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Diotrephes · 70-79, M
Most people are clueless as to how much $200,000,000 really is. If it is a lump sum you can safely put it in multiple CDs and get at least $7,000,000 net in interest the first year.
Could you live off of $7,000,000 a year?
Other investments will pay more but you could lose some principal.
If you just had it all in a pile you could spend $500,000 per month for 400 months (33 years 4 months). How would you spend $500,000 a month given your current lifestyle?
If you let other people control your money they will end up with it and you will lose a lot of it.
Of course, with a $200,000,000 lottery win you could simply split it up into equal shares for your family members. So suppose there are 5, including yourself. That is $40,000,000 each. If there are 10, that is $20,000,000 each. Such an arragement would avoid jealousy and envy and may even save your life, depending on how sane your family members are.
Remember, family should come first before any gifts to charities.
Could you live off of $7,000,000 a year?
Other investments will pay more but you could lose some principal.
If you just had it all in a pile you could spend $500,000 per month for 400 months (33 years 4 months). How would you spend $500,000 a month given your current lifestyle?
If you let other people control your money they will end up with it and you will lose a lot of it.
Of course, with a $200,000,000 lottery win you could simply split it up into equal shares for your family members. So suppose there are 5, including yourself. That is $40,000,000 each. If there are 10, that is $20,000,000 each. Such an arragement would avoid jealousy and envy and may even save your life, depending on how sane your family members are.
Remember, family should come first before any gifts to charities.
