Congratulations you won the lottery! Now what? (rar)

[PeZook]

Ah, but you see, when you're rich, you can just get a guy to oversee your investments for you and just check periodically to see if your money isn't gone or something.

[salm]

Yeah, but who cares? I´ve got more money than i´ll ever be able to spend. There´s no benefit in increasing the amount of money i have.

[PeZook]

What about your kids? I'd like them to be able to live it up a little, too

Besides, by investing in industry, you help a lot of people.

Although when it comes to children, I'd like to think I'd set up their trust funds to be SECRET, or tied to their grades at worst. I don't want my son to grow up a male Paris Hilton.

[Hillary]

Yeah, but who cares? I´ve got more money than i´ll ever be able to spend. There´s no benefit in increasing the amount of money i have.

If you are a true full-blown hedonist, you'll be able to spend it/lose it easily. You won't have a clue how you did it, but it'll be gone all the same.

[His Divine Shadow]

I would probably be quite paranoid about investing the money, maybe have several companies handle parts of the fortune rather than one company having access to most of it.

[Hillary]

I would probably be quite paranoid about investing the money, maybe have several companies handle parts of the fortune rather than one company having access to most of it.

That's not paranoid, simply prudent investment policy.

[salm]

What about your kids? I'd like them to be able to live it up a little, too

Besides, by investing in industry, you help a lot of people.

Although when it comes to children, I'd like to think I'd set up their trust funds to be SECRET, or tied to their grades at worst. I don't want my son to grow up a male Paris Hilton.

I don´t have/want kids.

And i don´t want to help people by investing my money in industry as that comes with work. Even if you have people doing the organizing you still have to oversee them or they will rip you off. And overseeing people to not rip you off is one of the most tedious types of work out there because you permanently have to keep the feeling of distrust. If you didnt´t distrust them, you wouldn´t have to oversee them, after all.

Like mentioned before there´s going to be a large chunk of money that can go to social organisations. I don´t care if they invest it in industry or something like that as long as i don´t have to do any work for it.

[salm]

Yeah, but who cares? I´ve got more money than i´ll ever be able to spend. There´s no benefit in increasing the amount of money i have.

If you are a true full-blown hedonist, you'll be able to spend it/lose it easily. You won't have a clue how you did it, but it'll be gone all the same.

I guess that depends heavily on the individual. But if you don´t consider a life without ever having to work and being able to buy pretty much anyithing you want as "full blown hedonist" then let me relativize this by calling it "half blown hedonist".

[adam_grif]

I think it goes without saying that we all get the legal team to draw up a prenup, too.

[Aaron]

Kinda fucked if your already married then.

[mr friendly guy]

.

2. As is standard you can accept a lump sum of 1/3rd the price after taxes and fees are withheld in the amount of 200 million dollars. Or you can take a twenty year annuity of 30.5 million dollars, after taxes lets say it comes to 20 million a year for simplicity's sake.

Well AFAIK in my country we aren't taxed for lottery winnings.

But I would take the $20 million a year. Start investing by myself. So far I had a small amount of success in the stock market, so I would like to play it a bit longer. With my second batch of $20 million I would invest in property. I would also seek help from a financial advisor to set this up my assets as tax effective as possible.

On a personal note, I would considering quitting work for a year for personal development, like learn a second language or just chill out. Then I would go back to work the second year but without the urge to study ridiculously hard for the chance to pass exams and become a specialist. I mean why do I need to become a specialist except for personal satisfaction, since I am already a multi millionaire. The personal satisfaction of being a specialist can't outweigh being a multi millionaire. I would only work because there is a shortage in my profession and I need something to do so I don't get bored, and because I want to contribute to society.

I would also more than double my solar panels, and think about getting an electric car so I would truly be carbon neutral (currently in summer my solar panels produce more energy than I use). I would also get a grey water system to be more environmentally friendly.

And after the first month when I earn shit loads of interest I am going to become the top donor of a particular microfinance charity I donate to, instead of 22nd.

And the other thing I need to do is to create that unbeatable Magic the Gathering deck I saw on youtube, including rare cards selling for a few hundred dollars. Just for that special occasion when my old buddies come back and I go, lets play magic again like old times. This would be followed by me annihilating them on first shot without them even casting a spell.

