Say you won $100 million USD post-tax. What would you do with your new found wealth?
Set up trusts for those I care about. Donate 10mil to charity (like St Jude’s). Take 5 million and just spend as I see fit (which probably means I’ll end up with 4.5 million sitting there for a while. The rest I’d invest and live off the interest and dividends.
I’ve thought a lot about this :)
We have a whole plan for this, not because we actually believe it’s going to happen, but because it’s fun to think about.
Plan involves
- Gifting close family members wnough money to pay for their mortgages and other debts
- setting up an investment envelope from which we can gift shares, which will pay yearly dividends and gifting those to family members. Idea is to ensure everyone will have some money to spend, but prevent squandering of the money.
- I would probably start my own company, have a few ideas. Wife would probably move to working part time (it’s fun to work, but it’d be nice to work a little less)
- There is an ancestral home of my family which we have not had the money to maintain, I would hire people to fix it (and probably spend time fixing it myself)
For me I’ve always loved flying, and have wanted to get my pilots license since I was a little kid. So the first thing I’d buy would be a little Cessna, and then I’d take my time and do a “road trip” to see the whole country by air.
Mmm… eternal poutine fund…
Beyond food for myself, I’d love to pay for programs and services I’ve graciously been given access to like WinRar, Wikipedia, The Internet Archive… People have shared with me and made my life better, I’d love to return the favour en-mass.
I’d invest everything else into supporting educational endeavours.