imawino
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Post by imawino on Apr 20, 2021 13:18:07 GMT -5
I'd give away lots of millions! What fun is it to be super rich all alone? I'd rather be slightly-less-super rich with friends. I'd need people to do things with and it would be a bummer if all my friends were stuck working their damn jobs and could not have adventures at the spur of the moment. I don't feel like having to make new rich friends! LOL
Fortunately (well, unfortunately but for this particular circumstance I guess we will call it fortunate) I really only have 2 blood relatives, so they'd get a bunch (at least 10 million each, probably significantly more). My sweetie and I would obviously quit our jobs and buy a nice house or two in dreamy locales. Really nice houses, but not 100 million dollar places. I have no desire for gold-plated, ornate or ostentatious anything. We'd travel, try random hobbies. I'd set up a charitable trust, have scholarships, donate money to causes both charitable and political that move me.
And I'd invest the majority so I'd be able to continue throwing money at causes and politics.
The kids would be kind of a question mark. One is just about to graduate from college and embark on a career, the other is mid-college. I would not gift them a pile of money just yet. Don't get me wrong, they'd have nice things and experiences, but they are so young and need to learn a little about life and work. I don't think it would be healthy for them to have nothing to do and no structure in life beginning at the ripe ages of 19/21. If they wanted an investment in a business that would be one thing. And they would eventually end up with a lot of it, just not today.
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Deleted
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Post by Deleted on Apr 20, 2021 13:38:57 GMT -5
If when you woke up tomorrow you had a billion dollars? Of course I would quit my stupid job! The first thing I’d buy would be a ‘68 Camaro. I’d go pick up a few of my peeps in a limo and if they’re at work, tell them “come with me now, just trust me”. Actually, that’s only 2 people. We’d go celebrate my good fortune, and I’d break them off a little something so they’d never have to work a 9-5 unless they wanted to. The least I can do if I convince them to leave with me and put their job in jeopardy. I’d set something up for my closest loved ones to take care of them for life. That’s a short list, and if they screw up whatever i put in place for them, too bad so sad. Not really sad though. I’d donate to the church I grew up in, in care of the current Pastor. I have the utmost respect for him. The church is in an inner city, poor neighborhood, and I have no doubt that he would use the money I give the church to continue to try to make a positive impact in that community. I’d buy a house somewhere I’d like to live, for a home base. And I’d travel the world. So many places I want to go and so many things I want to see with my own eyes.😍 Oh, and I’d pay one of our children to field all the requests for money I’d receive. I’d be willing to give to charities and even individuals, but not to random people that think I should give them money just because they were in the same first grade class with me. And because I will have taken care of the people I love the most and I’ll be busy exploring the world, I’d buy a Trac phone or whatever and replace it every couple of days. Don’t call me, I’ll call you. What would you do? www.bing.com/videos/search?q=i%27m+on+a+boat+video&view=detail&mid=2CAF742E98B9E25385552CAF742E98B9E2538555&FORM=VIRE0&ru=%2fsearch%3fq%3di%2527m%2bon%2ba%2bboat%2bvideo%26cvid%3d031f63fb1d014ce892253588cbb6b862%26aqs%3dedge.1.0l7.4134j0j1%26pglt%3d163%26FORM%3dANNAB1%26PC%3dU531 Tell you what, if I had a billion dollars, I’d pay for you to be able to make your own video like that. Or just have a boat. I’ll be fine if I never get on a boat again. Not a fishing boat, a yacht or a cruise ship.
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imawino
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Post by imawino on Apr 20, 2021 13:45:38 GMT -5
Tell you what, if I had a billion dollars, I’d pay for you to be able to make your own video like that. Or just have a boat. I’ll be fine if I never get on a boat again. Not a fishing boat, a yacht or a cruise ship. LMAO - you'd at least have to get the "nautical themed pashmina afghan"! Or the mermaid.
