Where to invest my lottery win

Discussion in 'Chit Chat' started by Gulliver, Mar 26, 2012.

  1. Gulliver

    Gulliver

    Thanks for all your informative (and sometimes humorous) replies. I will be looking to invest one chunk in solid dividend stocks for consistent cash flow to live off with. Probably around 2 million. My winning was 4.1 million, so I'll use the rest to do more risky bets such as trading or doing a business. As hinted previously, I want to multiply the "risk money", while the "conservative money" finances my life. Any suggestions which method or instrument?
     
    #31     Mar 27, 2012
  2. will you buy a shiny yellow lambo to drive to the beach:D
     
    #32     Mar 27, 2012
  3. bone

    bone

    Please do not do anything impulsive in terms of spending or investing.

    Maybe travel to someplace distant and new enough to you so that you can clear your head and relax. Give yourself a "grace period" - maybe six months, where you don't do anything beyond "X" with spending or investing.

    Go to a tax attorney ( not your run of the mill CPA ) and see what tax planning you need to do for the fiscal year. My point is, he might do something nifty and advise you to start an LLC and put $50K into a SEP IRA, and some other swift moves.

    Avoid the impulsive.

    Go clear your head.
     
    #33     Mar 27, 2012
  4. imagine the swarming 20 something women when you pull that bad boy into a parking slot and that gulf wing door opens. have them form a line:cool:
     
    #34     Mar 27, 2012
  5. I would look into some managed investments and maybe place a small sum there.

    But first I would hire a more than impeccable accountant to make sure everything is straightened out first and all taxes are paid before I start investing in anything.

    I would also than pay off all my debt and after see what principle I have left and invest from there. But definitely hire a good accountant who knows exactly what he's doing just to give you a piece of mind!
     
    #35     Mar 27, 2012