What if you won the lottery?

[ironchef]

%%
LOL=true, Trend t Morton.
Frankly, farmer Jon;
i would pretty much do the same things i do noW. Tithe+ trade some ;mostly inVest. Like DaVe Ramsey Solutions says '' Lottery= a stupid tax on people that cant do math'',

You forgot to say %% Not a prediction.

 

[ironchef]

You're still betting either up or down. And you don't know the future. Even if you guess right and think you're a genius, maybe was just a false positive.

I know I am not a genius, not even close. Just lucky that the market was generally up since 2009.

 

[LS1Z28]

1. Hire a lawyer to minimize the tax hit.
2. Take care of the people I care about.
3. Invest a small amount in real estate to guarantee an income for life.
4. Become a billionaire by trend following the overall market.
5. Set up charities to fund with my tax burden.
6. Give away 99% of my net worth before I die.

I don't know that I would spend all that much on myself. I would probably just travel the world and enjoy my life. It would be nice to have the financial wherewithal to really make a difference in the world.

 

[murray t turtle]

I know I am not a genius, not even close. Just lucky that the market was generally up since 2009.

%%
LOL-lucky-LOL;
actually thats a gambler's/lotto term. NOT a prediction, did not forget it, not suitable for all inVestors. A billionaire trend folloWer said '' what you call'' luck'' ; I call a small sample........................................................................................................,

 

[ironchef]

4. Become a billionaire by trend following the overall market.

Why? You said you are already set for life so why don't you do something more relevant to society?

 

[ironchef]

%%
A billionaire trend folloWer said '' what you call'' luck'' ; I call a small sample........................................................................................................,

I call it Russian roulette or selling DOTM naked. I should quit while I am ahead or the consequence of failure is dire.

 

[destriero]

You won and took a lump sum of $200 million.

What would you do with it? Would you use it in your trading account?

Pay my tax bill. Put $150MM in a fund. The remainder for living expenses/RE/guns/prepping.

 

[destriero]

"PC LOAD LETTER?! WTF does that mean?!"

"Well the type of chicks that would double-up on a guy like me do"

 

[murray t turtle]

I call it Russian roulette ......I should quit while I am ahead or the consequence of failure is dire.

%%
OK iron C;
I seldom quit in a bull market uptrend, SPY, UPRO related + QQQ.........IF I had 2020 hindsight[ in may 2019] I would have sold more or bought more in MAY-HAY. BUT not quitting in a bull market , even in may 2019,can help make you rich+ all those pay diVidends.....................................................................................................................

 

[LS1Z28]

Why? You said you are already set for life so why don't you do something more relevant to society?

Scenario 1: You win $200M in the lottery after taxes. You keep $20M for yourself, and donate $180M to charity.

Scenario 2: You win $200M in the lottery after taxes. You keep a small amount for yourself, and invest the rest. You trend follow the market for an average annual return of 10-15%. You funnel your tax burden every year to the charities of your choice. After a couple decades you're a billionaire, and you're able to donate over $100M to charity every single year.

I would love the challenge of building a large account, but the biggest reason I would take this path is because I feel like it would make an exponentially larger impact on society over the long term than simply giving the money away.