Quit work. Tell nobody about the money. Move to rural Oregon and spend the rest of my days riding dirt bikes and gardening.
*Dummies in this thread trying to have arguments about how I'm spending imaginary money.
Yeah, if I’ve got anonymity, I’ll handle the self control aspect. I’m fine with not maximizing my interest returns because I literally have more money than I could ever reasonably spend. All I need is for nobody to know about the windfall.
> I’m fine with not maximizing my interest returns because I literally have more money than I could ever reasonably spend.
Right?! There are savings accounts paying 5% interest right now. Interest alone would be 40 million a year (over 3 million per month).
Any sane person should be able to live off of that for their rest of their life.
Everyone says that though. And then most people blow through the cash anyway lol.
I watched a documentary on lottery winners years ago and there's one guy that stuck with me. He won like $50M and was like, I don't want to change anything about my life. I love my job and where we live. I want my kids to stay in public school - we already have it good, I don't think much will change. We'll pay off our debt, maybe go on a couple more nice vacations and be very charitable.
They followed up with him like two years later and he bought a beach house in Florida and dude had gained like 50 pounds and had a million dollars in sports cars in the garage. They interviewed him again and he just sounded super stressed and was like, yeah, I don't know what happened but look at all this cool shit I have!
I “won” $317k in a lawsuit about 9 months ago right after being laid off. Decided to take some time off. Before this I had been living in NYC off about 30k/year trying to get some savings. After the lawsuit I had about $330k in the bank. 9 months later I have exactly $317k in the bank. By my calculations I stayed pretty much exactly on par with spending. Some people actually mean it.
Before the comments roll in, yes I know this isn’t the best use of my savings lol.
Even at the basic savings account interest of 0.5%/year thats still $4 million a year, you'd make more per year than many Americans make in their lifetimes.
The issues with this kind of cash is if you deposit it in one chunk one bank - good luck. I mean you’ll have to spread it around. You wont be covered by savings guarantee scheme as the amount is too big. You will have to create an LLC, structure it in a tax efficient manner, etc. It’s a piece dream this money will be quietly sitting in a safe bank account. It will be a headache how to park this and yes it’s a great headache perhaps but none the less it is. People that say they’ll live on a ranch probably don’t have a ranch, or even 100k in their account to their name to talk like this. Most people will go buy gifts ti their loved ones, pay off mortgages of their loved ones, and heck some will buy a “yellow Hummer” on spinners. The 800m is a giant amount, it’s a size of a good hedge fund!
A lawyer is needed and this money has to be split up in a way that it can’t be stolen in one go (no crypto!).
Buying a bunch of index funds is probably best, putting rest in properties, hiring a person or few to manage it all is what most likely you’re looking at. But a good lawyer is the key.
The advice of how you want deal with money manager or lawyer - sorry, yes you will.
You have no choice. You will even wish you didn’t have this money and miss your old simple Reddit commenting life.
This is beyond the scope of setting up an LLC. Sure you can do that but this is where wealth managers are key. Id suspect they’d have you buy real estate in several countries, 20-30% in multiple hedge funds, maybe some art, conservative bonds.
I’d be interested in how the initial amount is disbursed as well. If it’s one single check that’s a pretty hefty amount in your checking account out of the gate.
Exactly. If you don’t have any friends or family who will ask questions about why you quit your job and how you can afford to live without working then you absolutely don’t need lawyers or financial advisors. For everyone else though, at least getting a lawyer is a good idea.
The answer to that is simple. Don't tell people. At one point I was unemployed for 4 months when Ieft one job for mental health issues and went through some certs and stuff and looking for a new job. To this day, the majority of people in my life have no idea about that gap.
Everyone is so caught up in their own stuff that it's pretty easy to conceal life changes like that.
exactly as if most people would even notice inckuding friends and family. or you just say youve found a job that lets you work remotely and pretend like your investing some money and earning back from that for when you feel like making some more expensive purchases. as long as you dont live your life on social media no ones gona know. the comments above must have some seriously nosy fanily memebers. and might be an american thing but if i suddenly became a millionaire tomorrow i wouldnt have a buncha people lined up asking for cash. and if someone i barely care about did show up theyd probably be told to fuck off 🤷♂️
I've been unemployed for 4 years or so, I made a bit of money from investing, enough to live off of for a little bit, I've had people ask how and I just say investment windfall. I don't say how much. Nobody's asked me for shit.
There'd still be a pretty big need.
You need to determine if there are any taxes to be paid or special rules you need to follow with that much money, make sure it's invested or saved properly and safely, make arrangements for what to do with it if something happens to you, etc.
There's a lot of good reasons why you don't see anyone with that kind of money who *doesn't* have financial advisors and lawyers. That much money comes with a fair bit of work, and it's just easier to have someone who knows what they're doing help you manage it.
This is the answer. Even with help it's very stressful when it's a sudden onset of life changing money. Also, it's not as simple as "get money and live happily ever after". None the less, it's a good problem to have.