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NastyWoman
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Post by NastyWoman on Apr 20, 2021 15:11:27 GMT -5
Sometime in the mid80s I read The Burning Bed which was eye opening to me as I was so naïve that I never even heard of domestic abuse. I started reading up on the issue and I decided if I ever were rich I would start a scholarship fund for women coming out of shelters to get a college degree. It would cover schooling and a stipend for housing food and whatever they need for childcare. I even had a name for the fund and would call it the Up Yours scholarship.
Even just half of a billion dollars would provide a very nice start for that program. I do not want to manage the program myself though as I will be too busy travelling and visiting family.
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jerseygirl
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Post by jerseygirl on Apr 20, 2021 15:20:41 GMT -5
I’m on board of a charity trying to build specialized low income housing for deaf and deaf blind adults. It’s been difficult to find a reasonable property and without a specific location can’t really get grants or large donations to build. So I’d spend $20 million and just get it done. Then I’d want to donate enough to get our names announced as donors on a PBS nature show ( and pick the animal shown in beginning credits) Then some for family (person getting gift doesn’t pay taxes - the ‘gifter’ pays) to maybe buy houses? Education , set up trust funds Much Travel and going to ballets and opera We like our house on a lake but probably would buy another Jersey shore house Have a housekeeper, cook and gardener
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jerseygirl
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Post by jerseygirl on Apr 20, 2021 15:24:39 GMT -5
Oh we used to sail with us and friends as captain/ crew but haven’t in a while I’d charter twice a year and sail in Greece, Tahiti etc bringing sling family and friends - whoever can get time
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Deleted
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Post by Deleted on Apr 20, 2021 16:44:53 GMT -5
I would hire a driver to take us on amazing vacations across America. And a personal trainer at the gym. Maybe someone to prepare some awesome meals for the freezer. And I would definitely get a Range Rover.
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Spellbound454
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Post by Spellbound454 on Apr 20, 2021 16:55:28 GMT -5
I'd like to buy land..... including a forest. I could breed rare animals..... and have some wild horses
and get income from a well managed estate.
A bit like a guardian for the future.
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thyme4change
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Post by thyme4change on Apr 20, 2021 17:03:30 GMT -5
Keep 10 mill or so and use the rest to influence politics. 990 million should keep Trump 2024 at bay. Still like the hit man idea.... With a billion dollars, could I put Fox and Newsmax out of business?
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Post by empress of self-improvement on Apr 20, 2021 17:16:27 GMT -5
Disappear off the face of the earth and open an animal refuge somewhere combined with ALL.THE.BOOKS! Hey. No one gives a shit about me poor so they can keep right on not giving a shit when I'm loaded and nowhere to be found. Well, ok, I may fund my MIL's dementia care. I haven't seen the poor woman in over a year and she still does not know DH died. I feel bad that we can't tell her but her dementia is getting worse and it would not serve anybody to tell her.
ETA: Probably help jersygirl with the home for the deaf and blind since I'm, you know, deaf and blind. Or getting there anyway.
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tallguy
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Post by tallguy on Apr 20, 2021 17:21:28 GMT -5
Still like the hit man idea.... With a billion dollars, could I put Fox and Newsmax out of business? Couple dozen on retainer, package deals for multiples? Shouldn't take long.
