reply to post by Jaellma
1. How to avoid blowing that money and staying alive?
You could simply bank some money, and live quite well off interest. I'm not a big fan of banks, but heck, just putting 10 million in various bank
accounts getting 2% interest, would get you $200,000 a year just in interest.
2. How to secure "credible" and "trustworthy" attorneys, financial and tax advisers?
Don't know if I could trust ANYONE there...
3. How to not allow parasite family members, friends and newly found family members suck you dry?
There's a lot there to suck. I'd certainly make sure my friends and family benefited from that kind of a windfall. Give them set amounts, and let
them make or break with it.
4. If you wanted to forgo hooking up with attorneys, advisers, etc, what is the best way to secure your money?
Some in banks, in various interest bearing accounts, a lot in cash, in secure safes, and with a lot of security measures, and other investments (see
5. Investing? Invest in what?
Good, solid, dividend paying stocks.
6. If you do put your money in the bank, what type of investment vehicles or savings portfolios should you use? How many banks to spread your
Only ever put the maximum FDIC insured amount, in any particular bank account.
7. Depending on winning amount ($3M - $Hundreds of millions) how to invest it wisely?
Have to decide what kind of lifestyle to lead. In the first one, I could live off $200,000 interest from that 10 million in the bank, quite well, no
8. Charities and the non-stop phone calls from good-cause organizations trying to suck you dry? How to mitigate that?
Give only what you want to give.
9. What else am I missing?
You have to have FUN with some of it, of course. Whether I won 3 million, or 300 million, I'd first set enough aside to have good income from that
money, then work with the rest. I'd do up my preps right away, instead of over time, for one... But I'd also get out and do some enjoyment of life.
We'd travel a lot. I'd give some money to friends and relatives (relative to how much I won) to help them make their own success....
I have had a windfall before, and while we "blew" it, in my opinion, we do have a lot to show for it...so having been there once, I have learned a
lot, and wouldn't duplicate some of the same mistakes. A lot of it was from simply being the nice people we are, and we got taken advantage of more
than we should have, but some of it was our own stupidity too.