You Win 200 Million Dollars What Do You Do?

[SFRL]

What would you do if you won 200 million dollars? 

[Metody]

 So much freedom !!!!! I have all my time. 

Help others

Cushy lifestyle ? Noo, because im minimalist.

[Key Elements]

Invest in real estate. It's called "parking your money." Rent out the apartments and you will have a stable income for the rest of your life. Then you could pursue the things further up on Maslow. Don't "win" the money. A life purpose could get you there.

[Guest username]

Give most of it away. No way I'd need that much money when others are suffering poverty and have trouble escaping.

Otherwise, I'd do what I need to devote as much time as possible to spirituality and life purpose.

[Metody]

26 minutes ago, Key Elements said:

Invest in real estate. It's called "parking your money." Rent out the apartments and you will have a stable income for the rest

  Pointless ?   You don't need any income when you have 200 mln dollars.  Maybe if money dont have any value its a good investment. 

[Key Elements]

1 hour ago, Metody said:

  Pointless ?   You don't need any income when you have 200 mln dollars.  Maybe if money dont have any value its a good investment. 

Really? 

Learn investing and get yourself stable before you decide to help others. (Aka becoming a philanthropist) Money decreases in value when it is kept idle and very low interest rate in a bank account. Good luck.

https://www.google.com/amp/s/www.pbs.org/newshour/amp/making-sense/is-your-money-safe-at-the-bank-an-economist-says-no-and-withdraws-his

[Vitamine Water]

I'd buy some enlightenment

No but seriously, I think I would buy a house or hut in the middle of the forest/nature. Besides that i'm absolutely clueless what to do with 200 million, lol. I'd give a big part to my friends and family I think. 

[DoubleYou]

I'd buy myself a house with a recording studio, somewhere in nature and devote my life to art and spirituality. 
First I'd work on my own art, just for the sake of it, and after all that I'll try to help talented people work on their projects. 

That's all I need for the rest of my days.

I'd like to think I would use the rest of the money to help out others. But I wouldn't just waste it away like that. Maybe start a foundation or something.

[SuperLuigi]

5 hours ago, Key Elements said:

Really? 

Learn investing and get yourself stable before you decide to help others. (Aka becoming a philanthropist) Money decreases in value when it is kept idle and very low interest rate in a bank account. Good luck.

https://www.google.com/amp/s/www.pbs.org/newshour/amp/making-sense/is-your-money-safe-at-the-bank-an-economist-says-no-and-withdraws-his

I just need to tell you that this is not relevant when talking about this kind of money. I worked for a financial advice company for many years and even if you kept 200 million in a super low interest account (banks would give you at least this), you would get around 1% interest annually. That's 2 MILLION dollars! LOL. Let's imagine you could only get a 0.10% interest rate (there was a massive global crash).. oh no!!! Now you only have 200,000 dollars income per year  and that's without ever touching the capital.

Not trying to prove anything, just wanted you to realise it's not so hard Mr. Money Moustache is a great blog for more financial advice if you are interested. He lays out plans to retire by 40 etc. and they are very easy to follow (I am on track personally by following his free advice).

[Toby]

Give a few million to my teachers. Fly to India, maybe do some more retreats. Give money to spiritual friends to go on retreats, buy myself a house/bigger flat in a "better" location. Help local community with social projects. Look how to help other people in different parts of the world without loosing too much to organizations. Maybe give my family some. Give money to good educational projects that help people on a global scale. Maybe give money to "spiritual people" who need it to start like a retreat / yoga center, book shops or restaurants or something.

@SuperLuigi the problem is you loose more per year than you earn with interest due to inflation. and if there is a crash all money will be gone.

[Nahm]

I'd just keep being me.

