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Artist77

United States
Member #121,737
January 16, 2012
10,899 Posts
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Jun 25, 2022, 11:15 am

Quote: Originally posted by GiveFive on Jun 25, 2022
I've seen that book, but never found the time to buy it and read it. My source of knowledge (what little there is of it) is that someone in my immediate family is employed in the Financial Industry in New York City. Until recently they worked for a global investment bank, but left that job for a different job in Private Equity. My relative has on the job exposure to how very wealthy people manage and invest their money.

My relative told me about something that I never even knew existed called an "Accredited Investor"... An accredited investor is a high net worth individual. (to be classified as a high net worth individual, someone must have one million in assets not including their primary residence) High net worth individuals are deemed to be "sophisticated investors" by The Security and Exchange Commission, and therefore they are allowed to invest their money in investment vehicles that small retail investors have no access to. My relative recently saw an accredited investor deposit $200,000 into a Private Equity fund which is typically the domain of institutional investors.

I asked my relative "Why only $200,000? Why not more?" His answer; "That's the minimum amount that can be invested in the fund managed by the firm I work for. Our client is just dipping his toe in the water. We know he'll be back with more. He just wants to take his time and proceed slowly." Must be nice.

The biggest single thing I've ever learned in speaking with my relative is that there is a whole lot more to having and managing huge wealth than most even people realize. To me that's pretty understandable... Us 99%-ers don't have big money, so we have no life experiences with what it takes to manage it, but most importantly, keep it. Anyone that wins millions of dollars playing the lottery and does not hire the kinds of financial pros that know how to manage it very likely wont have their lucky windfall for very long. G5

The book also gives stats for generational wealth and how it often evaporates after a couple of generations.. Mostly due to poor money management skills, buying a new car every year or two and having a spend spend spend philosophy.

DO NOT BE AFRAID.

How Great Thou Art. God has blessed America.
TheseStars

BOX HIT WINNER!

Austintown, Ohio
United States
Member #125,131
March 25, 2012
2,376 Posts
Offline

Jun 25, 2022, 12:28 pm
Win $100
- Put my bankroll back in my pocket, and gamble more with their money.
Win $1000
- Deposit it my checking account with a big smile----this Jersey Gal would enjoy buying fresh Maryland Crabs sprinkled with Bay seasoning that just arrived at my Ohio Grocers. I'd probably buy some of their expensive Italian cookies too. Order a Pizza and some wings one night;and Hit another few restaurants a few other nights, and Maybe order up a few new summer dresses. Always buy and download more music, animations assets, and computer software.
Win 10,000
- Buy Gold and Silver
Win 100,000
- Pay Off the House
Win 1,000,000
- Start looking for a cozy charming summer home on Lake Erie made with Stone Finishes inside and out and buy more GOLD AND SILVER.
Win 10,000,000
- Going to the Tuscon GEM SHOW with a Million and dropping every dime of it on STONES to decorate my Lake Erie home,
- maybe even get me one of those quartz bath tubs with a matching sink.
- Pay-off the homes for everyone in my family and give them a little something extra to have fun.
- Animal and homeless shelters in the area would be erecting a statue in my likeness,
- I would resume life as I do now wearing the same ole some ole, only the quality will be a little better; and I think I would
- probably want to live in a suite on the top floor of an Atlantic City casino (if they will allow me and my zoo) for a year and enjoy room and maid service every morning with an ocean view for the readjustment period; while I begin to muster
- updating all photography equipment, computer systems, and its probable I'll begin to think about buying a boat I can live on over the weekends on one of the Islands---not sure money is going to change my ideas about traveling. I'm a home body. I love places once I get there---I just don't like the time it takes to get there.
- It's six months in and I'm now interviewing of a team of artists, coders, and other talented folks for a variety of projects ideas I am passionate about.
Win over 10,000,000
- all of the above, just more of it
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PrisonerSix

Baton Rouge, LA
United States
Member #4,602
May 7, 2004
1,396 Posts
Offline

Jun 25, 2022, 6:18 pm

One thing my wife wants to do if we win is spend a little time living in the Netherlands. That sounds interesting to me so I'll go along for the ride.