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Tiny
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Post by Tiny on Apr 20, 2021 17:35:59 GMT -5
I am very glad you laughed!!! I don't want THEM to have to pay taxes.... I'm "saving" them from the tax man!!! It's a little bit of an inside joke.... they (my family) all complain about the taxes they have to pay (and they are all long time married with kids) and I've been long time Single. I don't really want to have to listen to them complain about the taxes they would have to pay on money I GAVE them - even if the taxes came out of the money I gave them. Any money that goes to taxes is money taken away from them - even if it's part of a gift. (it's a little bit of a Monkey's Paw "gift" to them.) I will gladly pay taxes on the money I use and spend and work with. I probably would shower the friends with more $$ (the one's who fell on hard times due to no consequence of their own actions/decisions - or who just had a bad outcome from a what generally is a "routine" decision. My friends don't complain about taxes. But, I suspect if I were to put my friends on easy street it might mess with their own family/support relationships. I want to help people, not ruin the things they take joy in. Since when and in what situations would the recipient ever have to pay gift taxes? None that I know of. You need to be in my relative's head - though. If they knew I paid 2 million (I made that number up) in taxes on the 10million I gave them - they'd be pissed that they did NOT get that 2 million. And once they invested/saved the 10million I gave them - I assume they'd have to pay income tax on whatever that 10million threw off until the account was 0. I guess they could stuff the 10 million in a mattress to avoid paying taxes... So, it wouldn't exactly be a 'gift tax' but the money I gave them wouldn't exactly be "free". And I'm aware of the weird - cut off your nose to spite your face thing going on with them... They'd want the 10million AND would enjoy bitching about the taxes I paid on it. And they'd probably mention it at any opportunity. (don't you know someone who is always complaining? And nothing is every good enough? When getting a gift - they can't manage a simple "Thank you, you are so thoughtful. " )
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billisonboard
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Post by billisonboard on Apr 20, 2021 17:41:06 GMT -5
Thinking about income and investing: Say you spend $200,000,000 right at the start and then stash the remaining $800,000,000 in cash in your sock drawer to pull some out each month to live on. No interest, just the cash in the drawer. Say you live another fifty years. So 12 months multiple by 50 years would be 600 withdrawals. $1M sounds to me like a nice round number to survive on each month giving you $12M to spend each year after year after year. (With that, realize at the end of the 50 years, there would still be $200,000,000 left in the drawer.) Now, how much investment income would you need over the years?
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Tiny
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Post by Tiny on Apr 20, 2021 18:03:34 GMT -5
I get the "gifting" a house to someone - but what if they can't 'afford' the house? how do set up a perpetual "gift" that covers all the expenses of the house and how is it handled if the recipient of the house wants to sell it? I get that the initial gift is "tax free" to the recipient - but what about the on going expenses associated with a gift like a "dream car" or a "dream house" or some other "dream" thing that someone always wanted? I'm sure my niece would love to own a horse (she rides regularly)- but how do I make sure the horse she can't really afford along with the never ending expense of said horse doesn't become a financial drain? (I know this is not much of a deal with a 1 billion dollar budget). No one needs a Monkey's Paw. Wishes always come with consequences. How do you mitigate the "consequences" when you give someone the thing they wish for? (fwiw the niece and I have had the "be careful what you wish for - you might get it" conversation many times. it's all in the wording of the wish... ADDED: It's kinda like getting a free kitten or puppy... the greatest lie ever told.
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billisonboard
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Post by billisonboard on Apr 20, 2021 18:16:08 GMT -5
I get the "gifting" a house to someone - but what if they can't 'afford' the house? how do set up a perpetual "gift" that covers all the expenses of the house and how is it handled if the recipient of the house wants to sell it? I get that the initial gift is "tax free" to the recipient - but what about the on going expenses associated with a gift like a "dream car" or a "dream house" or some other "dream" thing that someone always wanted? I'm sure my niece would love to own a horse (she rides regularly)- but how do I make sure the horse she can't really afford along with the never ending expense of said horse doesn't become a financial drain? (I know this is not much of a deal with a 1 billion dollar budget). No one needs a Monkey's Paw. Wishes always come with consequences. How do you mitigate the "consequences" when you give someone the thing they wish for? (fwiw the niece and I have had the "be careful what you wish for - you might get it" conversation many times. it's all in the wording of the wish... ADDED: It's kinda like getting a free kitten or puppy... the greatest lie ever told. I admit I am not the most aware of financial stuff. Can't you set up an annuity?