[BjarkeT]

Probably hire someone who knows how to invest money in the right things so they don't get wasted and probably a personal development coach as well and some stuff i always wanted and then give some money away to my family and friends and maybe donate some to spacex but still leave enough money so i can use that in investing in the right things so i don't lose the money forever

[Forestluv]

Well there is the answer my self identity would like to give: "I would help others and donate most of it away"

And there is the an answer based on passed behavior. How much of my disposable income do I currently donate and use to help others? Not much. Would this necessarily change if I had much more disposable income? Maybe. I don't know.

Part of me would likely feel overwhelmed and there would be a fear of losing the wealth. That part of me likes security, so I would probably invest a lot of it in something safe, like a money market. Also that part of me would be concerned about losing the wealth due to hyperinflation. What if the dollar loses value or collapses? It's not *real* physical wealth. It's only paper after all. So, I would exchange dollars for physical wealth. I wouldn't want to manage houses and know nothing of art or jewelry, so I would likely buy a bunch of gold bars and have them stored in several safety deposit boxes.

Another part of me likes to ration and pace myself so I don't run out (e.g. water or food during a road trip, pacing myself during a marathon etc). That part of me would want it a goal to live off the interest, or mostly off the interest.

Another part of me would feel an urge to spend money to help others. This would be a combination of empathy and obligation. I would likely feel a new sense that I can make a meaningful difference in people's lives - yet there would also be a guilt factor if I didn't spend on others. I'm sure there would be countless people and organizations asking for money - and I would need to learn how to say know. I would give some to family and charities of interest - yet, I would probably try to lay low and not wear the wealth on my sleeve. I've never been particularly motivated by money or titles and they aren't really part of my identity. I currently have the resources to buy fancier clothes, jewelry, car etc. yet I don't. So I don't see that changing.

Part of me really likes traveling and desires to live with other cultures and learn their languages. I lived in South America for two months last summer and loved it. I would likely take a year or two off to travel the world and there is a good chance I would spend the rest of my life doing that.

A few years ago, I read an article that the majority of Big Time lottery winners are right back where they were after 5-10 years of winning. (Due to poor investments, gambling, theft, general irresponsibility). So, although everyone has a great story of what they "would do", it doesn't pan out for the majority.

[Brimstone]

I am as big a dreamer as anyone and could certainly use the money, but why concern yourself with what is not, bring your attention to what is, that all the money in the world doesn't even come close to touching

[SuperLuigi]

Guys, you can (and I know many people that do) live off of interest and dividends returned by MUCH smaller portfolios than 200 million! You can retire with a portfolio as small as 300,000 (if you are happy to live on 12,000 a year).

 

Basically, to retire you only need 25x your desired annual income.

 

I'm only saying this to try to help you'all realise you don't need as much money as you think to retire and the fact that some of you think that living on interest alone with 200 million would be ANY sort of challenge distresses me somewhat. Spirituality is important, but a basic financial education will go a long way to helping you self-actualise also.

[SuperLuigi]

2 hours ago, Toby said:

Give a few million to my teachers. Fly to India, maybe do some more retreats. Give money to spiritual friends to go on retreats, buy myself a house/bigger flat in a "better" location. Help local community with social projects. Look how to help other people in different parts of the world without loosing too much to organizations. Maybe give my family some. Give money to good educational projects that help people on a global scale. Maybe give money to "spiritual people" who need it to start like a retreat / yoga center, book shops or restaurants or something.

@SuperLuigi the problem is you loose more per year than you earn with interest due to inflation. and if there is a crash all money will be gone.

This is true. Let's assume you earn 0% interest on the 200 million and it drops in value each year.

You win the money at 20 years old and live until 100.

From the capital alone, you would draw-down around 2.5 million per year (200,000,000 / 80)  

The market crashes and the dollar loses 50% of it's value... your 2.5 mill is now only worth 1.25 mill annually. 

