Suppose you win 100 million. What do you actually do with it? Banks only guarantee 250,000. Do you have to invest it? Is there anywhere you can just let it sit and draw interest?
I’d buy a nice house somewhere a bit wild and in the middle of nowhere on the south coast of either England or Wales, something old with character and a big garden with a good pub nearby. I’d also buy a classic wooden sailing yacht and put enough funds aside to maintain her as well as kitting her out for serious passage-making. When I’d done that I’d figure out how much money I need to make work optional for the rest of my life and how much would keep my family comfortable in an emergency, as well as a small ‘shit hits the fan’ fund kept in something you don’t need electricity to access like gold just in case. I’d then donate the rest to charity, the bulk to enviromentalist lobby groups and charities directly helping people (the RNLI comes to mind for example) but also to a few niche causes like keeping the ailing pirate radio ship Ross Revenge afloat and starting a breeding programme to save the highly endangered otterhound. I’d also like to have a few documentaries made, and I’d drop a few content creators I like some donations too.
Honestly all I really want to do is go sailing and not have to deal with the rat race, I don’t want to live an oligarch’s lifestyle and I definitely don’t want the sort of attention and arseache that money would bring you. That money would be far more effectively used for good in the hands of others so I’d end up donating the majority of it, I suspect on the order of 80% of it at least.
Can you invest with gold to guarantee it? If so then that.
Gold isn’t guaranteed to outpace inflation. It usually does, but not always. Moreover, over periods of time, it’s a poor investment compared to riskier assets such as stocks. Investing in the gold market (mining, etc) can be a little better, but nothing is guaranteed about gold. It’s not difficult to beat gold as an investment.
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Two million is hardly anything for retirement. If you’re in your 50s then that’s only 66k a year until you’re 80. Unless you’re about to die that’s an absolute pittance. If you’re younger then that’s even less per year. You can’t think of retirement as “oh I only need this much money”, you have to think of it as paying yourself your yearly salary until you die. Life expectancy has massively gone up, so has inflation. If you live to 65 in the USA you have an average extra expected years of 15-20, so up to 85 years life expectancy in certain states. If you’re retiring at 30 you’ll be looking at 55 years of paying yourself. If you want a decent “salary” you’re looking at at least 5.5 million.
You would not just store it in a bank account collecting no interest.
You would invest it and could easily live off the dividends.
That really isn’t how stuff works. I don’t understand how you’re getting upvoted at all. Do you have a financial advisor? Do you actually have investments and accounts for retirement? Investing two million and trying to live off the dividends would give you pretty much nothing each year, from a cost of living perspective.
What? $66K in the USA is more than most. It can be a really great life. How the fuck can $66K be a pittance?
Editing to add: Real median household income was $70,784 in 2021
That’s like one ambulance trip
Also, 66k with no rent or car payments.
Who ever said you wouldn’t have rent or car payments?
If you started with $100M, you definitely could buy yourself a house and car before donating the rest. Hell, you could buy it out of the $2M and still be better off than most folks.
They clearly said what they were going to do with their money. That was not in the list. If you want to start going outside of the list then that’s fine, but don’t pretend that that’s what OP said.
Omg this is the most redditor argument I’ve seen off reddit. No one likes a pedant.
Also, they do state they would pay off their mortgage, so not only are you a pedant but also a wrong one at that.
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only 66k a year until you’re 80
motherfucker i make like 12k a year
How old are you and where do you live? That completely matters.
You give it specifically to me so I can fund the production of a fighting game or something
fund guerrillas?
Doing the opposite of the time Coca-Cola hired anti-union assassins in Columbia
You could fund both!
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100m $ !? Other than buying all things I and my family need, I may invest a in real estate that I could rent, and put the rest in the bank.
put it in the too big to fail banks, those are likely to be bailed out completely regardless of FDIC limits.
if you give me the money, ill put 3mill in a bank and give the rest to certain political organizations…
A self sufficient bunker in New Zealand?
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Get someone qualified to manage it.
Figure out how much I would need to live the rest of my life comfortably without having to work on anything I didn’t want to.
Invest the rest in helping others that want to do good.
Two chick’s at the same time.
Those are some expensive chicks
More than once I bet
Ten year lease?
Fuckin’ A, man.
That’s it? That’s the only thing you’d do if you had a million dollars?
Damn straight. I always wanted to do that, man. And I think if I were a millionaire, I could hook that up too.
100 mil, who want those cheap 1 mil girls?
So… 3 then?
Buy 100m of S&P 500, live off dividends with stealth wealth and no work.
Buy more hard drives and some 10gig networking gear. Cut my hours at my job to like 20 a week
Just invest enough to draw on to cover your basic needs for life and be secure, and spend the rest on things people you know need. Improve the place you live. Fix something small. Build some parks with low income housing nearby. Don’t be a dick and buy shit just to buy shit for yourself.
