Delta4o t1_jb4cx9p wrote
I wouldn't even know what to do with that much money. I have 5K in the bank and I don't even know what to do with it. I'd keep it a secret and anonymously donate most of it to charities, family, friends and probably invest the rest in initiatives to make houses more sustainable for those who can't afford it.
templar54 t1_jb4g6mj wrote
Invest all of it into stable stocks, you would have quite high stable income for the rest of your life. You basically could spend the rest of of your life doing whatever you want instead of spending larger part of it at work.
KaimeiJay t1_jb4u19i wrote
Where’s that one re-linked Reddit comment about the step-by-step on what to do when you win the lottery when I need it….
Edit: Found it.
[deleted] t1_jb52vm4 wrote
It doesn't tell the whole story though, especially that 'you're fucked' segment.
If you're a generally sensible person in your normal life, you have nothing to fear from winning a lot of money.
There's a lot of confirmation bias in the research in regards to lottery winners, because many don't go public with their win and are not studyable (is that a word?).
The ones that do go public, and are therefore able to be researched, generally tend to be the more stupid winners.
Because no one sane or clever, would tell the world they just won 700m dollars.
__FilthyFingers__ t1_jb5qyj3 wrote
Also, those who are sensible with their money are FAR less likely to gamble it away.
BloodAndTsundere t1_jb62zjs wrote
> There's a lot of confirmation bias in the research in regards to lottery winners, because many don't go public with their win and are not studyable (is that a word?).
I think the bias might be a selection bias. The bulk of lottery tickets are likely purchased by the people who are least likely to make good decisions with money, demonstrated by the fact that they spend a lot on lotto tickets.
Enk1ndle t1_jb4ze6w wrote
"high stable income" in this case being 10s of millions a year. It's kind of crazy.
imjoiningreddit t1_jb5xu79 wrote
r/dividends is calling. Put $50 million in a 3% dividend etf stock and passively earn $1.5M a year for your life and your kiddos
[deleted] t1_jb5xvc9 wrote
[deleted]
mynameisjiyeon t1_jb4gic6 wrote
Assuming you’re talking about ops 5k. 5k in stocks isn’t going to earn an income that will allow them to retire…
If you’re talking about the lotto winner, they don’t need to invest in anything and the money should last a few generations
templar54 t1_jb4gpjn wrote
Lottery of course. With money being invested at least in theory they would last longer. With large sums it is logical to make money work for you instead of just directly spending it.
Desperate_Brief2187 t1_jb6j3p4 wrote
You have no idea how money works. Or people…
Delta4o t1_jb4h7zg wrote
I'm in the middle of moving out. I do buy premium stuff but once I do, I'm very happy with the stuff that I have. In the long run I save a lot of money. I do plan on putting everything that I don't use in managed stocks for the next couple of years because the way how things are going I have little to no faith in having a pension fund when I retire.
kent_eh t1_jb57jh9 wrote
> I wouldn't even know what to do with that much money.
Becoming a "former employee" would be high on my list of priorities.
SEA_tide t1_jb4qik8 wrote
The state of Washington prohibits winners from being anonymous. Note however that the winner didn't have any publicity photos taken, which is something, but there are likely photos of them out there somewhere.
UnpopularCrayon t1_jb510d4 wrote
I've got to think that if you can hire the right team of lawyers, you can come up with a way to claim it without revealing your identity. If not, I'd be changing my name right after.
SEA_tide t1_jb51mu0 wrote
A number of states have laws specifically disallowing lottery winnings to be claimed by more than 1-4 people and require that their full names be disclosed. A name change later on is an option though.
[deleted] t1_jb53d84 wrote
It's funny to see how much worse the USA is in regards to lottery wins, than my country (UK)..
I always think of rights to privacy, less state intervention, less taxes, etc when I think of the USA. A country where individualism is king.
Yet in the UK you never have to tell anyone you've won a jackpot on a lottery, and there's zero taxes on gambling winnings.
Seems like such a cursed monkey paw wish to win hundreds of millions, only to have to broadcast the fact to everyone by law.
In the UK there's a running theme of big winners regretting going public (by choice)..
kevo31415 t1_jb6tmmd wrote
One of the only reason lotteries are legal (many are state sponsored) is the government tax the crap out of it. With that much money, there is also a history of fraud and cheating, so it doesn't surprise me that state governments are anal about lottery winners being on the public record.
UnpopularCrayon t1_jb536gx wrote
Right, but say it is claimed by one person. An attorney. Who you hired and contracted to claim it. And the money is then transferred into a trust for you by the attorney.
[deleted] t1_jb52jje wrote
I'd start my own charity around niche causes I feel passionate about.
Tha_Watcher t1_jb5eeab wrote
I know a lot of people have said this but you don't know what desires are lurking underneath your subconscious until that time comes!
Mooseymax t1_jb5wxtt wrote
I don’t live in the US but I feel a top answer has to be leave the US
psychord-alpha t1_jb5pd4e wrote
I hate that I know exactly what to do with it and yet somehow I never catch a break
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