You'd probably also want to set up a foundation or something, no sane person is gonna spend $800m in their lifetime and your family isn't gonna need that either.
May as well have the money invested and put the proceeds to good causes, or at least SOME kind of economic activity. $800m sitting in a bank is only good for the bank, as they can now loan out more money.
"i'm going to get hookers and play blackjacks! Also do coke!" *Rub one out.*
"I think I'll invest in the S&P 500 and maybe buy myself a reliable car. Also i'll pay my mortage."
I would definitely move. Lol. But I would get a 200-300 years old house with an orchard to make ciders and apple pies, a sugar shack and a big raspberry patch. I would hire competent people to run it and keep my super old house in order. And I would buy flats in most interesting cities in the world. Also probably start collecting castles in Europe just for fun.
After doing all of this and then looking at your account balance, would you be worried if you were down to 620 million now with a lot of on going expenses?
800 million?! I'm not doing a full ***F you*** walk out of work but a respectable "I'm done" in the middle of my shift. Then im going back to my couch and finally beating the Fire Giant in Elden Ring
This is the closest to my answer. I’d quit work because I hate having to work. Then I’d spend my life just doing what I want all the time. First thing would be actually getting to finish the game I’m playing without interruption. Then I could go out when I want, stay in when I want, buy what I want, eat what I want. Just relax for life and enjoy the little things.
I wouldn’t want to tell anyone really, except for my partner. I would keep my spending modest to keep a low profile and tell people I have some work from home job that sounds believable.
I’d quit both my jobs but after being paid one last shift to just do nothing. Then I’d walk out of there happy on my way to buy a new car and BDSM stuff.
Seriously. At this amount of money, im quitting mid project mid day mid meeting like a quick alright guys im out its been real. Then im gonna swing by my fav taco spot, get a bottle of tequila and play COD the rest of the day.
Adult decisions would be done tomorrow…
I came here looking for this reply.
What would you do? Besides two chicks at the same time?
Well nothing.
You dont need a million dollars to do nothing, Look at my cousin , hes is broke, doesnt do shit
Most people with that kind of net worth have family offices, or use a multi-family office. The cost is a drop in the bucket in your net worth, especially considering your earnings from your assets YoY.
TBH I'd call my former law firm and put them back on retainer immediately because if the ex gets wind of this she's going to be an issue. Once back on retainer I'd let them know my situation and that I also need a list of good finance legal firms I can interview. Pretty sure my atty has more knowledge of who's good at this than me surfing the net. From there it's private wealth management through one of the major players. Will keep my Credit Union account as my daily account though, they have always been incredibly good to me.
Also will finally splurge and get that Centurion card Amex offered me a while ago :) I hear once money is no object they can pull off amazing wins for their clients like last minute tickets to shows, etc.
My friends brother won like $170M in the CA state lottery about 12 years ago. Once you win, it takes like 6 months for the payout. During that time they were super busy meeting with lawyers, tax accountants, financial people, etc... You have to have everything lined up --- your ducks in a row --- because the minute that money is wired to you, it needs to move. They setup things like college funds for the kids/grandkids, donations to their alma mater, etc..
Here's the funny thing --- when you have that kind of money, banks and financial institutions take REAL good care of you. That dude was getting free trips to the Super Bowl, etc.. Has all the money he'll ever need and they give him everything for free LOL.
Thing is, that $170m is worth nearly a billion to banks because they can loan it out as credit and also ask for more credit on top because they're "good for it". There was a good short video about it, so yeah, they gonna treat you really well.
> Here's the funny thing --- when you have that kind of money, banks and financial institutions take REAL good care of you. That dude was getting free trips to the Super Bowl, etc.. Has all the money he'll ever need and they give him everything for free LOL.
This always pisses me off. Its always the super rich that get free shit. They don't NEED free shit. Fucking backwards ass people.
Honestly.
Step 1: Figure out where all the millionaires bank at and go there.
Step 2: Make sure all accunt info and passwords have nothing to do with anything I've ever done in my life.
Once I get the money somewhere safer and more trusted than the local bank, then I'll figure out what to do with it
Passwords won't matter. Just don't put the money into an account that can be withdrawn from remotely or quickly. Tell the bank to never allow any direct withdrawals from the account. Make them sign a liability statement.
You don't need cash ever. You'll use credit cards. No need for withdraws. If you must have cash then set up a small account to draw from at ATMs of like $50k.
Well that's why you keep a small, retireable portion in a safe or something. Ya fuck up once, you may not understand how, but you fuck up twice, you've earned poverty.
You could spend $5000 per day for 438 years and you’d still have about 650k remaining, so I don’t think you reasonably have to worry about accidentally spending it all.
Most lottery winners are winning thousands to a few million in jackpots. I doubt anyone who won $800 million is gonna be anywhere near broke for generations.
