My thinking is that with 7 mill after taxes and buying a big house and some investments you will still have alot of money but not to much were family members and friends will bug you to death. with 20 you will have much more money and feel guilty not giving money to family. what do you think?
2007-09-17 16:20:22 · 18 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
I'll take 20 million dollars any day.
2007-09-18 15:02:31 · answer #1 · answered by soar_2307 7 · 1⤊ 0⤋
What are you asking; Do you mean taking 20 Mil before taxes as an annuity, or taking 7 mil cash after taxes?
A lot depends upon your age and physical condition. With 7 mil you can set up some trusts to help family, investing some to do you in retirement. It's STILL a bunch of money.
20 mil paid out over 20 years is subject to tax, leaving about a half mil per year for living, investing, etc, with no guarantee that you will live to see any of it!
If you did ( live, that is) you'd be broke at the end of 20 years, having wildly spent all the half mil you got each year, and nothing more than the house and car to show for it!
I'd be inclined to take the 7.
2007-09-17 16:28:57 · answer #2 · answered by seeitmiway32 5 · 0⤊ 2⤋
I think I would prefer the 20 million, I have to pay more taxes. I would put a portion of it in a investment tool, buy a house, give to charity and some to family. The keys is spend, save and give. Then you would not fill so overwhelmed with the money and stand grounded. With money you have more options, but I am not saying it makes you happy.
2007-09-17 16:27:57 · answer #3 · answered by BizWoman 2 · 0⤊ 2⤋
Why not take the 20 million - keep the 7 million, like you said you would do, and give the other 13 million to your family??? I would personally want the 20 mill, pay off my student loans, car, etc and then pay off my immediate family's debt. That would make me feel grrrreat!
2007-09-17 17:30:52 · answer #4 · answered by You Know Im Right 3 · 0⤊ 2⤋
Hypothetically, I would invest it into something that will give me 15% more every month and make my million money increase. I have been into investing right now, online - investment made more easy. I've tried it and tested.
2016-05-17 10:15:23 · answer #5 · answered by vida 3 · 0⤊ 0⤋
I'm happy winning one dollar from a dollar scratch ticket, so I guess beggars can't be choosers, whichever one I win I will live with...reminds me, I saw the powerball was up to 45 million, maybe I should find a dollar and buy a ticket.
2007-09-17 16:25:38 · answer #6 · answered by npwinder 3 · 0⤊ 2⤋
Seven million would be plenty to do what I want..my biggest dream would be to support a homeless family, food, shelter, clothes and whatever else is needed while the parent or parents get job training or an education.. my grand kids would have college funds, {bigger than they are now} each of my kids would have their houses paid off. one brother would have money to finish remodeling his house..I would still have more than enough left for whatever I wanted to do..
2007-09-17 17:19:50 · answer #7 · answered by jst4pat 6 · 0⤊ 2⤋
um either way YES i would give some $$$ to my family.... But most of all finding away to keep your money is the BEST like investment easiest to my eyes a little family business....
2007-09-17 16:29:50 · answer #8 · answered by Anonymous · 0⤊ 2⤋
I am a very giving person, so after getting the house, car and the American dream I would want to share it in a responsible way.
2007-09-17 16:23:31 · answer #9 · answered by Smarty Pants 4 · 0⤊ 2⤋
20 million U.S. Dollars sound very nice to my ears.
2007-09-18 15:04:47 · answer #10 · answered by conde_c_b 7 · 1⤊ 0⤋