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tallguy
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Post by tallguy on Apr 20, 2021 18:22:30 GMT -5
I get the "gifting" a house to someone - but what if they can't 'afford' the house? how do set up a perpetual "gift" that covers all the expenses of the house and how is it handled if the recipient of the house wants to sell it? I get that the initial gift is "tax free" to the recipient - but what about the on going expenses associated with a gift like a "dream car" or a "dream house" or some other "dream" thing that someone always wanted? I'm sure my niece would love to own a horse (she rides regularly)- but how do I make sure the horse she can't really afford along with the never ending expense of said horse doesn't become a financial drain? (I know this is not much of a deal with a 1 billion dollar budget). No one needs a Monkey's Paw. Wishes always come with consequences. How do you mitigate the "consequences" when you give someone the thing they wish for? (fwiw the niece and I have had the "be careful what you wish for - you might get it" conversation many times. it's all in the wording of the wish... ADDED: It's kinda like getting a free kitten or puppy... the greatest lie ever told. I admit I am not the most aware of financial stuff. Can't you set up an annuity? Easy enough to set up an account under your control and have all of the bills auto-paid from that account.
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nidena
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Post by nidena on Apr 20, 2021 18:41:34 GMT -5
I'd revamp the house I just bought and trade in my car.
After that, I'd fund all the public schools in my city--hell, my state--for computers and hotspots. Internet is quite the necessity nowadays and internet companies are charging $100+ month for it.
Then I'd hit the Medical Debt non-profit website and donate nearly seven digits worth of money. Same with The Bail Project non-profit website.
After that, I don't know.
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Deleted
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Post by Deleted on Apr 20, 2021 18:51:44 GMT -5
Give it to the Bill and Melinda Gates Foundation and carry on as usual.
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billisonboard
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Post by billisonboard on Apr 20, 2021 19:16:36 GMT -5
I need to flee the cold and the conservatives. Hawaii! I just need to have enough money for a multi-million dollar gated estate - not a one bedroom, one bath in a huge retirement condo building - and a personal dedicated Uber Eats driver to avoid having to eat with the tourists.
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sesfw
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Post by sesfw on Apr 20, 2021 20:50:34 GMT -5
What would you do?
First thing is change my phone number. Then get a PO box for all the junk mail that's sure to come.
Go as anonymous as possible. Give a lot to select charities.
Don't think my lifestyle would change that much. At almost 80 yrs of age my ability to do a lot physically is getting smaller by the year.
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countrygirl2
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Post by countrygirl2 on Apr 20, 2021 21:38:30 GMT -5
If I had more money then I could ever use I would lobby congress to pass a national minion wage for people. And also work to get universal healthcare, that would do more for people then anything.
Then work on term limits, if they need to be paid off to do it, so be it.
I might travel some and buy a house much closer town. Would love to have a chauffer, maid, and chef. Those would be really nice.
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billisonboard
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Post by billisonboard on Apr 20, 2021 21:46:19 GMT -5
If I had more money then I could ever use I would lobby congress to pass a national minion wage for people. And also work to get universal healthcare, that would do more for people then anything. Then work on term limits, if they need to be paid off to do it, so be it. I might travel some and buy a house much closer town. Would love to have a chauffer, maid, and chef. Those would be really nice. Kevin would be all for it.
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Bonny
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Post by Bonny on Apr 20, 2021 21:50:47 GMT -5
What would you do?First thing is change my phone number. Then get a PO box for all the junk mail that's sure to come. Go as anonymous as possible. Give a lot to select charities. Don't think my lifestyle would change that much. At almost 80 yrs of age my ability to do a lot physically is getting smaller by the year. I'm pretty sure I've posted about this before. We had a friend win a $35M lottery probably 20 years ago. He changed his mailing address to a P.O. Box. He only received one Fed Ex letter from someone asking for money. I think he was disappointed more people weren't interested in him!