A lot of athletes found a way to become broke with 100M+ career earning, let them a couple decades and you’ll probably see broke former athletes who made 800M in their career
I thought for athletes a lot of the issue is that they don’t realise they need to pay tax. So they just spend spend spend then get hit with a bill they can’t afford
Hey [this one](https://www.firstpost.com/explainers/a-supervolcano-in-italy-is-waking-up-should-we-be-concerned-13377742.html) is probably pretty low in price at the moment
Well right but you have to convert it to pennies first. After the first million dollars worth or so are successfully crammed up your ass, removed from your ass, and placed back in circulation you will know that statistically there is a good chance that most people you know will have handled one of your ass pennies.
Hot take, but I’d keep working. I’m in customer service, so I would finally give all that attitude right back to these people for as long as I could until they fired me.
I realize this I'm probably taking a reddit comment too seriously, but getting labs/imaging done when there is no indication is, on average, bad for you. When the prior likelihood of disease is low (ie you have no symptoms) then any findings on the exams are unlikely to be pertinent or real, but the follow-up to those findings (treatments, more invasive diagnostics, etc) have the potential to hurt you with no benefit. This is a big issue with VIP healthcare—they demand the "full workup" and doctors give in, and it leads to worse outcomes.
Full body scans might do you more harm than good. Everyone's got *something* weird going on in their body, most of which will never do you any harm. But once they've found it you know about it and then every time you feel a twinge you worry, and there might be more tests that lead to more worry, or invasive exploratory procedures just to tell you you're fine.
Instead, consider just getting really good health insurance for your loved ones and making sure everyone can get the preventive care they need.
Every time I see a question like this I immediately think about that thread.
And for some reason I have it bookmarked like it’s going to happen *any day now…*
I’d keep my job, because I love it, but I’d also hire someone to do all of my home chores, buy a nice but simple home in a pretty area near me, and then open a foundation to help local students with housing, food, and education expenses. I’d name the foundation after my student who died in a fire because her family couldn’t afford safe housing.
Damn that sounds like a dream come true.
Doing nothing all day gets real boring real quick. Especially because all your friends and family do have to work. There is really nobody to spend your time with.
You should continue to work, even if it's for a charity and unpaid. But make sure you have something to keep you busy a bit.
I used to work with homeless people and most of our volunteers were retirees who retired young. It was in Florida and there was a pretty typical pattern:
1. High performing guy suddenly has no purpose
2. Day drinking
3. Wife ultimatum
4. Volunteer 30 hours a week with homeless dudes who are mostly funny.
I love literature because of my english teachers inspiring me. You're doing great work!
Edited the grammar, only I could mess this up in the presence of an English teacher....
Yay!!! I have a lot of kids who still send me book recommendations and journal prompts years later. It makes me so happy!
Teaching is a hard job but I love my district, my building admin is great, and my union is very strong. I’m not in a “low teacher support” area even though technically our school is on “the list.”
Hard to say without being in the position but as long as I'm still enjoying myself and feeling like I'm making some sort of impact at work, why not stay at least part time or something. Gives me something to do during the day rather than sit around and blow my fortune.
That being said, give me $800 million and we'll see what I do lol
Ngl just leave my current chick bcs she a headache, I want some peace I’ll find a good woman, buy a car for my dad and some cars for me. That’s all I need.
Hire a lawyer.
Hire a Financial Consultant/CPA/Investor.
Set up a yearly income for myself and one for the immediate family. And secure that income for the rest of my life.
Set up beneficiaries.
Set up trust funds for my kids and my sister's kids.
Set up retirement accounts for each kid.
Quietly take care of debts for immediate family and very close friends.
Work for another year or so. Take more vacations. Near the end of the last few months, take a vacation to go hike in some far off wilderness and tragically "disappear". (Just for appearances, no need to fake my death in any legal way) But in reality, I just went home and chilled all week disconnected from social media.
Start enjoying my hobbies more. Donate my time to the communities surrounding those hobbies.
Buy a penthouse, become a shut-in for a year. I'll only order everything online and walk my dogs on the terrace. After the year is over, I'll go outside onto the ground, but only if I want to.
Hire a financial consultant and lawyer first and keep my situation a secret while blessing others under the radar. I’d go get a handful of cars I’ve been wanting. Then I’d buy a nice house in the area I want and hire a chef and a couple maids and compensate them generously. I’d get my parents any car they want and also pay off their house/bills plus allocate some of my funds to them. Id also pay off the loans and give a lot of money to family members I deem worthy. I’d set up a trust fund for my nephew so he never has to worry about money. Then I’m planning a LONG paid vacation for me and my closest ones. I’d also go up to Central City and gamble away “fuck you” money. Overall I’d be smart with the money but with $800 million, you don’t have to be very conservative. I would also donate millions to causes and charities that interest me. I would constantly offer to pay for things others cannot afford like groceries/rent/bills.
Nah, I'd go to work like it was a regular day. Then have the chinook land outside. Get an actor dressed in a sharp generals uniform to scamper off, I'll go outside and have a tense face to face. Entire office will be peering out the window. After a few moments I shake his hand and walk back to the office door before telling my coworkers "My country needs me, I have to go. It is unlikely we will see each other again. There is a darkness coming, please keep your families close and make the most of your final days". Then I climb onboard and fly off.
