What type of advice do I need, beside tax, retirement or financial? I am seeking input regarding the wisest use of it, as a person.
2007-02-25 22:29:56 · 6 answers · asked by Anonymous in Social Science ➔ Psychology
where do u live?(and where do u keep it please?!)
2007-02-25 22:39:46 · answer #1 · answered by Anonymous · 0⤊ 1⤋
If you are truly serious, then invest at least $200,000 or more. (Personally, I would invest $225K and then just spend the remaining $11K as free money. Think of it this way: you only won 11K or 36K, and that's it.)
If you piss +50% away, you might enjoy yourself now, but be poor again later. Most lottery winners are broke in 5 years exactly because of this - they thought the money would last a long time.
If you spend it, then 5 years later you'll only have $100,000 or less - and that's if you can control yourself. But if you invest it, you could probably have 3 or $400,000, depending on your rate of return. Which would you prefer? Think long-term happiness, not short-term pleasure. Plan ahead.
Don't waste this opportunity. In 10 years, you could be a millionaire and retire. And then you could also help more people. (Even though I think money is not the best way to help people.)
1. Do not change your life too much for the next year. You will have better perspective then. Figure out what you want to do with your life - because now there may be a better possibility to do it with your newfound financial freedom.
2. If you want to be generous and not feel guilty, then give all your friends and family $500 or 1K each - but don't touch the 200K! Tell them that's all you can share for now. Better yet, tell everybody that you only won 30K. If you don't want to lie, then say the other 200K is for your future family, and that you have to think of them first. When you're richer, you can give more if you want.
It is best to educate your self about personal finance/investment (you can do this online for free), to find the right strategy and portfolio allocation for your needs and risk tolerances.
Second best is to consult a financial advisor. But no matter what they say, you should also do your own research to make sure that it makes sense.
2007-02-26 07:43:08 · answer #2 · answered by sky2evan 3 · 0⤊ 0⤋
What you have left over after taxes spend it wisely.
2007-02-26 06:33:54 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Invest at least half of it.
2007-02-26 06:41:22 · answer #4 · answered by Anonymous · 1⤊ 0⤋
i will invest very wisely for you - hang on 'til i get my account number......
2007-02-26 06:44:05 · answer #5 · answered by J C 2 · 0⤊ 1⤋
Umm let me see.....send some to me.
2007-02-26 06:39:49 · answer #6 · answered by Dreamcatcher 4 · 0⤊ 1⤋