If You Had Twenty Million Dollars, How Would You Spend It?

[MikeK]

Imagine you hit a lottery and you receive $20,000,000, tax free. What would you do with all that money?

 

[Billy_Kinetta]

Imagine you hit a lottery and you receive $20,000,000, tax free. What would you do with all that money?

Ship it over to my brokered accounts and let my FA indulge himself with the extra numbers.

 

[Borillar]

Buy some land and build a house on the East end of Molokai and retire.

 

[TheOldSchool]

 

[Mr Natural]

Never fly commercial airlines again

 

[Bruce_T_Laney]

Imagine you hit a lottery and you receive $20,000,000, tax free. What would you do with all that money?

Issue myself 400k per year and live on it until I die. It would take fifty years, so I will be safe.

 

[DarkFury]

Buy the board and cyber hang one liberal a month. Love to do it more often but we have a liberal shortage as it is!

 

[IsaacNewton]

I'd corner the market on frozen concentrated orange juice and put Randolph and Mortimer Duke out of business.

 

[TheOldSchool]

Buy the board and cyber hang one liberal a month. Love to do it more often but we have a liberal shortage as it is!

Buy the board

 

[MikeK]

Buy the board and cyber hang one liberal a month. Love to do it more often but we have a liberal shortage as it is!

What other areas of your existence are affected by this powerful tribal impulse? This cannot be the only one.

 

[Mr Natural]

Take $5 million for myself and give the rest away

 

[JOSweetHeart]

Any debt that my mom still has would be paid off. A good sized amount would be given to St. Jude Children's Research Hospital.

God bless you and everyone there and my mom always!!!

Holly

P.S. The rest would go in the bank.

 

[yiostheoy]

Imagine you hit a lottery and you receive $20,000,000, tax free. What would you do with all that money?

Lotteries are not tax free.

The top Federal rate is 39.6%.

The top NJ tax rate (where you live MikeK ) is 8.97%.

Since your state tax is deductible against Federal (for now) the combined effective rate is 45.22% which you might as well get used to since every kind of gain in the USA is taxable at some rate and has been ever since 1913 in case you did not get the message.

So your $20 million x 54.78% really equals a net of $11 million.

And $11 million divided by your remaining lifespan is enough to live high on the hog like a corp executive but not that high on the hog.

Most of the lottery winners have pissed all their money away playing the stock market.

So soon you would be back to dirt poor.

 

[yiostheoy]

Imagine you hit a lottery and you receive $20,000,000, tax free. What would you do with all that money?

Issue myself 400k per year and live on it until I die. It would take fifty years, so I will be safe.

You cannot "issue yourself" anything.

It is all yours from the start.

It is all taxable from the start.

The net you get to keep.

 

[yiostheoy]

You could not afford this.

$11 million is what the boat would cost alone.

 

[Cellblock2429]

Imagine you hit a lottery and you receive $20,000,000, tax free. What would you do with all that money?

/---- I'd buy stock and sell covered calls for $1,000,000 a week and never touch the principle

 

[skye]

I'd buy a huge.....but really huge ....and I mean huge LOL, piece of land with mountains and thousands of big trees ...build a nice, absolutely lovely big cottage .... make the land a Sanctuary for animals, also build an animal rescue centre .....and admit all the creatures big and small who need love and care from close and afar !

 

[Tilly]

I would give it to my brothers and sisters.

 

[RodISHI]

Imagine you hit a lottery and you receive $20,000,000, tax free. What would you do with all that money?

I'd have to invest in some super lawyers first thing at the moment. Tell them to collect from all of the bullies that used local thugs to bully what is owed to us, sue for damages and secure our forever patent permanent like. Then take that money and use it to hire some more people to do some extensive research around the country so the evidence is there that is needed in court. Hire the lawyers again to take care of the issues that the same bullies have bullied other people around with. Take the proceeds from all that, do a little investing in areas I know that bring in good honestly earned money and distribute some of it among honest intelligent people willing to help others in need of help. Keep some for when problems crop up so the well isn't dry so problems can be dealt with it.

 

[Gracie]

Imagine you hit a lottery and you receive $20,000,000, tax free. What would you do with all that money?

Buy a small cottage house on acreage and have it all fenced but in the back, left open for wildlife. Keep enough in the bank to survive on. Help out friends that needed help. Give a nice chunk to the homeless organizations. The rest would go to ASPCA.