Jeffg010
Diamond Member
- Feb 22, 2008
- 3,435
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You hear about all the broke winners and even Mike Tyson blew through 250 million so here is my advice to anyone that wins this 250 million.
You could spend 2 million a year and not spend it all. So this is what you do. You set up a trust account with restorations. The restorations are you can't touch the money no, ifs and or buts unless of a life threatening condition to you and your family. What the trust account will do is put in enough money once a day into a checking account to add up to 2 million a year. If you are an old fart you can maybe up the amount to 3 or 4 million a year.
Let’s look at the math:
2,000,000/365 = $5,480 I rounded up
So everyday you would see $5,480 in your account
Now don't cry that you can't run off right away and buy that 10 million dollar house and 3 or 4 millions worth of cars. This is what gets all those winners in big trouble. They start off buying the big house and a bunch of high end cars then decide they need a beach house in the outer banks anther in Florida, one in California and maybe a summer cottage in Main. Before they know it the houses have bled them dry.
This also would cut down on all the leeches I mean family members asking for a hand out. What are they going to do when you can't get at the money right away? The last big down fall is the risky investments into business that seem to go belly up. You could invest the money you get everyday but you are not going lose millions.
The last and final consideration is you will still have to show some restrain. You can’t just go to the bank and get a 25 million loan and go over board thinking it is no big deal because you have this trust account. You have to have the mind set that the money you see in the checking account is the only amount you are going to spend.
You could spend 2 million a year and not spend it all. So this is what you do. You set up a trust account with restorations. The restorations are you can't touch the money no, ifs and or buts unless of a life threatening condition to you and your family. What the trust account will do is put in enough money once a day into a checking account to add up to 2 million a year. If you are an old fart you can maybe up the amount to 3 or 4 million a year.
Let’s look at the math:
2,000,000/365 = $5,480 I rounded up
So everyday you would see $5,480 in your account
Now don't cry that you can't run off right away and buy that 10 million dollar house and 3 or 4 millions worth of cars. This is what gets all those winners in big trouble. They start off buying the big house and a bunch of high end cars then decide they need a beach house in the outer banks anther in Florida, one in California and maybe a summer cottage in Main. Before they know it the houses have bled them dry.
This also would cut down on all the leeches I mean family members asking for a hand out. What are they going to do when you can't get at the money right away? The last big down fall is the risky investments into business that seem to go belly up. You could invest the money you get everyday but you are not going lose millions.
The last and final consideration is you will still have to show some restrain. You can’t just go to the bank and get a 25 million loan and go over board thinking it is no big deal because you have this trust account. You have to have the mind set that the money you see in the checking account is the only amount you are going to spend.
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