[adam_grif]

Postnuptial agreements exist. Although you can't force them to sign.

Or can you?

[GrandMasterTerwynn]

Take the lump sum, put a good legal and financial team on permanent retainer, very quietly move to a gated community, and go right back to work the next day, and life goes on . . . no, scratch that. When I go to work the next day, I'd be immediately putting in an application to go work at the corporate office in Japan for the next couple of years, or something like that. That'll give people time enough to forget that I can come back without anyone giving a rat's ass. Then live very modestly and give the charitable organizations of my choice quite the positive shock after I die.

[PeZook]

I guess that depends heavily on the individual. But if you don´t consider a life without ever having to work and being able to buy pretty much anyithing you want as "full blown hedonist" then let me relativize this by calling it "half blown hedonist".

You can easily spend that sort of money if you really want to live it up.

Just living it up is pretty costly. Want to trash around Geneva for two weeks? Why, the Royal Penthouse Suite at the President Wilson Hotel will only set you back 742 thousand for such a pleasant romp!

A premium Hugo Boss suit? 10 000, and you need several, plus shirts and accessories. Two sets of properly hedonistic cufflinks is another 30k. Throw in a cell phone worthy of your status - 300k, and of course a nice European car...oh, say, a Bugati - they're a nice brand. A mere 1,7 million later you can cruise across Europe in style! Oh but you may be drunk from lots of partying, so you better have a limo with a driver on retainer...a mere 100k should set you up with something comfortable. And to keep time, there's nothing like a Blackpain 800k watch!

So a not very extravagant hedonist could easily spend 3.4 million on just transport, clothes, watch and somewhere to stay during a two week vacation in Europe. Oh, you want to woo a woman with nice gifts, no expenses spared? How about a 120k evening gown, a 500k diamond neclace and a pair of 10k shoes?

You get the idea. There's plenty of ways for the rich to spend ridiculous amounts of money.

[PeZook]

I think it goes without saying that we all get the legal team to draw up a prenup, too.

I trust my wife implicitly, so...fuck no.

Even if things break up in the future somehow and we divorce, so what? Oh my God, I only get to keep 10 million bucks a year!

WOE IS ME THE WORLD IS ENDING

[Mayabird]

First thing, find a trustworthy lawyer or two. Then get financial advisers. At the very least, set up some sort of trust fund thingy to control the money for a couple years so I can both figure out exactly what I want to do with it and how I want to go about that and make sure that the moment every fucking asshole I have ever known in my entire life and every fucking cousin I have never known because they never bothered coming to any family events or acknowledging our existence comes knocking on the door begging for money I can say, "Hey, not in my control. Here's my lawyer's card," and the lawyer...do whatever it is lawyers do to tell them firmly but politely that no they can't take my money for their idiotic schemes so fuck the fuck off. That's a big problem most people don't realize happens to lottery winners - everybody wants a slice and they think that going to middle school with you or being a step-uncle means they can con a few million. Not that I'd have trouble saying no to them but they wouldn't know when to quit otherwise and it would be very annoying.

Or maybe I've just known more completely worthless people than most so this is the first thing that comes up in my mind.

[adam_grif]

I trust my wife implicitly, so...fuck no.

Even if things break up in the future somehow and we divorce, so what? Oh my God, I only get to keep 10 million bucks a year!

WOE IS ME THE WORLD IS ENDING

Not everyone here is married, and if you do get a divorce, that's 10 million dollars per year less that you could be giving to charity or using to spend on cocaine or whatever else it is you'll do with your money. If you never have to use it because you're with your partner forever, no problem. Perfect happy ending.

[PeZook]

That's a big problem most people don't realize happens to lottery winners - everybody wants a slice and they think that going to middle school with you or being a step-uncle means they can con a few million. Not that I'd have trouble saying no to them but they wouldn't know when to quit otherwise and it would be very annoying.

Or maybe I've just known more completely worthless people than most so this is the first thing that comes up in my mind.