Edited September 29, 2017 by SuperLuigi

[Key Elements]

4 hours ago, SuperLuigi said:

I just need to tell you that this is not relevant when talking about this kind of money. I worked for a financial advice company for many years and even if you kept 200 million in a super low interest account (banks would give you at least this), you would get around 1% interest annually. That's 2 MILLION dollars! LOL. Let's imagine you could only get a 0.10% interest rate (there was a massive global crash).. oh no!!! Now you only have 200,000 dollars income per year  and that's without ever touching the capital.

Not trying to prove anything, just wanted you to realise it's not so hard Mr. Money Moustache is a great blog for more financial advice if you are interested. He lays out plans to retire by 40 etc. and they are very easy to follow (I am on track personally by following his free advice).

A financial advice company is different from being an entrepreneur. When I went networking, I never met a single entrepreneur / investor / angel investor / VC who told me not to reinvest for that amount of money. That amount of money to some of them is nothing. It's peanuts because the money is just sitting there.

Why is this? Sure, many of us here would love to live in nature. I would too. However, we're not at a stage where we could get away with no money. We're not at that "enlightenment" stage.  I've been looking into Robert Kiyosaki, author of Guide to Investing. He's a real estate tycoon - somewhat like Trump, but not really. His sister is a monk who follows Dalai Lama. While she's monk, she got cancer throughout her body. Her fellow monks (sisters) did everything they can but couldn't raise enough money for her treatment. So, she called up Kiyosaki, her brother, and he saved her life. Kiyosaki said that if it wasn't for wealth and reinvestment, she would've been gone.

In real life, I've seen fellow temple members supporting an old monk to go to the hospital because he had a heart attack. It wasn't a very good hospital. The bill was already over $10,000.00 (US).

Anyway, this is something to research and find out in real life.

@SuperLuigi, I'm not saying that you're wrong. I'm saying that life throws things at us.

[SuperLuigi]

10 minutes ago, Key Elements said:

A financial advice company is different from being an entrepreneur. When I went networking, I never met a single entrepreneur / investor / angel investor / VC who told me not to reinvest for that amount of money. That amount of money to some of them is nothing. It's peanuts because the money is just sitting there.

Why is this? Sure, many of us here would love to live in nature. I would too. However, we're not at a stage where we could get away with no money. We're not at that "enlightenment" stage.  I've been looking into Robert Kiyosaki, author of Guide to Investing. He's a real estate tycoon - somewhat like Trump, but not really. His sister is a monk who follows Dalai Lama. While she's monk, she got cancer throughout her body. Her fellow monks (sisters) did everything they can but couldn't raise enough money for her treatment. So, she called up Kiyosaki, her brother, and he saved her life. Kiyosaki said that if it wasn't for wealth and reinvestment, she would've been gone.

In real life, I've seen fellow temple members supporting an old monk to go to the hospital because he had a heart attack. It wasn't a very good hospital. The bill was already over $10,000.00 (US).

Anyway, this is something to research and find out in real life.

I'm not sure what you are getting at, sorry.

I'm not saying you don't need money. What I'm saying is, you don't need very "much" money to live off of.

Personally, I have less than 500,000 portfolio and will be able to stop working by the time I'm 40. So with 200 million... well it's just laughable to think someone would concern themselves with investing etc. with that sum. Only greed could drive that,

 

In your 2 scenarios, the medical treatment wouldn't have put a dent in someone worth anything over a million. 

[Key Elements]

@SuperLuigi Sorry, but I'm not sure what you're getting at too. I think ppl like Bill Gates are not greedy. He has an AIDS foundation. No projections please. He's not planning to inherit his wealth to his children. 100% goes to charity.

[SuperLuigi]

41 minutes ago, Key Elements said:

@SuperLuigi Sorry, but I'm not sure what you're getting at too. I think ppl like Bill Gates are not greedy. He has an AIDS foundation. No projections please. He's not planning to inherit his wealth to his children. 100% goes to charity.

As I'm sure you are aware, he is a very very rare breed and that is not what most people do with their money. 

But now I'm starting to see what you mean.. people on here would do quite different things with their money, so more money = more opportunity to help people. 

 

I see now