What would you if you won a huge lottery jackpot?

Let's say that you won a HUGE lottery jackpot,let's say $400 million USD after all of the fees and taxes were paid.Exactly what would you do if your money and how would it change your life?No frivolous or silly answers please;I want an honest and realistic response.

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Iwillwait · M

I would seek Financial Advice for Tax strategies, most likely accept the winnings in Trust or 501c3, set up multiple foundations that are heavily invested, with about 30% into Medium to High-risk investment vehicles, the rest in other diversified areas such as Real Estate/RIT Inveatments with a scheduled pay-out to be administered to various Churches, Charities and Philanthropic benefits to raise more money for other causes.

DavidT8899 · 22-25, M

@Iwillwait You would do well to go to a large investment firm that has "in house"tax attorneys to handle that end of it;a "one stop shop" if you will.

Iwillwait · M

@DavidT8899 I would have to seek that level of service, but I would farm out each aspect seperately for "Accounting Accountability," via forensic accounting Audits.

DavidT8899 · 22-25, M

@Iwillwait You COULD that,but it would get alot more complicated -and expensive.I would just find one firm that I'm reasonably sure I could trust, although it realize that finding one may be easier said than done.

Iwillwait · M

@DavidT8899 I would use one firm for the initial set-up of the Trust's/Corporation/501c3's and their accounts and Tax declaration, but then I would break away and have seperate Management for each, and their own Accounting. Each Organization would be subject to Annual or Bi-Annual audits via 3rd party, for compliances and accuracy.

DavidT8899 · 22-25, M

@Iwillwait Again,that could be done but it would get VERY complicated and VERY expensive.

Iwillwait · M

@DavidT8899 You're correct, however those are all deductible expenses and this would save more money in the long run.

DavidT8899 · 22-25, M

@Iwillwait And there's yet another option,at least if you live near or in a major American city.Instead of going to a national or multi-national firm,you could always try a local one .They are "closer to home",but usually have the expertise and prestigious to handle the issues that the super -large firms do.

Iwillwait · M

@DavidT8899 I totally agree and would most likely interview two or three entities before making my decision. (Same for Attorneys)

Honestly I would probably start with who is managing our Church's portfolio first.

DavidT8899 · 22-25, M

@Iwillwait Well,they do have independent agencies who rate those kind of firms.Or you could hire your own investigator.Things to look for:total amount of assets the firm handles;number of consumer complaints filed against the firm;and,length of time the firm had been in business.

Iwillwait · M

@DavidT8899 Thank you, all great points to consider.

Now... let's see what happens. 😊