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#101
06-06-2006, 04:03 PM
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Re: What would you do if you won $47 Million?
phb,
"Would you not feel at all tense about you and your wife/GF's health and well-being in the ensuing days?" Wait a sec. Do you live in South America? 
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#102
06-06-2006, 04:06 PM
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Re: What would you do if you won $47 Million?
[ QUOTE ]
phb, "Would you not feel at all tense about you and your wife/GF's health and well-being in the ensuing days?" Wait a sec. Do you live in South America? [/ QUOTE ] Maybe XXXNoahXXX is his gimmick account.
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#103
06-06-2006, 04:09 PM
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Re: What would you do if you won $47 Million?
As soon as the money hit my account, I would pay off my car and the rest of my debts (and my wife's). Then I would find a financial planner to help me make the most of it for the short term.
Priorities- 1) House for wife and I 2) Pay off any outstanding debts for my immediate family (up to $25k or per person) 3) Extended Vegas vacation- shows, fine dining, and lots of gambling. See how much crap I can squeeze out of the casinos for the chance at my money =) Fly my buddies in when they have time to hang for a couple of nights. After a month or so in Vegas, back home to rest and recuperate, and make some long term plans for investments and the like. I think the most fun part would be pimping out a new house. Other than that, (and probably a new luxury car), my lifestyle wouldn't change all that much. I would probably stay at my job long enough to help them train my replacement, or work as a consultant a day or two a week if needed.
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#104
06-06-2006, 04:11 PM
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Re: What would you do if you won $47 Million?
[ QUOTE ]
[ QUOTE ] 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. [/ QUOTE ] Thank you. Many lotto-winners have absolutely no clue what they can and can't afford. [/ QUOTE ] Many people who play the lottery aren't incredibly good with their money to start with. PS: What's up with abbreviating million as "MM". I thought it was just one M.
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#106
06-06-2006, 04:21 PM
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Re: What would you do if you won $47 Million?
[ QUOTE ]
[ QUOTE ] phb, Your "get out of Dodge" plan is weird as hell. [/ QUOTE ] Not if you're a deadbeat who own s money to everyone you know. [/ QUOTE ] Man, that was so close to being good, too.
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#107
06-06-2006, 04:24 PM
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Re: What would you do if you won $47 Million?
[ QUOTE ]
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. [/ QUOTE ] Why the [censored] would anyone with at least a third grade education let the government (assuming this is from lottery winnings) manage their money for the next 20 years? This would pretty much be the dumbest thing you could do.
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#109
06-06-2006, 04:30 PM
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Re: What would you do if you won $47 Million?
[ QUOTE ]
[ QUOTE ] 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. [/ QUOTE ] Why the [censored] would anyone with at least a third grade education let the government (assuming this is from lottery winnings) manage their money for the next 20 years? This would pretty much be the dumbest thing you could do. [/ QUOTE ] The lotto gives you a choice. You can either take half of the winnings up-front, or get a yearly payout for like 20 years for the full amount. This has nothing to do with the government handling your money.
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#110
06-06-2006, 04:30 PM
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Re: What would you do if you won $47 Million?
You get an enormous windfall. You did no work to get this, you just got incredibly lucky. It happens, good for you.
You devise a scheme where you throw a few crumbs to the people that raised you (and apparently do not despise?) and your siblings. This amounts to a fraction of the return you would get if all you did was stick the money in the bank for a couple of years. Finding a way to deal with the scavengers that inevitably appear after becoming hugely wealthy is one thing. Being incredibly selfish with 'your' fortune and your immediate family is something else. Really something else. Imagine if your offspring became insanely wealthy one day, and their show of love and appreciation to you was paying your grocery bills. I'd probably send the <$200 a week back after I had cleaned myself with it, or give it to charity.
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