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submitted 1 year ago by Rocky60@lemm.ee to c/asklemmy@lemmy.ml

Suppose you win 100 million. What do you actually do with it? Banks only guarantee 250,000. Do you have to invest it? Is there anywhere you can just let it sit and draw interest?

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[-] SnipingNinja@slrpnk.net 2 points 1 year ago

Invest in my people (friends and family), especially the ones I care about. Not exactly a win win but it's basically a wash in the worst case and a super win in the best case.

If they succeed in their endeavours, I get partial ownership in it or it can be a loan (whatever they prefer) and if they run away with the money, it's a cheap price to pay for setting up someone I cared about with a better life and finding out they were not trustworthy.

Also, if spread around enough, there will be enough people who will be thankful to you for improving their lives that they'll be there for you for a lifetime.

This is all after you do the usual investments with some amount and also keep enough aside from any ideas you want to try to bring to fruition (you'll want to do something at least after all)

[-] GarbageShoot@hexbear.net 2 points 1 year ago

You give it specifically to me so I can fund the production of a fighting game or something

[-] Candelestine@lemmy.world 2 points 1 year ago

You don't have to, but it's kinda dumb not to. You can cram it all into a wooden chest and bury it in your backyard if you want, but while its down there its slowly losing value.

Instead you can set it up to make more money for you, without you having to do anything. Money, in sufficient quantities, can become self-replicating unless you do dumb shit with it and waste it. You just hire someone who knows how to make that happen, some financial manager of some sort, and they take care of it. You can even set it up so they just budget out an allowance of your own money for you, so you know how much you can spend every month or whatever. If you want.

This way you don't have to worry about anything, you just know you have such-and-such amount every month to play with, just like most people. It's just a lot more than most people get.

[-] FuckyWucky@hexbear.net 2 points 1 year ago* (last edited 1 year ago)

put it in the too big to fail banks, those are likely to be bailed out completely regardless of FDIC limits.

if you give me the money, ill put 3mill in a bank and give the rest to certain political organizations....

[-] YoMismo@lemmy.dbzer0.com 1 points 1 year ago

100m $ !? Other than buying all things I and my family need, I may invest a in real estate that I could rent, and put the rest in the bank.

[-] Harrison@ttrpg.network 1 points 1 year ago

If you have any decency, get rid of most of it, preferably to charities or political causes.

That sort of wealth in the hands of a single person is obscene, and spending it on luxury when there are people starving and homeless in the world is the height of immorality.

[-] PowerCrazy@lemmy.ml 1 points 1 year ago

Charity exists so that rich people can pretend to help, but also get to be a petty tyrant. Charity is scam.

[-] Chapo0114@hexbear.net 2 points 1 year ago

My partner worked in non-profits for years. Her advice is find local organizations (homeless shelters, local LGBT orgs, neighborhood revitalization orgs, ect.) that DO NOT have a national (central) office. Get to know their staff, their mission, and then make pledges to pay $X per month for the next X years. This is how they can best do the work they are passionate about to help people in need. Don't put strings on the money and you are moving closer to mutual aid than tyranny.

[-] Harrison@ttrpg.network 1 points 1 year ago

Well, you've got to get rid of it some way, and while charity might systematically be a problem there are plenty that do genuine good.

[-] Kolanaki@yiffit.net 1 points 1 year ago* (last edited 1 year ago)

Multiple banks, only storing what is federally insured by the FDIC in as high yield interest rate savings accounts as I can get.

[-] NakariLexfortaine@lemm.ee 1 points 1 year ago

Invest a decent chunk, find somewhere I can be away from things, set my dad up somewhere nice he can get the medical help he needs without worry.

After that, work on funding pro-womens rights and LGBT+ causes and platforms. Do what I can to help others in a position like mine, where there isn't really a "safe" place around to let the mask drop away.

[-] Durk@beehaw.org 1 points 1 year ago

I don't know, I'd probably just give 50 millions to charity and hire a professional to counsel me on what to do with the rest

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this post was submitted on 19 Aug 2023
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