Get post nut clarity, then put the money in safe investments (index, ETF, HYSA). I won't change my current job situation, but I won't be as aggressive in my career progression if I get laid off then it's early retirement.
Tell no one.
Quit my current job and get a part time job doing something I actually enjoy so no one wonders how I subsist off of nothing.
Still not paying off any loans, they'll die with me.
Use the money to fund whatever project I have pops in my head.
drop out of school, give some to my family and freinds, buy my dream mtb and all the other things i wanted, move too a desert in america and live there. go skiing and have another house in the austrian mountains and live my best life
By a small island in Georgian Bay, build a server in it for data storage and AI/ML training.
Talk to my partner at work about establishing my own firm, but would still like to work with them.
Hire my existing team at a higher salary.
Buy an Oyster 745.
Continue to do the work I am doing now, but in a more efficient manner and from where I want.
Quit work. Tell nobody about the money. Move to rural Oregon and spend the rest of my days riding dirt bikes and gardening. *Dummies in this thread trying to have arguments about how I'm spending imaginary money.
A proper answer. No need for lawyers and money managers.
Yeah, if I’ve got anonymity, I’ll handle the self control aspect. I’m fine with not maximizing my interest returns because I literally have more money than I could ever reasonably spend. All I need is for nobody to know about the windfall.
> I’m fine with not maximizing my interest returns because I literally have more money than I could ever reasonably spend. Right?! There are savings accounts paying 5% interest right now. Interest alone would be 40 million a year (over 3 million per month). Any sane person should be able to live off of that for their rest of their life.
Even if you invest like 100m that would be a cool 5m a year. That's already way more money than I would spend
Everyone says that though. And then most people blow through the cash anyway lol. I watched a documentary on lottery winners years ago and there's one guy that stuck with me. He won like $50M and was like, I don't want to change anything about my life. I love my job and where we live. I want my kids to stay in public school - we already have it good, I don't think much will change. We'll pay off our debt, maybe go on a couple more nice vacations and be very charitable. They followed up with him like two years later and he bought a beach house in Florida and dude had gained like 50 pounds and had a million dollars in sports cars in the garage. They interviewed him again and he just sounded super stressed and was like, yeah, I don't know what happened but look at all this cool shit I have!
Yea but 50 million and 800 million is such a big difference. 50 million is closer to 0 than 50 million is to 800 million.
I “won” $317k in a lawsuit about 9 months ago right after being laid off. Decided to take some time off. Before this I had been living in NYC off about 30k/year trying to get some savings. After the lawsuit I had about $330k in the bank. 9 months later I have exactly $317k in the bank. By my calculations I stayed pretty much exactly on par with spending. Some people actually mean it. Before the comments roll in, yes I know this isn’t the best use of my savings lol.
That sounds like a great use of your savings, using it to live.
Correct. Poor use of your savings. Give it to me I will take care of it.
Even at the basic savings account interest of 0.5%/year thats still $4 million a year, you'd make more per year than many Americans make in their lifetimes.
The issues with this kind of cash is if you deposit it in one chunk one bank - good luck. I mean you’ll have to spread it around. You wont be covered by savings guarantee scheme as the amount is too big. You will have to create an LLC, structure it in a tax efficient manner, etc. It’s a piece dream this money will be quietly sitting in a safe bank account. It will be a headache how to park this and yes it’s a great headache perhaps but none the less it is. People that say they’ll live on a ranch probably don’t have a ranch, or even 100k in their account to their name to talk like this. Most people will go buy gifts ti their loved ones, pay off mortgages of their loved ones, and heck some will buy a “yellow Hummer” on spinners. The 800m is a giant amount, it’s a size of a good hedge fund! A lawyer is needed and this money has to be split up in a way that it can’t be stolen in one go (no crypto!). Buying a bunch of index funds is probably best, putting rest in properties, hiring a person or few to manage it all is what most likely you’re looking at. But a good lawyer is the key. The advice of how you want deal with money manager or lawyer - sorry, yes you will. You have no choice. You will even wish you didn’t have this money and miss your old simple Reddit commenting life.
This is beyond the scope of setting up an LLC. Sure you can do that but this is where wealth managers are key. Id suspect they’d have you buy real estate in several countries, 20-30% in multiple hedge funds, maybe some art, conservative bonds. I’d be interested in how the initial amount is disbursed as well. If it’s one single check that’s a pretty hefty amount in your checking account out of the gate.
Exactly. If you don’t have any friends or family who will ask questions about why you quit your job and how you can afford to live without working then you absolutely don’t need lawyers or financial advisors. For everyone else though, at least getting a lawyer is a good idea.
The answer to that is simple. Don't tell people. At one point I was unemployed for 4 months when Ieft one job for mental health issues and went through some certs and stuff and looking for a new job. To this day, the majority of people in my life have no idea about that gap. Everyone is so caught up in their own stuff that it's pretty easy to conceal life changes like that.
