I am not trading to prove my ability as a trader. I am trading so that I can eat and feed my wife when she retires …..
no but it is the one, in which you can make it grow, without a single person's help...….only need a broker and he is not there to help you, he is there only to facilitate the transaction
I would put $199 million into dividend paying blue chip stocks and with the other million I'd open up two robinhood accounts and put $500k in each. Then I'd YOLO both sides of an options trade and the one that wins, I'd post to wallstreetbets with a title that says "I mortgaged the house to make this trade" and I'd be a hero and remembered for all time. Or I might post the loser and go down in history with /u/controlthenarrative and /u/1r0nyman.
You should do research on Google...there's real stories about what lottery winners do with their winnings. You'll be surprised. wrbtrader
I will yolo all the rest on high risk bets to try for 1 Billion. Too many millionaires this day, you need at least 1B to stand out from the crowd. If I lose it all, I will write a book and sell it for another few millions. It will be a great story to tell.
Buy 80 acres of premium land with mineral rights and a lake nearby and build a nice cabin on it with some decent satellite internet. Put some big fences around it. Live on it. Get an old cessna for a few hundred thousand and build a nice dirt runway right next to my cabin. Fly into town every weekend to have a little fun, fly back the next morning. This would probably cost all of $2-3 million. I could concede on the cessna and bring the cost down considerably. Pay off my current house, buy another 2-3 houses and rent those for income (assuming I got it today while mortgages are cheapish here and interest rates are low). This would cost a million or so. This would cover my costs for living on the land. I'd lock away $10 million of it or so until I turn 55 (legally so I can't get lottery fever and ruin my life) and just hold the rest. I'd probably pay off my friend's mortgage and make sure my sister and nephews are taken care of (school plus a small down payment in an interest bearing account for the nephews, a nice down payment for a house for my sister). I'd be able to give enough money to my parents so they don't have to work anymore because they are getting older and should've retired by now. Then I'd call up a financial planner and figure out how the wealthy protect their wealth and do that. Nothing else to really do. Everything else is stupid. There's no point to trade once you have that money. Time to take care of yourself first and then use your wealth to help those close to you. Once I've secured enough to live on with recurring income + interest I'd rather invest in the people who've taken care of me rather than put any of it into a trading account again.
"What if you won the lottery?" Most of it, I would give to my closest friends, for they have added to my life and been there for me when I am bewildered. Money to me is a way to keep score but never worshipped like some immature god.