A good thought process and analysis of the big “what if”. I think a lot of people spend too much time thinking about this scenario, seeing it is statistically improbable that we would ever have to really deal with it. For me, I would put it into interest bearing government secured bonds and live off the interest. At that point, I’d be done. No market risk, just send me a check every month.
I think 350 million would be a good entry position into TSLA. Think about how much entertainment value there would be in watching your fortune skyrocket and plummet, over and over.
Investing indirectly thru mining stocks/funds maybe better bet. ALL tech (still) relies heavily on it incl NEVs. SpaceX and or starlink thru pre ipo indirect means incl banks invested (Fidelity and BOA?) Space mineral mining w/asteroids quietly growing over yrs and set to be worth mult trillions over decades. Good doc videos on YT. PS: you’re actual lump sum payout minus taxes woukd be less then half but still a lot.
A large market drops happen and due. Can you handle 100% equities? If you lose 30% to 50% in a month, week or day? Are you: A) calm/ish? See a sale? B) panicked/living in bathroom? Know your limits. Can you afford large losses esp if over months or years? Hope for the best and prepare for the worst. PS: Rob why do prefer holding mutual funds vs index or ETFs?
I’d pay off my families mortgages anonymously. I would give $500 tips to deserving people, randomly. I don’t like charities. Usually the fat cats at the top keep more than they give out. I would create a my own charity that helps people in need. I would put my family members ( all college graduates/professionals) on the board and all would be able to make plans and decisions as to who they would award the $$$$. Of course I would pay them great salaries. I would pay people to read important books.
If you win $500M what will be your asset allocation? 80/20 because, what the hell... i can lose half of my money and still be rich? or maybe will do a 50/50 because, i don't need the extra risk? will you change your answer if it will be $5M?
I would eliminate the mortgage for 4 kids, provide them each a small gift, and sit on the rest. I would become one of those people that sits on a pile of “cash” liquidity and whinges about all their problems. 😂. I would not drastically change my lifestyle, I do not aspire to be a risk star.
I would NEVER give any money to "Charity." That is nothing more than handing it over to another CORPORATION where the fat cats get the money. People are better off going to the grocery store and paying peoples groceries as they stand in line. Pay attention to the person who is pushing their cart with a note paper in hand and calculating the cost of each thing they put in their cart. Go to your local power company and ask them for a list of people that are delinquent on their bill and PAY IT. Start a "charity" yourself and go to the local vets office and create a fund to pay for people that have pets that need surgery and they can't afford to pay. Many times pets are put down for this exact scenario.
I would review my trust/will and increase the amount being donated or given at my death in case something happened before I figured out what to do with it.
A good thought process and analysis of the big “what if”. I think a lot of people spend too much time thinking about this scenario, seeing it is statistically improbable that we would ever have to really deal with it. For me, I would put it into interest bearing government secured bonds and live off the interest. At that point, I’d be done. No market risk, just send me a check every month.
The state of Florida allows a winner 90 days of anonymity, then the name and city of the winner is made public.
I've thought about that seriously and I thought the same way- I don't think it would be a blessing actually.
I think 350 million would be a good entry position into TSLA. Think about how much entertainment value there would be in watching your fortune skyrocket and plummet, over and over.
Investing indirectly thru mining stocks/funds maybe better bet. ALL tech (still) relies heavily on it incl NEVs. SpaceX and or starlink thru pre ipo indirect means incl banks invested (Fidelity and BOA?) Space mineral mining w/asteroids quietly growing over yrs and set to be worth mult trillions over decades. Good doc videos on YT. PS: you’re actual lump sum payout minus taxes woukd be less then half but still a lot.
And use leverage too....for extra fun.
26:30 "Don't read into the stars." I've never been much for Vanguard astrology. ;)
On lottery winnings, why not Munis, seemed like you won the game, no need to keep playing.
A worker at the lottery once told me You need to get a Trust setup to remain annonynoums.. I didnt win but I asked what if...
A large market drops happen and due. Can you handle 100% equities? If you lose 30% to 50% in a month, week or day? Are you:
A) calm/ish? See a sale?
B) panicked/living in bathroom?
Know your limits. Can you afford large losses esp if over months or years? Hope for the best and prepare for the worst.
PS: Rob why do prefer holding mutual funds vs index or ETFs?
I think you would be a great guest for odd lots
Love powerball
I'd be concerned about jealousy from others. They might think that's my money that I spent on those tickets.
This is not connected to the dough roller podcast correct?
Put winnings on bonds in a brokerage acct. No state or local tax. 😂
I don’t know what I would do, but I do know what I would not do.
Other financial channels mine are Joseph Carlson & Dave Ramsey
I’d pay off my families mortgages anonymously. I would give $500 tips to deserving people, randomly. I don’t like charities. Usually the fat cats at the top keep more than they give out. I would create a my own charity that helps people in need. I would put my family members ( all college graduates/professionals) on the board and all would be able to make plans and decisions as to who they would award the $$$$. Of course I would pay them great salaries. I would pay people to read important books.
Having mulitple IRA accounts sounds like a lot of work keeping track of how much to invest in each without going over and getting penalized.
If you win $500M what will be your asset allocation?
80/20 because, what the hell... i can lose half of my money and still be rich?
or maybe will do a 50/50 because, i don't need the extra risk?
will you change your answer if it will be $5M?
Buy the Bums and move them back to Brooklyn. Go Angels!
to answer your question of what other finance channels I watch it, it would be: Jarrad Morrow, Ben Felix, and Kostadin Ristovski, ACCA
I would eliminate the mortgage for 4 kids, provide them each a small gift, and sit on the rest. I would become one of those people that sits on a pile of “cash” liquidity and whinges about all their problems. 😂. I would not drastically change my lifestyle, I do not aspire to be a risk star.
I’d make my family all millionaires.
Cannot agree more >__< Just sit on it for a while
I would NEVER give any money to "Charity." That is nothing more than handing it over to another CORPORATION where the fat cats get the money. People are better off going to the grocery store and paying peoples groceries as they stand in line. Pay attention to the person who is pushing their cart with a note paper in hand and calculating the cost of each thing they put in their cart. Go to your local power company and ask them for a list of people that are delinquent on their bill and PAY IT. Start a "charity" yourself and go to the local vets office and create a fund to pay for people that have pets that need surgery and they can't afford to pay. Many times pets are put down for this exact scenario.
I would review my trust/will and increase the amount being donated or given at my death in case something happened before I figured out what to do with it.