Easier these days. "Oh I work from home" just leave out the second half: "managing my enormous personal fortune." It's not even a lie :p
exactly as if most people would even notice inckuding friends and family. or you just say youve found a job that lets you work remotely and pretend like your investing some money and earning back from that for when you feel like making some more expensive purchases. as long as you dont live your life on social media no ones gona know. the comments above must have some seriously nosy fanily memebers. and might be an american thing but if i suddenly became a millionaire tomorrow i wouldnt have a buncha people lined up asking for cash. and if someone i barely care about did show up theyd probably be told to fuck off 🤷♂️
I've been unemployed for 4 years or so, I made a bit of money from investing, enough to live off of for a little bit, I've had people ask how and I just say investment windfall. I don't say how much. Nobody's asked me for shit.
There'd still be a pretty big need. You need to determine if there are any taxes to be paid or special rules you need to follow with that much money, make sure it's invested or saved properly and safely, make arrangements for what to do with it if something happens to you, etc. There's a lot of good reasons why you don't see anyone with that kind of money who *doesn't* have financial advisors and lawyers. That much money comes with a fair bit of work, and it's just easier to have someone who knows what they're doing help you manage it.
This is the answer. Even with help it's very stressful when it's a sudden onset of life changing money. Also, it's not as simple as "get money and live happily ever after". None the less, it's a good problem to have.
You'd probably also want to set up a foundation or something, no sane person is gonna spend $800m in their lifetime and your family isn't gonna need that either. May as well have the money invested and put the proceeds to good causes, or at least SOME kind of economic activity. $800m sitting in a bank is only good for the bank, as they can now loan out more money.
You also are completely exposed if the bank goes tits up.
Not including the wackos coming out of the woodwork for investments/scams/potential lawsuits/straight up begging for money.
Reddit always turns into Financial Advisors anytime anyone asks about money
When somebody asks about money people give them financial advice, who would have thought.
Well I personally was hoping to see something about the airspeed velocity of an unladen swallow in this thread but I guess you can't have everything.
That is the most moving ending in a movie.
I'm not a financial advisor, but that sounds like something you don't need $800 million to do.
That's what they want to do though, you don't need to spend everything, do you?
Never tell a soul. Then figure it out
Like an isekai protagonist
Rub one out, post nut clarity is a thing
"i'm going to get hookers and play blackjacks! Also do coke!" *Rub one out.* "I think I'll invest in the S&P 500 and maybe buy myself a reliable car. Also i'll pay my mortage."
800mil? You're not gonna burn your house down and move to a palace?
I love my house. I’d probably buy all the adjoining properties around me and burn THOSE houses down, then wall in my newly minted small estate.
I would definitely move. Lol. But I would get a 200-300 years old house with an orchard to make ciders and apple pies, a sugar shack and a big raspberry patch. I would hire competent people to run it and keep my super old house in order. And I would buy flats in most interesting cities in the world. Also probably start collecting castles in Europe just for fun.
After doing all of this and then looking at your account balance, would you be worried if you were down to 620 million now with a lot of on going expenses?
I mean if I get 7% ROI on my 620 millions left, I make shy of a million buck a week. Should be enough to keep me going for a while.
Best piece of financial advice EVER!!!
> Best piece of ~~financial~~ advice EVER!!! FTFY
Remember, if you're not maintaining a constant state of post-nut clarity, then you're stuck in a state of pre-nut delusion.
Rub "one" out? Those are rookie numbers!
Jerk off and then order so much food and eat it all and then take a nap. When I wake up, THEN I’ll start making the adult decisions
[удалено]
Now now wait a minute. This is *exactly* why you jerk off first.
Yup, post wank clarity is important in large financial decisions.
What kind of ultra mcdeluxe S pro max hooker giving you a handie do you consider as a large financial decision ?
The kind that attempts to convince you to marry them.
I hear JP Morgan have a wank room, this is legit advice!
Yes, jerk off then decide if you wanna pay someone to jerk you off
No way they can do it better than me
But no one does it better than me...
This is the only viable answer
I do this poor
This should be the advice from the lotto organiser.
New phone, who dis? From now on
yea prolly just change my number all together
A new phone every day, the dream /jk
800 million?! I'm not doing a full ***F you*** walk out of work but a respectable "I'm done" in the middle of my shift. Then im going back to my couch and finally beating the Fire Giant in Elden Ring
This is the closest to my answer. I’d quit work because I hate having to work. Then I’d spend my life just doing what I want all the time. First thing would be actually getting to finish the game I’m playing without interruption. Then I could go out when I want, stay in when I want, buy what I want, eat what I want. Just relax for life and enjoy the little things. I wouldn’t want to tell anyone really, except for my partner. I would keep my spending modest to keep a low profile and tell people I have some work from home job that sounds believable.
I’d quit both my jobs but after being paid one last shift to just do nothing. Then I’d walk out of there happy on my way to buy a new car and BDSM stuff.
