As you said, human nature is human nature and it is hard to imagine what I would do if I won that much money. We threw some money away on tickets, but didn't win anything on any of them. My hope would be that besides a handful of "splurge" items and crypto buys, the majority of my money would be locked up in different investments so that passive streams could benefit both my wife and our families with little chance of us accessing them to use them foolishly. I'd also like to move a large chunk into a charitable foundation so that those passive gains could benefit others for years to come. I prefer to think about what that money could do over the long term versus what it can get me immediately. A lakeside vacation home isn't off the table though. The other thing is after taxes it's only 700 million or something like that, but a lot of people just can't handle numbers that big. Not when you are used to planning your weekly budget in the three or four figures. Nine figures is just lobotomizing for them.
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I think I would do the same, take the lumpsum, but invest it into a range of things now, generating multiple income streams that can be used by others too.
Funny to put in the "only" :D
WE fail with big numbers, which is why we calla bank robber a criminal, but don't bat an eyelid when a robber steals the national economy.
Yeah, I have really started to understand number dismorphia or whatever you want to call it since I got into crypto.
I am guessing some kind of legal trust would be the way to go with the lump sum. I mean really you can buy most anything reasonable off the top, so what would your monthly living costs really need to be? I'm thinking $5000 per month would be plenty where I live. Actually way more than enough. That only requires like 1m of the 700-800m assuming 10% interest.
My hope is I could stay that humble anyway.