I actually know of that problem, hence my first instinct was "throw up a wall and then GET THE FUCK OUT". It's more than just annoying: some people get violent or otherwise vindictive. Many lottery winners get constantly audited by tax offices because of constant reports from neighbors, and then there's the slight problem of organized criminals (especially if you have a family). Lots of people are also destroyed by the fact their closest family can suddenly show horns. It's like you can't trust anybody all of a sudden, which is an utterly devastating experience.

This is actually why I find the OP quite clever: without the stipulation that yes, everybody knows about your winnings, it would be just another "hey you become rich" thread. You would have to move FAST, or risk your life becoming a living hell with reporters following you everywhere and the constant pestering by "close cousins" who need "just a litle money hey you have lots so it can't hurt right"?

In fact I'd be tempted to just lock the doors, pack up my hard drives, a laptop, some clothes and a phone into the car along with my immediate family and drive until I reach the fucking UK, then drive some more. Disappear for a few years, basically, setting up my extended family from another country anonymously. When people forget, move back, though settling in another place, and start realizing the rest of the plan.

Not everyone here is married, and if you do get a divorce, that's 10 million dollars per year less that you could be giving to charity or using to spend on cocaine or whatever else it is you'll do with your money. If you never have to use it because you're with your partner forever, no problem. Perfect happy ending.

Even ignoring the fact that forcing my wife to sign a postnupial agreement is going to probably make my marriage fall apart, the 10 mil per year she gets would then be used by her. I'm not petty enough to think holding on to my money is worth a horribly ugly divorce.

As for prenuptials, I suppose they're a prudent measure to avoid the gold-digger syndrome. Fortunately, life is not like the movies, and a woman trying to get at yer monies can't actually strip you bare even without a prenup: over here, assets acquired before the marriage go back to their original owner, only those acquired during marriage are split.

[Aaron]

First thing, find a trustworthy lawyer or two. Then get financial advisers. At the very least, set up some sort of trust fund thingy to control the money for a couple years so I can both figure out exactly what I want to do with it and how I want to go about that and make sure that the moment every fucking asshole I have ever known in my entire life and every fucking cousin I have never known because they never bothered coming to any family events or acknowledging our existence comes knocking on the door begging for money I can say, "Hey, not in my control. Here's my lawyer's card," and the lawyer...do whatever it is lawyers do to tell them firmly but politely that no they can't take my money for their idiotic schemes so fuck the fuck off. That's a big problem most people don't realize happens to lottery winners - everybody wants a slice and they think that going to middle school with you or being a step-uncle means they can con a few million. Not that I'd have trouble saying no to them but they wouldn't know when to quit otherwise and it would be very annoying.

Or maybe I've just known more completely worthless people than most so this is the first thing that comes up in my mind.

No, I would expect the exact same thing. Not from my folks or sister but the losers who make up all sides of my extended family (in-laws included).

Like Pezook, that's why I specified "bugger off up North"

[Eternal_Freedom]

Fortunately I don't have a particularly large extended family, and those I do have I care for enough to set them up.

And then of course get the aforementioned legal team, bodyguard, driver etc. to keep me safe-ish.

But certainly at the start I would need to "disappear" temporarily. Perhaps I'll take my family and girlfriend on a long cruise somewhere, I always wanted to do that. Whilst I'm away, get the lawyers set up and find a new house in a gated community somewhere. Pay the movers to take all my stuff from my flat to the new place and just tell the taxi to go to the new place once the cruise gets in.

One thing I would do is set up a ridiculous gaming PC rig. And get someone from GW to make me some awesomely giant W40K armies, and then get my old mates together and host an enormous Apocalypse battle

[Rabid]

Fun time.

In France, the gains of these kind of game aren't imposed. So, at the present conversion rate, that's a little more than € 453 millions.

From that, I think I'll take the lump sum.

First move, I'll hire the classical set : personal lawyers, bodyguards, and a personal assistant / secretary or two. As I'm single right now, I'll move in an easily defended place until things go back to normal (maybe renting a little house in Geneva ?)

Of the € 453 millions, I'll directly take € 13 millions, largely enough to buy/build a little farm / rural property in the Alps, near where I live, and were I'll relocate myself (and my family if so they want). The property will be guarded by a trusted security company with permanent on-site guards.

