Thanks for all your informative (and sometimes humorous) replies. I will be looking to invest one chunk in solid dividend stocks for consistent cash flow to live off with. Probably around 2 million. My winning was 4.1 million, so I'll use the rest to do more risky bets such as trading or doing a business. As hinted previously, I want to multiply the "risk money", while the "conservative money" finances my life. Any suggestions which method or instrument?
Where to invest my lottery win
- Thread starter Gulliver
- Start date
Please do not do anything impulsive in terms of spending or investing.
Maybe travel to someplace distant and new enough to you so that you can clear your head and relax. Give yourself a "grace period" - maybe six months, where you don't do anything beyond "X" with spending or investing.
Go to a tax attorney ( not your run of the mill CPA ) and see what tax planning you need to do for the fiscal year. My point is, he might do something nifty and advise you to start an LLC and put $50K into a SEP IRA, and some other swift moves.
Avoid the impulsive.
Go clear your head.
Maybe travel to someplace distant and new enough to you so that you can clear your head and relax. Give yourself a "grace period" - maybe six months, where you don't do anything beyond "X" with spending or investing.
Go to a tax attorney ( not your run of the mill CPA ) and see what tax planning you need to do for the fiscal year. My point is, he might do something nifty and advise you to start an LLC and put $50K into a SEP IRA, and some other swift moves.
Avoid the impulsive.
Go clear your head.
I would look into some managed investments and maybe place a small sum there.
But first I would hire a more than impeccable accountant to make sure everything is straightened out first and all taxes are paid before I start investing in anything.
I would also than pay off all my debt and after see what principle I have left and invest from there. But definitely hire a good accountant who knows exactly what he's doing just to give you a piece of mind!
But first I would hire a more than impeccable accountant to make sure everything is straightened out first and all taxes are paid before I start investing in anything.
I would also than pay off all my debt and after see what principle I have left and invest from there. But definitely hire a good accountant who knows exactly what he's doing just to give you a piece of mind!