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#12
08-14-2006, 05:25 PM
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Re: $6M Gross - What Do You Do
[ QUOTE ]
Leave LA for someplace with a far lower cost of living, invest the lump and cruise off of interest. Is the $6M before or after taxes? A modest return of 6% on $6M would be $360k/annum. I.e., don't get funky, just invest and live fine off the juice for the rest of your life. [/ QUOTE ] Exactly. $360K a year is more than enough for two people to live in a comfortable manner in a non-urban environment. 
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#13
08-14-2006, 05:27 PM
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Re: $6M Gross - What Do You Do
Because they're getting half of the 1st place WSOP ME, it's $6M Gross (as mentioned in the subject line). Let's assume they will not be taxed twice on this amount, though I'm not sure how it will actually work out with them.
-Al
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#14
08-14-2006, 05:27 PM
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Re: $6M Gross - What Do You Do
(me getting 2 chicks at once reference out of the way)
after taxes, this is like $3.5 in CA? or something like that? I would start setting up interviews with trusted investment advisors. someone who can professionally manage my money. I don't know what the floor is for places like Goldman, Morgan Stanley, etc, but this may qualify you for a High Net Worth advisor at these places. after figuring this out I would go on vacation, but my job at first would be to figure this out.
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#15
08-14-2006, 05:28 PM
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Re: $6M Gross - What Do You Do
WTF IS GOING ON AROUND HERE PEOPLE?!?!?!?!?!
H O O K E R S A N D B L O W I sware, some days it seems like I have to do everything around this place!
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#16
08-14-2006, 05:28 PM
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Re: $6M Gross - What Do You Do
[ QUOTE ]
[ QUOTE ] Leave LA for someplace with a far lower cost of living, invest the lump and cruise off of interest. Is the $6M before or after taxes? A modest return of 6% on $6M would be $360k/annum. I.e., don't get funky, just invest and live fine off the juice for the rest of your life. [/ QUOTE ] Exactly. $360K a year is more than enough for two people to live in a comfortable manner in a non-urban environment. [/ QUOTE ] Don't forget the tax burden. They're looking at about $3.5M in after-tax money.
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#17
08-14-2006, 05:30 PM
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Re: $6M Gross - What Do You Do
[ QUOTE ]
A modest return of 6% on $6M would be $360k/annum. I.e., don't get funky, just invest and live fine off the juice for the rest of your life. [/ QUOTE ] I agree. Fwiw, you can lock in 5.11% for the next 30 years with a US Treasury Bond.
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#19
08-14-2006, 05:33 PM
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Re: $6M Gross - What Do You Do
I live in LA and am married. I'm bound to LA for the immediate future for family reasons. Figuring $3.5 - $4 million after taxes, I buy a nice house in the Oaks for cash, invest 3/4 of what's left, and keep the remainder ($100,000 or so) for fun money. Then it's back to work.
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#20
08-14-2006, 05:34 PM
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Re: $6M Gross - What Do You Do
[ QUOTE ]
[ QUOTE ] A modest return of 6% on $6M would be $360k/annum. I.e., don't get funky, just invest and live fine off the juice for the rest of your life. [/ QUOTE ] I agree. Fwiw, you can lock in 5.11% for the next 30 years with a US Treasury Bond. [/ QUOTE ] so this is the absolute bottom of what any investment should return. you should be able to get at least 7% or 8% with an acceptable degree of risk average stock market return over the last 80 years is what, 10%?
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