powerball

Home ▸ Archive ▸ Serious Business ▸ powerball
G

gut

Senior Member

15,058 posts
Nov 28, 2012 2:20 PM
FatHobbit;1331392 wrote:Lol, I'm not sure I'd want to own a strip club. If I were going that far I'd build my own brothel.
Now you're thinking. Bring back the harem!
Nov 28, 2012 2:20pm
lhslep134's avatar

lhslep134

why so serious?

9,774 posts
Nov 28, 2012 2:22 PM
I'd probably not go too crazy since I still have 1.5 years left in law school. Definitely set about $75 million aside in various savings accounts just accruing interest. I'd start a law firm with a couple buddies, buy a couple nice $70,000 cars instead of a $200,000 (eh who am I kidding I'd probably have to get a Lamborghini for kicks).

The first thing I would do though is buy my parents whatever they wanted.
Nov 28, 2012 2:22pm
sleeper's avatar

sleeper

Legend

27,879 posts
Nov 28, 2012 2:23 PM
lhslep134;1331396 wrote:I'd probably not go too crazy since I still have 1.5 years left in law school. Definitely set about $75 million aside in various savings account just accruing interest. I'd start a law firm with a couple buddies, buy a couple nice $70,000 cars instead of a $200,000 (eh who am I kidding I'd probably have to get a Lamborghini for kicks).

The first thing I would do though is buy my parents whatever they wanted.
A savings account? The fuck?
Nov 28, 2012 2:23pm
lhslep134's avatar

lhslep134

why so serious?

9,774 posts
Nov 28, 2012 2:26 PM
sleeper;1331397 wrote:A savings account? The ****?
You know how much interest can be generated with millions? Obviously you do. Notice how I haven't accounted for all of the money. It wouldn't all go into savings accounts.
Nov 28, 2012 2:26pm
Raw Dawgin' it's avatar

Raw Dawgin' it

Just Ain't Care

11,466 posts
Nov 28, 2012 2:30 PM
said_aouita;1331382 wrote:If you win, can I be your monkey?

(edit) I'd get one of these.



and one of these if/when they become available.
lol i'm pretty sure you don't need to be a lotto winner to buy a 90s subaru
Nov 28, 2012 2:30pm
se-alum's avatar

se-alum

The Biggest Boss

13,948 posts
Nov 28, 2012 2:30 PM
lhslep134;1331396 wrote:I'd probably not go too crazy since I still have 1.5 years left in law school. Definitely set about $75 million aside in various savings accounts just accruing interest. I'd start a law firm with a couple buddies, buy a couple nice $70,000 cars instead of a $200,000 (eh who am I kidding I'd probably have to get a Lamborghini for kicks).

The first thing I would do though is buy my parents whatever they wanted.
I would skip the whole starting a law firm thing. It would be rather pointless really, unless you just took Pro Bono cases, then that would be cool.
Nov 28, 2012 2:30pm
G

gut

Senior Member

15,058 posts
Nov 28, 2012 2:31 PM
sleeper;1331397 wrote:A savings account? The ****?
With $100M+ you'd have to open dozens to avoid getting slaughtered in a bank collapse. Probably have to go offshore or Swiss. Even brokerage accounts are only insured for $500k, I think.

I'd probably open a family office for my investments and place money with mostly hedge funds and PE firms. Maybe some VC funds, but that's even tougher to pick a winner than a PE firm. Buy some land and direct investments in commodities.

Mainly the goal would be to generate a return for charitable giving and preserve capital to pass on to kids.
Nov 28, 2012 2:31pm
sleeper's avatar

sleeper

Legend

27,879 posts
Nov 28, 2012 2:32 PM
lhslep134;1331399 wrote:You know how much interest can be generated with millions? Obviously you do. Notice how I haven't accounted for all of the money. It wouldn't all go into savings accounts.
Yeah I'm sure that .01% is really going to generate a lot of money. :rolleyes: They might give you a bump up to like .08% if you shop around a little bit.