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toomuchreality
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Post by toomuchreality on Apr 21, 2021 2:19:23 GMT -5
I have no idea what I would do. But for starters I would just go buy a new damn vehicle and be done with that stress. Me too!
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toomuchreality
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Post by toomuchreality on Apr 21, 2021 2:42:30 GMT -5
I'd do my damnedest to get a fairy godmother! (After I got a new car 🚙 for me and minnesotapaintlady, of course.)
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buystoys
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Post by buystoys on Apr 21, 2021 6:24:58 GMT -5
I honestly don't know what I'd do. We have all we need and most of what we want. DH has said he's never moving again, so I don't think we'd buy a new house. Ours is already too big for just us.
I would like to start a foundation. Maybe two. One to help disabled veterans and one to help women in need. I'd love to see women getting educated for better jobs and set up a free daycare for those who qualify. I'd have to flesh it out, of course. I've not really thought about it, but those are the type of charities we currently support. Oh! And I'd give more to the food bank we support.
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haapai
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Post by haapai on Apr 21, 2021 6:38:04 GMT -5
I'd have to count the digits another time, or ask the person to repeat themselves, curse my hearing loss, and ask them to write it down.
Then I'd curse again. A billion is too much. That's "you need a team of bodyguards" money and I am an introvert. Maybe I could handle a million or ten million, but a billion would be a curse.
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mary2029
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Post by mary2029 on Apr 21, 2021 8:17:55 GMT -5
I'd have to count the digits another time, or ask the person to repeat themselves, curse my hearing loss, and ask them to write it down.
Then I'd curse again. A billion is too much. That's "you need a team of bodyguards" money and I am an introvert. Maybe I could handle a million or ten million, but a billion would be a curse.
This is where I am. A billion would be way too much for me, but it also isn't enough for what I would want to do... clean up the Pacific Garbage Patch, educate people, and provide infrastructure around the world so this doesn't happen again; buy the Amazon rainforest so it can be saved; or a similar type of goal. I would feel responsible for spending the rest of my life championing the goal, talking to people, fundraising, etc. Sounds like way too much work.
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billisonboard
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Post by billisonboard on Apr 21, 2021 8:57:05 GMT -5
I'd have to count the digits another time, or ask the person to repeat themselves, curse my hearing loss, and ask them to write it down.
Then I'd curse again. A billion is too much. That's "you need a team of bodyguards" money and I am an introvert. Maybe I could handle a million or ten million, but a billion would be a curse.
I have a scheme for how I could live financially stress free and very comfortably for the rest of my life if I win the lottery. It is all cash on hand and not investment income based so no management nor tax issues. $40M works well. $50M would be sweet. An additional $25M or so would be fun to give away. My wife could have fun with $25M also. So $100M would be perfect. I see an amount above that to start being a struggle. Billion definitely a curse.
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haapai
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Post by haapai on Apr 21, 2021 9:52:04 GMT -5
I'd have to count the digits another time, or ask the person to repeat themselves, curse my hearing loss, and ask them to write it down.
Then I'd curse again. A billion is too much. That's "you need a team of bodyguards" money and I am an introvert. Maybe I could handle a million or ten million, but a billion would be a curse.
I have a scheme for how I could live financially stress free and very comfortably for the rest of my life if I win the lottery. It is all cash on hand and not investment income based so no management nor tax issues. $40M works well. $50M would be sweet. An additional $25M or so would be fun to give away. My wife could have fun with $25M also. So $100M would be perfect. I see an amount above that to start being a struggle. Billion definitely a curse. Keeping it all in cash, assuming that it magically appears in the form of cash, is definitely a strategy that occurred to me. I might even go so far as to keep it in an account that does not pay interest until I had lined up a team of financial experts who were bound by confidentiality. (that probably means that they would all have to be either lawyers or shrinks) to help me set up and maintain the necessary buffers against the worst of human nature.
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