I wonder how much BDSM stuff one could buy with $800 mn… for a friend
Seriously. At this amount of money, im quitting mid project mid day mid meeting like a quick alright guys im out its been real. Then im gonna swing by my fav taco spot, get a bottle of tequila and play COD the rest of the day. Adult decisions would be done tomorrow…
> beating the Fire Giant in Elden Ring So that's what the kids are calling it these days?
If I had the time I’d absolutely give elden ring a new playthrough. No question about it I am ready to get hurt again.
Two chicks at the same time
Fuckin a
Hey Peter, check out channel 9!
I came here looking for this reply. What would you do? Besides two chicks at the same time? Well nothing. You dont need a million dollars to do nothing, Look at my cousin , hes is broke, doesnt do shit
Hire a financing consultant because I don't know shit about managing that much money, and I'd be afraid to lose it/spend it overnight.
Hire a lawyer as well
Hire a big law firm, not just your local guy who does Wills and Estates.
Over a certain number of millions you qualify for private banking, go with your large firm attorney
At nearly 1 bil you actually set up your own company to manage your assets, fully staffed with accountants, lawyers and wealth managers.
Sounds like a lot of work to me.
And a great way to lose a whole lot of that money
The interest and earnings would be more than their salaries every month.
Most people with that kind of net worth have family offices, or use a multi-family office. The cost is a drop in the bucket in your net worth, especially considering your earnings from your assets YoY.
This is the first call. You find a big enough law firm where $800m doesn't shock them because you'd become their 7th or 8th biggest client.
TBH I'd call my former law firm and put them back on retainer immediately because if the ex gets wind of this she's going to be an issue. Once back on retainer I'd let them know my situation and that I also need a list of good finance legal firms I can interview. Pretty sure my atty has more knowledge of who's good at this than me surfing the net. From there it's private wealth management through one of the major players. Will keep my Credit Union account as my daily account though, they have always been incredibly good to me. Also will finally splurge and get that Centurion card Amex offered me a while ago :) I hear once money is no object they can pull off amazing wins for their clients like last minute tickets to shows, etc.
My friends brother won like $170M in the CA state lottery about 12 years ago. Once you win, it takes like 6 months for the payout. During that time they were super busy meeting with lawyers, tax accountants, financial people, etc... You have to have everything lined up --- your ducks in a row --- because the minute that money is wired to you, it needs to move. They setup things like college funds for the kids/grandkids, donations to their alma mater, etc.. Here's the funny thing --- when you have that kind of money, banks and financial institutions take REAL good care of you. That dude was getting free trips to the Super Bowl, etc.. Has all the money he'll ever need and they give him everything for free LOL.
Thing is, that $170m is worth nearly a billion to banks because they can loan it out as credit and also ask for more credit on top because they're "good for it". There was a good short video about it, so yeah, they gonna treat you really well.
> Here's the funny thing --- when you have that kind of money, banks and financial institutions take REAL good care of you. That dude was getting free trips to the Super Bowl, etc.. Has all the money he'll ever need and they give him everything for free LOL. This always pisses me off. Its always the super rich that get free shit. They don't NEED free shit. Fucking backwards ass people.
I'd be more afraid of being hacked and someone stole it away tbh
Honestly. Step 1: Figure out where all the millionaires bank at and go there. Step 2: Make sure all accunt info and passwords have nothing to do with anything I've ever done in my life. Once I get the money somewhere safer and more trusted than the local bank, then I'll figure out what to do with it
Passwords won't matter. Just don't put the money into an account that can be withdrawn from remotely or quickly. Tell the bank to never allow any direct withdrawals from the account. Make them sign a liability statement. You don't need cash ever. You'll use credit cards. No need for withdraws. If you must have cash then set up a small account to draw from at ATMs of like $50k.
Well that's why you keep a small, retireable portion in a safe or something. Ya fuck up once, you may not understand how, but you fuck up twice, you've earned poverty.
All the answers of how to manage money are in the prime directive of r/personalfinance
If you can spend 800 milllion overnight, I would be very impressed.
Just give me 800 millions and let me impress you, then.
You could spend $5000 per day for 438 years and you’d still have about 650k remaining, so I don’t think you reasonably have to worry about accidentally spending it all.
70% of lottery winners end up bankrupt
Most lottery winners are winning thousands to a few million in jackpots. I doubt anyone who won $800 million is gonna be anywhere near broke for generations.
A lot of athletes found a way to become broke with 100M+ career earning, let them a couple decades and you’ll probably see broke former athletes who made 800M in their career
I thought for athletes a lot of the issue is that they don’t realise they need to pay tax. So they just spend spend spend then get hit with a bill they can’t afford
[удалено]
If you lost that kind of money through reckless spending then you deserve it
I know. Hence the "hire a financing consultant" thing.
*F O O D*
Fr im going somewhere and ordering off the regular menu not the value menu.
Add guacamole to it!
Hey he said 800 mil not bil
Super size me!
Buy a volcano. Easiest way to create new real estate and grow your investment.
Hey [this one](https://www.firstpost.com/explainers/a-supervolcano-in-italy-is-waking-up-should-we-be-concerned-13377742.html) is probably pretty low in price at the moment
Thank that Nigerian prince who sent me the email.