Look, I tell you what. If(large if) you win the lottery, let me manage your money. Any return above a savings account I get to keep 40%. Deal?
Nov 28, 2012 2:32pm
Rotinaj's avatar

Rotinaj

Senior Member

7,699 posts
Nov 28, 2012 2:34 PM
First thing I would do is round up all of my friends hot sisters and moms and make a porno. Send the video out to them as a Christmas gift.
Nov 28, 2012 2:34pm
G

gut

Senior Member

15,058 posts
Nov 28, 2012 2:38 PM
lhslep134;1331399 wrote:You know how much interest can be generated with millions? Obviously you do. Notice how I haven't accounted for all of the money. It wouldn't all go into savings accounts.
Interest rates are basically nothing right now. But you're going to need some liquidity for expenses, which I could easily see being $6-$700k a year (just do the math on property taxes and maintenance on 3 houses).

If you wanted to trust in the good faith and credit of the US govt, you could go ultra-conservative and stagger treasuries and live ridiculously off $2M+ in interest every year.
Nov 28, 2012 2:38pm
lhslep134's avatar

lhslep134

why so serious?

9,774 posts
Nov 28, 2012 2:38 PM
gut;1331407 wrote:With $100M+ you'd have to open dozens to avoid getting slaughtered in a bank collapse. Probably have to go offshore or Swiss. Even brokerage accounts are only insured for $500k, I think.
This. It would be spread out over many accounts. Hence the term "various accounts" sleeper lol
Nov 28, 2012 2:38pm
R

raiderbuck

Senior Member

1,623 posts
Nov 28, 2012 2:39 PM
sleeper;1331408 wrote:Yeah I'm sure that .01% is really going to generate a lot of money. :rolleyes: They might give you a bump up to like .08% if you shop around a little bit.

Look, I tell you what. If(large if) you win the lottery, let me manage your money. Any return above a savings account I get to keep 40%. Deal?
40% of my returns? lol no thanks.
Nov 28, 2012 2:39pm
Trueblue23's avatar

Trueblue23

BASEDgod

7,463 posts
Nov 28, 2012 2:39 PM
Rotinaj;1331411 wrote:First thing I would do is round up all of my friends hot sisters and moms and make a ****o. Send the video out to them as a Christmas gift.
Murica.
Nov 28, 2012 2:39pm
lhslep134's avatar

lhslep134

why so serious?

9,774 posts
Nov 28, 2012 2:40 PM
se-alum;1331405 wrote:I would skip the whole starting a law firm thing. It would be rather pointless really, unless you just took Pro Bono cases, then that would be cool.
I came to law school because I like arguing and I like winning, so that's why I'd still do it. Would definitely do a lot of pro bono/very low fee cases for families that need a lawyer but can't necessarily afford it.

Oh and I'd move back to Ohio. I like Arizona, but I miss Cleveland and OSU games.
Nov 28, 2012 2:40pm
sleeper's avatar

sleeper

Legend

27,879 posts
Nov 28, 2012 2:40 PM
raiderbuck;1331419 wrote:40% of my returns? lol no thanks.
It's a little pricey, but when you deal with someone who thinks 75 million in a bank account is the best way to go it's easy money.
Nov 28, 2012 2:40pm
sleeper's avatar

sleeper

Legend

27,879 posts
Nov 28, 2012 2:41 PM
lhslep134;1331422 wrote:I came to law school because I like arguing and I like winning, so that's why I'd still do it. Would definitely do a lot of pro bono/very low fee cases for families that need a lawyer but can't necessarily afford it.

Oh and I'd move back to Ohio. I like Arizona, but I miss Cleveland and OSU games.
Hopefully you like paperwork too.
Nov 28, 2012 2:41pm
lhslep134's avatar

lhslep134

why so serious?

9,774 posts
Nov 28, 2012 2:42 PM
gut;1331414 wrote:
If you wanted to trust in the good faith and credit of the US govt, you could go ultra-conservative and stagger treasuries and live ridiculously off $2M+ in interest every year.
That's a solid option, but the former part of your post is a leap of faith I'm not making
Nov 28, 2012 2:42pm
lhslep134's avatar

lhslep134

why so serious?

