What do you do with $40 million of lotto?

[Anonymous]

There is the family, they're dysfunctional and you never hear from them unless they want something. So, do you share it or not? How should it be passed on if you have no children of your own?

[Anonymous]

I don't have any children of my own, and I'm not leaving anything to my blood family. But I do have chosen family (partner and best friend) who have been in my life for a very long time. If I predecease the partner, it all goes to him. If he predeceases me, it (all?) goes to me—maybe something for his brother's kids, but I'm not left in a lurch, in any case. The next in line to inherit is our best buddy/sometimes-roommate. He's a musician (lots of degrees, not a lot of income) and he's married to a minister (also a lot of degrees, not a lot of income).

Whether or not they have kids, or if there's anything left over for kids when it's their time, I don't know and won't care as I'll be dead.

If my siblings want to know why I'm cutting them out, its because they have chosen not to speak to me for my adult life. If their kids want to know why I'm cutting them out, it's because they have never once reached out to say "hello." They may as well be strangers. Why would I leave money to them?

[Asker]

They makes perfect sense. If they don't see you as family, how can they expect you to treat them as family.

[jennifer_bloom]

If I get married and we do not have kids, I would adopt disabled people to live with us and get a trust of 5 people to manage our estate if we die with a rule they can only collect normal fees as administrators and must spend the trust entirely on our adopted family.

[Asker]

I am beginning to think that I'll leave everything to my future dogs who may outlive me.

[jennifer_bloom]

Leave it to a children's hospital, an orphanage, a humanitarian organization that feeds poor people, a medical research organization, a disability program, a religious organization. Or you could buy free trade coffee from ethical coffee companies and donate it to hundreds of churches in your city. You could also give money to homeless people or to medical groups in Africa.

[Unit1]

First I'd buy a mansion or a condo in Thailand.

Then I get the Elite Visa for Thailand.

Then for mobility an automobile. I think a Toyota RAV4 will do.

Half of the money would go towards investments, stocks and brokers, where I can swing trade to multiply what I already have.

Living and never having to fear running out of money ever again. I will almost never be without a woman anymore.

After that whatever remains would go towards traveling the world. Maybe also a Ferrari.

And being very strictly childfree. I don't care, that I can't take my money with me after death.

[Asker]

I am not sure that would be a great choice. China has dammed all the source rivers for South East Asia that originate in China, which is most of them. This has led to water scarcity and communities being held to ransom with millions of fish dead and the potential for artificial droughts. With the tensions in the South China Sea, this will escalate and further destabilise the region. That does not speak to a stable investment or secure living.

[Unit1]

I doubt its a huge problem. Life is good in Thailand if you're rich and keep multiplying your money.

[Anonymous]

Id build an animal sanctuary.

[Asker]

I have been looking at a not for profit dog refuge with a no put down policy. I hear it is best to donate in generous but small amounts over a long period of time rather than all at once.

[Anonymous]

Invest the bulk of it. Upgrade my life with the rest. Then take the returns from my investments and use that to live off of and spread around. I would share it with my family. But the family you're describing is not MY family. I want to help people that are trying to help themselves. Not people just looking to exploit my good fortune. In other words it sounds like your money would better served in helping hard working strangers. If you loved your family you'd actually be doing them a favor.

[Asker]

I have heard that giving money to a person can result in their self-destruction because of irresponsible risk taking and poor decision making. What you said makes sense.

[exitseven]

I would get it put into a blind trust and not tell anyone about it. Since i do not talk to anyone anymore nobody will notice when I buy a nice house in a gated community in Florida and spend winters there and summers on Nantucket.

[Asker]

Yet there seems to be a lot of gated community drama in Florida with Karens and crime. Would you really want to live like that?

[exitseven]

I would be careful where I ended up. Make sure I don't end up near a bunch of carpetbaggers from New york

[molonski2]

Well , I'd just build a vastly better portfolio to produce income , pay off any debt , as for wills and the like , thats impossible without knowing the actual scenario.

[aceleon]

no for that type of family.

i don't know a nice house, car and bike, maybe owning a lion or something?

[Asker]

Not to bust you bubble but owners of lions tend to get mauled by them?

[aceleon]

not to bust you but they are most likely gets them while they were not a baby.
there are several who raises them from cubhood and never get mauled, they are not brainless monsters.

[Asker]

I think you can tell that I am not much of a cat person

[aceleon]

normally i prefer dogs too and already own a male gsd for 8 years
but a lion would be cool and i also like feline love language more (dogs licks or make you rub their butts or bellies, cats rubs heads with you and hugs you, i love dogs more but i am more cat like person) also lions are big and i am a size king at everything so i want my animal companions to be big too (the reason 2 i don't own a cat along with my dog being a sociopath)

[TheSpaceGnome]

I turn it into a business and make more money, then I retire. I don't want kids and would just extend my own life with it.

[Asker]

Don't people end up losing it all when they try and make more money from it? I mean, the track record is like 70% of people who win a substantial lottery go broke within years of the win.

[TheSpaceGnome]

They go broke because they spend it all, if you use it to start a business, it makes an endless stream of money.

[Asker]

Yet there are news stories of people who tried their hand at business but the business went under and they lost everything.

[TheSpaceGnome]

1. Don't listen to the news, its primarily bullshit regardless of the source.
2. Almost every business venture had multiple failures before succeeding, had all the ones who suceeded given up after the first failure, 99.9% of businesses would not have existed.

[HelpfulWoman]

easy nah. savings, investment bit and then spend on myself and those that have bothered with me :D

[jahaims]

I took care of my friends and family when I got money. Now I just do what I want pretty much whenever

[Asker]

Did you end up with family knocking on your door who you've never heard of before?

[jamesgoldman]

Enjoy it and invest it for long term income generation

[Asker]

You mean like blue chip investments?

[jamesgoldman]

That sort of thing exactly

[Asker]

The thing is, with $40 mil how is there a need for more money? Even $1 mil could see me through to retirement with an ordinary life. Should the money be used to make more and passed on or should it be spent in entirety?

[jamesgoldman]

You invest it all so you can just take an income without touching the original money

[Jmmmfi4]

GET A COLLEGE DEGREE

[Asker]

After your 4th one. . .

[Jmmmfi4]

MY WHAT? I NEVER EVEN GRADUATED HIGH SCHOOL

[FunkyMonkee]

Give it to me and find out.

[Iron_Man]

Buy GAG

[Asker]

No idea what GAG is.

[Iron_Man]

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