Prisoner Six

"I am not a number, I am a free man!"
Soledad

New York, NY
United States
Member #140,626
March 23, 2013
12,016 Posts
Offline

Jun 25, 2022, 7:01 pm

Quote: Originally posted by JeetKuneDoLotto on Jun 23, 2022
You might be able to save some money if you could get a JET, that had a nice bedroom in it, and that also had a bathroom that you could play with your base balls in.

Maybe one of those double decker air bus thingies.

Just curious but would the bathroom where you play with your base balls, also be the same bathroom with a tub big enough for 10, or would that be a different bathroom?

I mean dont be a cheapskate now.

Ahaha different because,

We all just wanna be big rockstars

Living in hilltop houses

Driving 15 cars

The girls come easy and the drugs come cheap

We all stay skinny cause we just won't eat.

Sometimes you do the right thing just because it’s right.

Life's a game of mathematics, if you can't figure that out I don't know what to tell you.
MartyMcNuts

Australia
Member #198,412
May 24, 2019
134 Posts
Offline

Jun 25, 2022, 7:46 pm

Quote: Originally posted by Soledad on Jun 25, 2022
Ahaha different because,

We all just wanna be big rockstars

Living in hilltop houses

Driving 15 cars

The girls come easy and the drugs come cheap

We all stay skinny cause we just won't eat.

LOL.. Soledad,

And we'll hang out in the coolest bars,
In the V.I.P. with the movie stars.
Every good gold digger's gonna wind up there,
Every Playboy Bunny with her bleached blond hair.
Soledad

New York, NY
United States
Member #140,626
March 23, 2013
12,016 Posts
Offline

Jun 26, 2022, 6:26 am

Quote: Originally posted by MartyMcNuts on Jun 24, 2022
LOL.. Gotta love Nickelback!! So you wanna be a Rockstar, Soledad?

I went to Mark Wahlberg's birthday party once. The blonds certainly show up lol

Me and a couple friends started the idea for that VH1 show Roadies too. That was our idea. I used to know some people. Lol

Sometimes you do the right thing just because it’s right.

Life's a game of mathematics, if you can't figure that out I don't know what to tell you.
cottoneyedjoe

United States
Member #197,022
March 28, 2019
1,749 Posts
Offline

Jun 26, 2022, 1:06 pm
Quote: Originally posted by TheseStars on Jun 25, 2022
Win $100
- Put my bankroll back in my pocket, and gamble more with their money.
Win $1000
- Deposit it my checking account with a big smile----this Jersey Gal would enjoy buying fresh Maryland Crabs sprinkled with Bay seasoning that just arrived at my Ohio Grocers. I'd probably buy some of their expensive Italian cookies too. Order a Pizza and some wings one night;and Hit another few restaurants a few other nights, and Maybe order up a few new summer dresses. Always buy and download more music, animations assets, and computer software.
Win 10,000
- Buy Gold and Silver
Win 100,000
- Pay Off the House
Win 1,000,000
- Start looking for a cozy charming summer home on Lake Erie made with Stone Finishes inside and out and buy more GOLD AND SILVER.
Win 10,000,000
- Going to the Tuscon GEM SHOW with a Million and dropping every dime of it on STONES to decorate my Lake Erie home,
- maybe even get me one of those quartz bath tubs with a matching sink.
- Pay-off the homes for everyone in my family and give them a little something extra to have fun.
- Animal and homeless shelters in the area would be erecting a statue in my likeness,
- I would resume life as I do now wearing the same ole some ole, only the quality will be a little better; and I think I would
- probably want to live in a suite on the top floor of an Atlantic City casino (if they will allow me and my zoo) for a year and enjoy room and maid service every morning with an ocean view for the readjustment period; while I begin to muster
- updating all photography equipment, computer systems, and its probable I'll begin to think about buying a boat I can live on over the weekends on one of the Islands---not sure money is going to change my ideas about traveling. I'm a home body. I love places once I get there---I just don't like the time it takes to get there.
- It's six months in and I'm now interviewing of a team of artists, coders, and other talented folks for a variety of projects ideas I am passionate about.
Win over 10,000,000
- all of the above, just more of it
Win 1,000,000 Start looking for a cozy charming summer home on Lake Erie made with Stone Finishes inside and out and buy more GOLD AND SILVER.