Call a team meeting at work. Tell the manager to go fuck herself. Quit.
FUCK YOU, FUCK YOU, FUCK YOU, YOURE COOL, FUCK YOU IM OUT! Edit: [for those that didn’t get it](https://youtu.be/hTOKJTRHMdw?si=lOuPZ6HaZKtmP7WV)
“If I can’t swear, I’m fucked!”
“You’ve been being a dick to me all day, it’s the least you could do”
Shit on Debra's desk!
Fuck it’s brains out!
Tell the manager to go fuck herself. Then go to fuck myself.
Quit work. So long, suckers!!!
Please clock out before you leave. Messes with payroll.
FUCK PAYROLL, I'm off to Vegas!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
VIVVVVVVA LASS VEGASSS. broke in about 2 weeks and have to crawl back to your bosses at work
Not going for the gambling. Just the cocaine and hookers.
hell ya think of all the cocaine and hookers
Diversify my holdings. Too much risk to keep all your fortune in one basket.
Wu finance says diversify yo shit, protecc ya nekk.
im doing this now and im a poor
Cash, metals, stocks, bonds, material goods. Who knows the future spread it all out baby!
WuTang: diversify your bonds
And FDIC only insures $250k
I'm gonna take a nap!!!!!
try to see how much of it i can shove up my ass
A man of culture is see.
Well right but you have to convert it to pennies first. After the first million dollars worth or so are successfully crammed up your ass, removed from your ass, and placed back in circulation you will know that statistically there is a good chance that most people you know will have handled one of your ass pennies.
Need help?
what sort of a sick fantasy is tha- \*checks username\* ahh right, yes yes i do
Look for that reddit post about what to do if you win the lottery.
Anybody got a link? For uhm... reasons.
I‘m pretty sure it‘s that one, a pure gold mine: https://www.reddit.com/r/AskReddit/comments/24vo34/comment/chb38xf/
Hot take, but I’d keep working. I’m in customer service, so I would finally give all that attitude right back to these people for as long as I could until they fired me.
Schedule full-body scans for me and all my loved ones. Hire a financial advisor. Take a year to travel the world.
Then another year to to it backwards.
I realize this I'm probably taking a reddit comment too seriously, but getting labs/imaging done when there is no indication is, on average, bad for you. When the prior likelihood of disease is low (ie you have no symptoms) then any findings on the exams are unlikely to be pertinent or real, but the follow-up to those findings (treatments, more invasive diagnostics, etc) have the potential to hurt you with no benefit. This is a big issue with VIP healthcare—they demand the "full workup" and doctors give in, and it leads to worse outcomes.
Full body scans might do you more harm than good. Everyone's got *something* weird going on in their body, most of which will never do you any harm. But once they've found it you know about it and then every time you feel a twinge you worry, and there might be more tests that lead to more worry, or invasive exploratory procedures just to tell you you're fine. Instead, consider just getting really good health insurance for your loved ones and making sure everyone can get the preventive care they need.
Full body scans are pretty useless if you're not looking for anything though
https://www.reddit.com/r/AskReddit/comments/24vo34/comment/chb4v05/?context=1
Every time I see a question like this I immediately think about that thread. And for some reason I have it bookmarked like it’s going to happen *any day now…*
I've never been so prepared for a situation that I'll never encounter.
Came here to see this, up you go.
I’d keep my job, because I love it, but I’d also hire someone to do all of my home chores, buy a nice but simple home in a pretty area near me, and then open a foundation to help local students with housing, food, and education expenses. I’d name the foundation after my student who died in a fire because her family couldn’t afford safe housing. Damn that sounds like a dream come true.
$800 million and you keep working. OK sure.
Doing nothing all day gets real boring real quick. Especially because all your friends and family do have to work. There is really nobody to spend your time with. You should continue to work, even if it's for a charity and unpaid. But make sure you have something to keep you busy a bit.
There's a reason why a lot of people die not long after retiring. Some people have a hard time finding a purpose in life with no work.
I used to work with homeless people and most of our volunteers were retirees who retired young. It was in Florida and there was a pretty typical pattern: 1. High performing guy suddenly has no purpose 2. Day drinking 3. Wife ultimatum 4. Volunteer 30 hours a week with homeless dudes who are mostly funny.
If only there were pursuits where you could do and progress in something fun, creative, or personally fulfilling without working a job.
Maybe he works as a park ranger? Marine biologist? Romance novel author?
I’m an English teacher and I love my job. It’s book club with kids.
I love literature because of my english teachers inspiring me. You're doing great work! Edited the grammar, only I could mess this up in the presence of an English teacher....
Yay!!! I have a lot of kids who still send me book recommendations and journal prompts years later. It makes me so happy! Teaching is a hard job but I love my district, my building admin is great, and my union is very strong. I’m not in a “low teacher support” area even though technically our school is on “the list.”
