DebateGate
General Category => 3DHS => Topic started by: kimba1 on March 29, 2012, 04:40:22 AM
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What would your first purchase be?
Mine would be some comfortable shoe, flatfeet is a bitch at my age.
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Mine would be the setting up of a perpetual trust fund to shelter the winnings.
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a lawyer/accountant
but i know thats not what you mean Kimba....
so it would probably be a summer home in Crested Butte, Colorado
(http://i7.photobucket.com/albums/y273/ItsZep/603124d3.jpg)
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Actually bt that was my first thought and likely I'll spent the first year stablizing all that money before anything. Except the shoes of course.
I think i'll likely give college money to all the kids in my family . I'm an asshole and don't care to buy anyone houses or cars. Thats just me
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The odds are astronomically against winning the lottery.
It is not being an asshole to not wish to buy houses and cars for people, unless you wish to.
Buying an education would be a better choice in te long run. Odds are that the benefits would go on far into the future.
Most people have no clue as to what to do when they win. I am sure what I would do, but never buy a ticket. If I am destined to win, I will FIND a winning ticket.
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Not much of problem for me since the lost is $4
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Yeah i just bought 5 tickets. What the heck. Can't win if you don't play.
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Voluntary taxes is the best way of looking at this.
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One quick pick,three by hand random
My rule is never buy more than a good dinner. I'm still safe
Got no problem with voluntary taxe approuch
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Yeah that's why i drove over the state line to buy them in GA. I still have people attending school there.
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Voluntary taxes
oxymoron
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How does one make a perpetual fund?..
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http://www.usnews.com/usnews/biztech/articles/060620/20dynasty.htm (http://www.usnews.com/usnews/biztech/articles/060620/20dynasty.htm)
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How does one make a perpetual fund?..
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The usual way is to invest in something that pays constant annual interest or dividends greater than annual withdrawals.
If you had $1 million invested in a 5% investment, you could withdraw $50K annually forever and still have $1 million in the account. If you took out less, then you could make up for inflation as well.
I would think that one would be well advised to buy and sell specific investments in harmony with the type of investments that are yielding the best dividends and/or interest, as these vary from year to year.
The Permanent Portfolio, the Merger Fund, several types of government bonds and the Sequoia Fund, as well as an index fund based on the Wilshire 5000 would be a good start.
SEQUX, the Sequioa Fund, seeks to imitate Warren Buffett's Berkshire Hathaway Series A stock.
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After all the financial arrangements, my first purchase for myself would be a Tempurpedic bed. An annual contribution to a local charity that I was involved in at one time would be in order. Then, I'd set up a college fund for my new grandson and indulge in gifts for family and friends...and maybe do some travelling.
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The hell with lawyers, accountants, funds, etc. Put it all in a checking account and have a ball.
My first purchase: http://pictures.topspeed.com/IMG/jpg/201110/2011-cadillac-cts-v-v700-w.jpg (http://pictures.topspeed.com/IMG/jpg/201110/2011-cadillac-cts-v-v700-w.jpg)
Street legal, 3year/36,000 mile warranty carrying, 10.98 1/4 mile, Ferrari killing, 700 hp, Hennessey Cadillac v700 "Hammer Wagon". God is good.
BSB
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You surely mean 109.8 in the ΒΌ mile. 10.98 you could do with a malfunctioning golf cart.
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Put it all in a checking account
Banks are only FDIC guaranteed up to $250,000.
That would be a huge loss if God forbid something happened.
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Don't sweat the small stuff CU4. Use 50 different banks, have a couple hundred accounts. No big deal. BTW, my father was a banker and the bank had a customer that kept a million bucks in his checking account. And that was back when a million was serious money.
XO, that's 10.98 seconds from A stationary start.
BSB
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Don't sweat the small stuff CU4. Use 50 different banks, have a couple hundred accounts. BSB
now you're talking....and maybe a few other conservative, safe, investment "parking places".
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Finding a better place to put your lottery winnings would not be a major chore. Even a discount brokerage company would be happy to provide you with a good personal adviser.
So far as I know, no one has lost a dime in a money market account. But that would clearly not be the most profitable choice.
A mix of US, European, Asian and Emerging Market index funds would probably be acceptable.
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Finding a better place to put your lottery winnings would not be a major chore.
Beware of Madoff's!
And it woud be more of a chore than most people think managing 600 million dollars.
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Seriously
I think i would at most keep 30 of it and give the rest away to some education based charity.
I out grew my party ways and the most expensive I desire is a decent easy to maintain home with the best broadband possible.
Ok 10mil set aside in case I buy magic beans. Sadly not impossible
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Madoff never would tell his "investors" what he invested in.
Any reputable brokerage or adviser would do that. It is not all that difficult to find responsible people who could put you on the right track.
If you had any sense at all and 30 million dollars, you could never outlive it if you had even minimal intelligence.
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the very reason I would have a magic bean fund.
those nigerian princes can be tough
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Even Nigerians do not trust other Nigerians with their money.
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I actually know a nigerian and she would confirm that. That scam has cause is still causing damage to that country. If your a bank would you give a loan to any business with the word nigeria on it?
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(http://www.lucianne.com/images/lucianne/DailyPhoto/2012-04-01.jpg)