by the time i win my jackpot prices are the same .