Re: What would you do if you won $47 Million?
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It's not like your getting 47 million every year. It's a 1 time event and yes it is a lot of money but I don't think you can hand out 50k to every family member every year (I assume your talking about immediate family). If this is a lotto. First of all it's heavily taxed. Second of all are you taking it all at once and does this include that. If it does, then it's a rather large sum of money. If it isn't, you cut is going to be even smaller. Let's say you take it for 20 years. Thats only a little over 2 million a year pre-taxes and about 1.5 million after taxes. So giving out let's say 50k a year, is a large sum of money for this prize although you could easily survive. Let's say you do take it in a lump sum. The interest alone if you get a decent rate should let you survive for a long time but it's not world changing money but rather life changing money and many lottery winners haven't spent their money wisely.
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Thank you. Many lotto-winners have absolutely no clue what they can and can't afford.
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