I was skeptical you could find lakefront property there for a million, but according to zillow there's a lot of decent properties even under $500K. Learned something new today.
hearsetrax

United States
Member #52,343
May 21, 2007
4,033 Posts
Offline

Jun 26, 2022, 1:54 pm

Quote: Originally posted by cottoneyedjoe on Jun 26, 2022
Win 1,000,000 Start looking for a cozy charming summer home on Lake Erie made with Stone Finishes inside and out and buy more GOLD AND SILVER.

I was skeptical you could find lakefront property there for a million, but according to zillow there's a lot of decent properties even under $500K. Learned something new today.

it never ceases to amaze me the number of "dream house starter kits" I can find for between $200k to nearly $475k, if one put one's mind to it and has the right mindset

of course, most folks here at the LP can't be bothered to put in the time and energy to flesh out thar own version of a lottery dream house
Artist77

United States
Member #121,737
January 16, 2012
10,899 Posts
Offline

Jun 26, 2022, 2:31 pm

I would still start my charitable foundation and buy a small beach house.

DO NOT BE AFRAID.

How Great Thou Art. God has blessed America.
Stack47

Kentucky
United States
Member #32,651
February 14, 2006
10,528 Posts
Offline

Jun 28, 2022, 12:26 pm

I'll buy the Island in the North Atlantic where the treasure is really buried.

"Some people have something to say while other people feel the need to say something"
NOcubaNoPROBLEM

United States
Member #217,412
September 8, 2021
47 Posts
Offline

Jun 28, 2022, 12:38 pm

Tbis typical topic some affiliated lottery people will post when lottery sales aint doing so good because of economy.
rcbbuckeye

100

Texas
United States
Member #55,887
October 23, 2007
22,271 Posts
Offline

Jun 28, 2022, 5:54 pm

Quote: Originally posted by cottoneyedjoe on Jun 26, 2022
Win 1,000,000 Start looking for a cozy charming summer home on Lake Erie made with Stone Finishes inside and out and buy more GOLD AND SILVER.

I was skeptical you could find lakefront property there for a million, but according to zillow there's a lot of decent properties even under $500K. Learned something new today.

I used to sell real estate in north Ohio around Vermilion, Huron, and Sandusky, all cities on Lake Erie, in the 1980's and early '90's. My best sale was a condo in Huron. A couple from California bought it for $225,000 cash. Couldn't believe how cheap it was compared to CA.

The seller's agent was suspicious because nobody around there paid cash for property, but these folks had sold their home in CA for over a million dollars.

JUST LOOK AT THE ODDS OF ANY JACKPOT GAME, THAT WILL TELL YOU EVERYTHING YOU NEED TO KNOW
Elizabeth03

Nova Scotia
Canada
Member #9,934
December 27, 2004
1,636 Posts
Offline

Jun 28, 2022, 6:46 pm

I would be so happy if I won! Also I would be able to travel and move anywhere!
ah1963

United States
Member #208,632
July 31, 2020
1,721 Posts
Offline

Jun 28, 2022, 9:54 pm

Quote: Originally posted by magiclottoza on Jun 21, 2022
Its very interesting question that what would you do if you won a lottery like Main prize, big payday, ten million at least. pay your debts, to buy the things you always wanted to own, and to enjoy a dream life–or at least your vision of a dream life…

Nothing special, just reading most of the time. I will hire people to do most of my work.
Stack47

Kentucky
United States
Member #32,651
February 14, 2006
10,528 Posts
Offline

Jun 29, 2022, 1:06 am

Quote: Originally posted by cottoneyedjoe on Jun 26, 2022
Win 1,000,000 Start looking for a cozy charming summer home on Lake Erie made with Stone Finishes inside and out and buy more GOLD AND SILVER.

I was skeptical you could find lakefront property there for a million, but according to zillow there's a lot of decent properties even under $500K. Learned something new today.

Found a house on Kelly's Island with 3 acres for just under $600,000. Probably cost at least half that much for repairs so it might not be on a multi-millionaire's bucket list.

"Some people have something to say while other people feel the need to say something"

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