What Would You do with $500,000,000?

Discussion in 'Career, Work, Finances and Education' started by ControlledXaos, Oct 16, 2018.

  1. ControlledXaos

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    So with this lottery drawing tonight, someone is about to have a big come up. I got two entries so I at least have a small chance on it.

    I have thought it out and based on my life right now, I could win 1 million dollars and I'd likely quit my job. Buy a nice house in the 190~240k range , a used Tesla and a used Tacoma, pay off my student loans and live off the interest with 1 big vacation and 2 mini small scale vacations a year. I'd spend 3 months doing nothing but working out. After that I'd do some volunteering and maybe house flipping lower income properties or getting a food truck and selling burgers and fries.

    Now on 500 million, things would scale accordingly. Would still take 3 months to get my body right and do absolutely nothing for 1 year but I'd move somewhere else to do that while I planned on selecting a house to live in Atlanta. Alsoset up my immediate family where they were all debt free and able to do whatever they wanted but everyone would have a limit to the trust where if they spent all the money on magic beans, tough titty.

    Probably vacation every 2 months and after I got over that, renovate low income houses for low income people to continue to live in them, volunteering, opening up a non profit men's shelter for non heterosexual males, invest in a fast food franchise and be as stress free as possible.

    Since I a skeleton idea of what I'd do with a massive windfall like that, I'm cursed and would never win lol
     
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  2. Jai

    Jai I'm honing in on my inner freak.
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    Develop my book series into visual media, by a private cottage, donate to charity and put the rest in the bank.

    Winning that large amount is only for the strong minded folks though. The horror stories.
     
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  3. SB3

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    Damn, talk about planning in advance lol
     
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  4. Rico

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    If someone permanently disappears from the boards and they say “winner in Louisiana” then we know...lol

    I dunno, I’m still kind of pissed at black folk at the amount of money we waste on lottery tickets, yet won’t study anything that involves real gains (equity or bond investments, ETFs, mutual funds, etc.).

    I remember, 20 years ago, Earl Graves in Black Enterprise magazine talked about how one majority black ward in Chicago (just one, not all) spent like $16 million a month in lottery ticket purchases. But niggas always crying racism and being broke. If you took just one person’s wasted Megamillions purchase in 1998 and bought ONE SHARE of Amazon stock for $18 (price after its IPO back then) and sat on it until now, that one share is now worth $1800. The stock market, despite Trump rhetoric, recovered under Obama. Even with recent dips, the market has increased in overall value 13% since Obama’s first day in office.

    So, not trying to down the topic, it’s fun to imagine (I’d start a foundation like Bill Gates to find my personal beliefs for society if I had such a pot of dough) but it’s also sad to see so many black folk bypass knowledge of fixed and variable annuities for chance annuities (TV announcer voice: “investing in lottery tickets involves slight risk of win”).

    Also (and this is my own personal hotep conspiracy belief) notice how, despite all the money that black folk across the US spend on tickets, it always seems like Jethro or Buford in rural bumfuck Kentucky (or Jethro and coworkers) always seems to win, black folk in urban areas almost never. The lottery is the greatest trick played on poor blacks, a wealth transfer from the urban poor to rural whites of all incomes.
     
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  5. ControlledXaos

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    Eh. Well there are definitely a bunch of people who by scratch offs and play their pick 3s straight and boxed a lot more than they should, if at all. My little 4 bucks here and 6 and six bucks there isn't going to make much difference in my finances. I never buy tickets until it's frenzy time anyway.

    You're right about investing but no one could have predicted the current state of Amazon, Google, or Apple 20 years ago. But it's a good point. I'm definitely a fan of people who buy Nike stock instead of Jordan's for their kids. I like seeing my little 401k grow too.

    With that let's not forget ...
     
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  6. BlackguyExecutive

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    I would immediately deactivate all of my social media and go off the grid for a bit. After I set some things up, I would quickly create a Foundation and Family Trust. With $500,000,000 no one in my family would be poor (within reason). Like the extremely wealthy, I would use all of the instruments wealth management to my fullest advantage. I would invest 100M into my family trust and merely grow money. I would invest 100M into a foundation that will focus on some of my passion projects. I only have six close friends; I would pay off all of their debts or offer them a 1-time cash payment of $200K. Then I would disappear, spending the rest of my life traveling the world going to all of the wonders and secondary wonders, and tertiary wonders. I would likely be living that penthouse life with spots in New York, LA, London, Tokyo, and Miami.
     
    #6 BlackguyExecutive, Oct 17, 2018
    Last edited: Oct 17, 2018
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  7. SB3

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    Is this the lady who lost a bunch of her money repeatedly paying bail and legal fees for her felon bae?
     
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  8. Rico

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    Ugh I hate when the Illinois Lottery here shows like the one black face who might have won bucks, but neglects to show all the negroes who lost money because they didn’t understand “the fools tax”...

    That being said I’d kick folks in these parts some loot as y’all graciously put up with my screeds...

    Or I’d just give all you mofos a lifetime supply of Rice-a-Roni...lmao

    [​IMG]
     
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  9. ControlledXaos

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    It is. The county finessed that ass. She just bought a whole fleet of squad cars and sponsored the mayor's Christmas party that she ain't invited to.
     
  10. Omega Level

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    First, I would set up a trust within a trust.

    First trust would be the claiming trust that claims the winning ticket. This would be under a corporate name of my choosing of course. Followed by a bridge trust in which the money would pretty much be immediately transferred to under another corporate name of my choice. I want to remain anonymous as possible.

    While there may still be a way to find out who actually won, it will take some work. I won't make it easy for yo ass. By the time someone tries to do all that work, they would just give up. All the while consulting strongly vetted financial advisors.

    Now that I got access to my money, I wouldn't tell my family shit. Not because im selfish, because Im protecting them. It can do more harm than good to make some family members suddenly wealthy. And my family is not doing bad at all. They'll be fine.

    I would move to a condo, come up with a story of obtaining a great job, and live nicely, but not over the top. They would never pry or be the wiser. I would help family often with bonuses and salary I receive from the '' dream job" I got . At least for a full year until I can gather my thoughts, the advice of financial advisors, and come up with a plan.

    Afterwards, travel, nice home, blah blah blah.

    The most fun thing about it to me would be helping those less fortunate. Along with helping charities that are responsible and worthy, I would come up with an anonymous way of giving money to those who need it most.

    Just everyday working class people who need help and never saw it coming or knows who it came from. I mean lets be real, what the fuck can a single gay man do with all that fuckin money? Its just too much.

    But I'll still take it tho... :obama:
     
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  11. Sean

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    My job would be philanthropy. After funding my pet project--building a state of the art facility to house an after-school program that focuses on the performing arts for my community--I will devote a third of my winnings to my foundation. The foundation will give out money primarily for performing arts for under-privileged kids and civics related projects and organizations, but I will also make a small portion of funds available each year for innovative projects and organizations, regardless of what areas they serve.

    Of course, I'd set my fam up. THere's a portion of the urban county that I live in that is rural. We've already clocked land there where I'd build my family's estate. I was obsessed with Australia as a kid, so I'd want to spend time in the entire country.

    I'd also run for office.,,state legislature.
     
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