If I won $20M+ I would invest the lot in a range of conservative assets, hoping to generate an annual yield of about 5%. I would spend this money traveling the world, giving financial gifts to charities and community projects I found in each place I visited.
Fluking the Big One
- Thread starter cu@thetop
- Start date
Probably do the following after winning $20M:
But it would be fun.
Shame I don't play lotto.
- $1M into trusts for our three kids;
- Pay off all our debt $6M;
- Set up a couple of education trusts for kids at several schools and unis we have gone to a long with our kids - $1M;
- Set up a charitable foundation for donating to various charities - $5M;
- Invest the rest in high yield blue chip investments - $5M to return about $300K pa with 30% tax already paid; and,
- Go and blow $2M on stuff (cars, holidays, and the cliche holiday house etc).
But it would be fun.
Shame I don't play lotto.
^^^ +1 ^^^
But would agressively invest say 10% of it instead of conservative the lot.
Sort of a slush fund if you will.
if it works out then good if not then all is not lost.
It's the gambler in me.....
Then when everything settles down I'll head off to the Cook Isls and buy me a catamaran hire business and house on the lagoon and chuck the computers and do dads away.!
Actually - was a bit flippant before. I do have a plan if I win $20mil
$1mil each to charities of my choice - RSPCA and Medicine without Boarders
A hundred or so sponsor children in the worst countries for girls
$500k to each sibling on both sides (equal numbers) - $2mil
$500k to each of hubby's kids from previous marriage - $1.5mil
Both lots of parents are financially self-sufficient, but will shout them travel etc
Buy a bigger intensive income producing farm and required equipment - $4-5mil.
The remaining $10mil or so would be invested in stock standard commercial and residential real estate producing a (very conservative) income of around 5%+ and rising each year - think I could survive on half a mil each year - or which probably another $100k more would go to charities.
$1mil each to charities of my choice - RSPCA and Medicine without Boarders
A hundred or so sponsor children in the worst countries for girls
$500k to each sibling on both sides (equal numbers) - $2mil
$500k to each of hubby's kids from previous marriage - $1.5mil
Both lots of parents are financially self-sufficient, but will shout them travel etc
Buy a bigger intensive income producing farm and required equipment - $4-5mil.
The remaining $10mil or so would be invested in stock standard commercial and residential real estate producing a (very conservative) income of around 5%+ and rising each year - think I could survive on half a mil each year - or which probably another $100k more would go to charities.
We all know it's most likely not going to happen, but the dream remains.
Lotteries: Extra tax on the poor and the stupid
Lotteries: Extra tax on the poor and the stupid
Client of mine won $120k few months ago, he used 1/2 it as a deposit on a house for his daughter to live in...
Put $30k into bank savings and pretty sure the other $30k was blown
I would like do the same...
1/2 property/shares/etc
1/4 cash savings
1/4 spend up big / gift to family / charity
Think I've bought 2 lotto tickets before
Put $30k into bank savings and pretty sure the other $30k was blown
I would like do the same...
1/2 property/shares/etc
1/4 cash savings
1/4 spend up big / gift to family / charity
Think I've bought 2 lotto tickets before
Reminds me of the time when I went to my local news-agency to buy a birthday card.
The queue at the lotto machine was 10 people long and some of those looked like they should wouldn't be able to afford to play the game (how much is it???). They were forking over a couple of hundred at a time.
Do that 52 weeks a year and it is indeed a tax for the poor and stupid.
Since aquiring mortgages have not had the punt at all except the occasional bumper Lotto like over $20m draws.
But do it meaningfully with a systems 10 or 12.
Those folks lining up each week forking out whatever could do the same and save that weekly punt for the big one each year and get themselves more of a chance with a systems entry.
But do it meaningfully with a systems 10 or 12.
Those folks lining up each week forking out whatever could do the same and save that weekly punt for the big one each year and get themselves more of a chance with a systems entry.
I met someone through work once who had the job of phoning people who had won the Division One to tell them.
I made mention that it must be pretty uplifting telling people that their lives have changed. She replied that it brought out the best and worst of people's emotions. One of the most common reactions was anger and resentment... "but why is MY jackpot only $800k? Last week's prize was $2m."
I made mention that it must be pretty uplifting telling people that their lives have changed. She replied that it brought out the best and worst of people's emotions. One of the most common reactions was anger and resentment... "but why is MY jackpot only $800k? Last week's prize was $2m."
That is a classic. I remember a jackpot of a couple of million went off a few years ago. Unusually there were over 50 (or was it 150) 1st division winners. Prize split up was about 30k each but one wally had spent 40k on his credit cards the weekend he found out but before he knew how little it was. Winning lotto actually cost him money.
20 mill.
Resign from job. I have enough things that I want to do to keep me busy .
Buy a waterfront PPOR either sydney , maybe cremorne or middle harbour area as a city pad or maybe a nice unit close to city ? Finger warf
Spend about three months travelling around Europe in really nice up ,arket accommodation . Cruise down coast of Croatia . Buy a nice rock for wife .
Buy a nice property in Nashville with a recording studio . Go there for a month each year in late spring and fall writing songs .
Spend feb - April each year in north arm cove writing and recording . Buy the house ( actually land ) that I wanted to buy and build dream house with recording studio on waterfront .
Set up a charity for kids living in 2770 to attend private schools as well as psychological support for family .
Cliff
Resign from job. I have enough things that I want to do to keep me busy .
Buy a waterfront PPOR either sydney , maybe cremorne or middle harbour area as a city pad or maybe a nice unit close to city ? Finger warf
Spend about three months travelling around Europe in really nice up ,arket accommodation . Cruise down coast of Croatia . Buy a nice rock for wife .
Buy a nice property in Nashville with a recording studio . Go there for a month each year in late spring and fall writing songs .
Spend feb - April each year in north arm cove writing and recording . Buy the house ( actually land ) that I wanted to buy and build dream house with recording studio on waterfront .
Set up a charity for kids living in 2770 to attend private schools as well as psychological support for family .
Cliff
Groceries and this week's pocket money for No.1 son.So how's that going to be divvied up?
17 years ago I won 10 k on lotto . Blew it on a new computer for my music . Would have been a deposit for an IP in 2770 .....
I am so glad I wasn't watching it live . Just a letter saying id won ? division 2 . I worked out I got the first five numbers and then the supplimentary......
Raising Ned Devine without the happy ending comes to mind
Cliff
I am so glad I wasn't watching it live . Just a letter saying id won ? division 2 . I worked out I got the first five numbers and then the supplimentary......
Raising Ned Devine without the happy ending comes to mind
Cliff
if i won 20mil i'd have to live off the interest.
anything that required anything remotely to do with "work" for a good decade would be turfed.
anything that required anything remotely to do with "work" for a good decade would be turfed.