9,774 posts
Nov 28, 2012 2:42 PM
sleeper;1331424 wrote:Hopefully you like paperwork too.
That's what clerks are for.
Nov 28, 2012 2:42pm
S

sportchampps

Senior Member

7,361 posts
Nov 28, 2012 5:26 PM
What time is the drawing
Nov 28, 2012 5:26pm
sleeper's avatar

sleeper

Legend

27,879 posts
Nov 28, 2012 5:27 PM
sportchampps;1331615 wrote:What time is the drawing
10:59p ET
Nov 28, 2012 5:27pm
SportsAndLady's avatar

SportsAndLady

Senior Member

35,632 posts
Nov 28, 2012 5:44 PM
lhslep134;1331425 wrote:That's a solid option, but the former part of your post is a leap of faith I'm not making
Id drop mine in muni bonds, most likely. They're tax friendly and relatively secure.

More than anything though, id invest in hard assets so in case every bank and government agency I have money with collapses, my hard assets are always there.

Id buy my parents whatever the fuck they wanted..brothers (dey durkie) and sisters too. My good friends id throw a couple hundred thousand.

Throw some money in various stocks and funds, for "fun" I guess.

Other than that...id maintain my career, wouldn't change my personality and my friends, I'd just ball out infnitely more than I do now outside work.
Nov 28, 2012 5:44pm
G

gut

Senior Member

15,058 posts
Nov 28, 2012 5:50 PM
SportsAndLady;1331626 wrote:Id drop mine in muni bonds, most likely. They're tax friendly and relatively secure.

More than anything though, id invest in hard assets so in case every bank and government agency I have money with collapses, my hard assets are always there.
Muni's----talk about risk. Tread very carefully there. But I agree about sovereign debt as not many countries look so hot.

Equities have, and should, perform well with inflation as profits increase with rising prices. But if you have massive govt defaults and chaos all bets are off.

For that matter, you might be better off with a diversified portfolio of global AAA-corporates. At least if things go to hell you have some claim on hard assets that can create value (since most govts don't really have assets they would or could really sell). You'd get a better rate of return, too.
Nov 28, 2012 5:50pm
Ironman92's avatar

Ironman92

Administrator

49,363 posts
Nov 28, 2012 6:15 PM
Custom house where I live now and an elite riverfront apartment in Cincy (I'm going to be at a lot of Reds games)....upgrade all 3 cars about 2 or 3 notches....pay all debts.

Build each of my wife's brothers and her parents a nice house and reasonable cars for each....lump amount for all and monthly installments to avoid blowing for the brothers.

Make sure Mom and Dad get whatever they want. Set my sister up well but with payments every other week (make her save before she blows it)

Donate huge amounts to my alma mater and also my current district.

Single lump payments of money to those around me....the closer the more they get.

Award many many scholarships for those that need it.

Huge recreation facility/park that I would run/maintain.

Open a Butterbees type restaurant here in town.

Golf much.

Kids and next 2 generations set.
Nov 28, 2012 6:15pm
Pick6's avatar

Pick6

A USA American

14,946 posts
Nov 28, 2012 6:21 PM
SportsAndLady;1331626 wrote:Id drop mine in muni bonds, most likely. They're tax friendly and relatively secure.

More than anything though, id invest in hard assets so in case every bank and government agency I have money with collapses, my hard assets are always there.

Id buy my parents whatever the fuck they wanted..brothers (dey durkie) and sisters too. My good friends id throw a couple hundred thousand.

Throw some money in various stocks and funds, for "fun" I guess.

Other than that...id maintain my career, wouldn't change my personality and my friends, I'd just ball out infnitely more than I do now outside work.
durkie is really your brother?
Nov 28, 2012 6:21pm
G

gut

Senior Member

15,058 posts
Nov 28, 2012 6:54 PM
Depends on how much you win. If we're looking at $100M+, I'd be a lot more generous with friends and relatives. Probably set-up a trust to pay-out like $50k per year for 20 years. It would be a terrible mistake to give most people a large lump sum. The trust also gives you cover if they come back for more money "what do you mean, you're getting another $50k this year just like every other year"

Don't know if I'd equally split the rest with my siblings, but they'd all get over $10M for sure. I'd still be left with maybe $50M or more.

Depending on how close you are with your brothers and sisters, if you didn't really set them up I think it would be more strain on the relationship than it's worth. Whether they would have been more generous if it was reversed is beside the point - they'll believe they would have. If you've got $100M you have to give the immediate family each more than $1M.
Nov 28, 2012 6:54pm