€ 30 millions will go to my parents and my sisters, € 8 millions per person.

€ 20 millions will go in the construction of an apartments complex in my city, in order to have a first little steady rent and to pay a part of the the bills. It will be my fallback plan (maximum security investment).

€ 10 millions will immediately go to various local associations dedicated to improving the life of the poor (no “charity”, just giving a chance to those that want to help themselves).

That leave me € 400 millions.

I will cut the pie in six equal parts of roughly € 66 millions each, and I'll give each part to a different accounting / financial investing company, and tell each one to invest in secure and diversified placements.

Security of the investment is the key here : I'll demand that the Capital grow, yeah, but I don't want to be trapped in a Maddof-like scam. So I'll demand them to invest wisely, security before performance, and I won't give them performance bonus, as their salary will be fixed (re-negotiated each four years). Their only performance “incentive” is that the investment gains each year will have to be at least twice their salary. Plus I will do so that I have the contractual mean to pursue them and ask for a reparation if I lose more than a fixed percentage of the capital that is given to them.

In the same vein, I'll seek the best advocate company France or even Europe has to offer, and I'll take them at my service to arrange all the pesky little legal details that come with so much money...


Two to four years after I won at the lottery, I will take € 40 millions from the investment funds and open a little private school were I'll offer a real education to the children that can't have a decent one. Some rich parents will also be allowed to register their kids, but it will be limited, so that the Rich Kids will not exceed 50% of the students. Mix between student (sex and social-status) will be enforced. The establishment of long term relationship between the students, beyond social status, will be firmly encouraged by various means (like an ex-students association and things like that)

The successful and deserving ones, I will take them "at my service", and I'll do my best to offer them the best perspective in life. The goal is to have, by the time they grow, a group of competent and loyal individuals on which I can count.

The school (from primary school to high school) and the University Grants will be funded by a part of the yearly gains of the investment fund.


By the 2100, if I'm still around, I'll see if I have enough capital to start investing in space-faring technologies. More precisely, I have this plan about setting colonies in the Main Asteroid Belt and exploiting the resource of the asteroid there...


About marriage contract : “separate property”, and if she don't want to work, I'll give her a €1 million annuity, and she'll have to manage her personal budget with that. I'll carry the financial burden of the household, so that this money is really her's.

Other than that, my tastes are simple, so my personal expense shouldn't exceed € 3 million per year, counting all the taxes and the salary of the rent-a-cops and my various personal employee.

Concerning the children, I'll give them € 500,000 each at their majority, in order to "start in the World". Other than that, they will have nothing more than some pocket money while they are kids (€ 150 a month), and after that, they will have nothing to expect from me apart an unemployment-rent at 30% of minimum wages (our social security is already generous enough).


Oh, and other than that, there's a good chance that I'll begin to turn paranoid about my wife or my children killing me to touch the heritage (I can't legally disinherit them).

[Guardsman Bass]

On second thought, I might take the lump sum, then do all the preparations of investment, self-protection, etc (I like GrandMasterTerwynn's idea of moving out of the country for a few years to let things cool down) right away.

[J]

Lottery winnings are non-taxable in Canada so I'm taking the entire lump sum. I then hold a press conference to formally announce that I'm donating everything to charity or forming a special charitable trust with the funds, after which I take the money and try to disappear as best I can. I'll have my employer move me out of town for a while, out of country if needed then come back in a year or two after my 15 minutes of fame expires.

So what do I do with all my money? Well, some will be donated to friends, family, or other people I know who need it. I also plan on purchasing a ton of land and turning it into a nature & wildlife preserve in perpetuity, then build a modest cottage in those lands so my husband & I can enjoy the wilderness. The rest will be given away to charities, organizations, companies or individuals who are helping to make the world a better place.

[General Zod]

Meh, life goes on with virtually no change at all. If someone comes for my money, I'll write a check and be done with it. Hell, I'd probably give away one or two million right out of the gate. There's plenty to go around.

You get taxed for gifts over $10,000 to people who you aren't married to. That might not be such a good idea.

[His Divine Shadow]

Man I would buy so much land in the US and Alaska in particular (private hunting / nature preserve / vacation place).