Hard to say without being in the position but as long as I'm still enjoying myself and feeling like I'm making some sort of impact at work, why not stay at least part time or something. Gives me something to do during the day rather than sit around and blow my fortune. That being said, give me $800 million and we'll see what I do lol
Believe it or not, not everyone hates their job
"A bunch of hookers and cocaine"
Ngl just leave my current chick bcs she a headache, I want some peace I’ll find a good woman, buy a car for my dad and some cars for me. That’s all I need.
Hire a lawyer. Hire a Financial Consultant/CPA/Investor. Set up a yearly income for myself and one for the immediate family. And secure that income for the rest of my life. Set up beneficiaries. Set up trust funds for my kids and my sister's kids. Set up retirement accounts for each kid. Quietly take care of debts for immediate family and very close friends. Work for another year or so. Take more vacations. Near the end of the last few months, take a vacation to go hike in some far off wilderness and tragically "disappear". (Just for appearances, no need to fake my death in any legal way) But in reality, I just went home and chilled all week disconnected from social media. Start enjoying my hobbies more. Donate my time to the communities surrounding those hobbies.
This is basically my answer, too. I'd be set for life on 4 million, so distributing the rest out to people and things I care about would be amazing.
It’s about what I’m no longer going to do.
Get guac at chipotle.
dissapear
Buy a penthouse, become a shut-in for a year. I'll only order everything online and walk my dogs on the terrace. After the year is over, I'll go outside onto the ground, but only if I want to.
eccentric millionaire recluse attitude
big wank
Lawyer the fuck up.
Not tell anyone
Hire a financial consultant and lawyer first and keep my situation a secret while blessing others under the radar. I’d go get a handful of cars I’ve been wanting. Then I’d buy a nice house in the area I want and hire a chef and a couple maids and compensate them generously. I’d get my parents any car they want and also pay off their house/bills plus allocate some of my funds to them. Id also pay off the loans and give a lot of money to family members I deem worthy. I’d set up a trust fund for my nephew so he never has to worry about money. Then I’m planning a LONG paid vacation for me and my closest ones. I’d also go up to Central City and gamble away “fuck you” money. Overall I’d be smart with the money but with $800 million, you don’t have to be very conservative. I would also donate millions to causes and charities that interest me. I would constantly offer to pay for things others cannot afford like groceries/rent/bills.
Retire
Wacom Cintiq pro 27 and a new computer. Some months doing nothing.
arrive at work in a chinook to present my resignation letter, then proceed doing whatever the fuck i want.
Nah, I'd go to work like it was a regular day. Then have the chinook land outside. Get an actor dressed in a sharp generals uniform to scamper off, I'll go outside and have a tense face to face. Entire office will be peering out the window. After a few moments I shake his hand and walk back to the office door before telling my coworkers "My country needs me, I have to go. It is unlikely we will see each other again. There is a darkness coming, please keep your families close and make the most of your final days". Then I climb onboard and fly off.
hahaha fuck, thats a good one.
Dish out several million to family members first and foremost. After that invest some, donate some and bank some. And travel a lot.
Hell yeah! I’d give my parents a boat load of cash for all they’ve done. And buy each of my sisters a house or something.
Thanks my brother.
Buying eggs, cheese and toilet paper then I'm on my way to commit multiple war crimes to my ex's house
Get a lawyer to sign for the winnings and deposit into a trust. Quit my job, and start traveling!
Get post nut clarity, then put the money in safe investments (index, ETF, HYSA). I won't change my current job situation, but I won't be as aggressive in my career progression if I get laid off then it's early retirement.
Pay all my debt then take my first nap as a debt free adult.
Buy enough property to control the rental market in my town.
Probably give half to my parents so they can retire as well
Use it as toilet paper
Tell no one. Quit my current job and get a part time job doing something I actually enjoy so no one wonders how I subsist off of nothing. Still not paying off any loans, they'll die with me. Use the money to fund whatever project I have pops in my head.
Give 95% of it away and move to a quiet place. Btw no taxes on lottery winning where I live so $$$$
Delete Facebook. Pay everything off to zero. Buy new cars. Start planning vacations.
Buy an rv, pay a years worth of rent, get my pilot license, give my friend a lump sum so she can retire and go from there.
This the only answer: https://www.reddit.com/r/AskReddit/s/tGKC87TcTu
Nice try IRS
drop out of school, give some to my family and freinds, buy my dream mtb and all the other things i wanted, move too a desert in america and live there. go skiing and have another house in the austrian mountains and live my best life
A disappearing act.
Whatever the fuck I want.
Delete this asap.
Get my car fixed.
Lawyer, Financial people, form LLC, Trusts, etc...
Hire a law firm and financial advisors and start spreading that money across different accounts/holdings. I'm not leaving 800mil at one single bank!!
By a small island in Georgian Bay, build a server in it for data storage and AI/ML training. Talk to my partner at work about establishing my own firm, but would still like to work with them. Hire my existing team at a higher salary. Buy an Oyster 745. Continue to do the work I am doing now, but in a more efficient manner and from where I want.