What will you do if you suddenly received a big sum of money?

Discussion in 'General Chat' started by OurPrinceNiki, Jan 11, 2021.

  1. Baldingere

    Baldingere Roseau pensant

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    Buy buildings, land and invest in shares with it.
     
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  2. the_TRASH

    the_TRASH Active Member

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    House for my mum.
    A car for my Dad.
    And a bar/café for my sis.

    Then I'd find myself a good house in a safe and not populated location and read all novels I want without being disturbed... And also SPA treatment now and then.

    I guess savings is also important, yeah?
     
  3. Jevanka926

    Jevanka926 Grumpy and Awkward <3

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    Invest 50% for my retirement fund, give 30% to my parents, then use the rest for myself (traveling, a house maybe, and education). If I still got some left I would put them into my savings.

    Wait, getting spa treatments and buying make ups also sounds cool
     
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  4. Isaac20

    Isaac20 Observer | A Red Sibling | Holy Knight

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    Hmm... Idk. Up to this point I have everything I need. So maybe I should open a fund for orphans.
     
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  5. Deleted member 309680

    Deleted member 309680 Guest

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    buy a house, car and save the leftover
     
  6. SerialBeggar

    SerialBeggar Well-Known Member

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    Never use up or lock up all of the money in the first year because you still need to pay taxes on it and most likely, the big surprise money bumped you up a tax bracket, so you'll owe quite a bit more. Always have a batch of money on the side for taxes.
     
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  7. infiniteli

    infiniteli Member

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    invest the shit outta it after all my CC has been paid. and make more money.
     
  8. Beren

    Beren Holy Saint

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    Talk to my financial advisor and get a lawyer.
    Never tell anyone about it.
     
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  9. katofu

    katofu Well-Known Member

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    Id temporarily hire a accountant or financial advisor and let them guide me for a bit and show me what i need to invest in blah blah and then figure the rest out myself
     
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  10. Deleted member 310141

    Deleted member 310141 Guest

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    talk to financial advisor, buy house, give few to my parents, invest
     
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  11. Tinty89

    Tinty89 Well-Known Member

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    Depends on how much, and how I came about it. But probably hire an accountant and financial advisor to help me with investing, taxes, and such.
     
  12. Shio

    Shio Moderator Staff Member

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    It's better if no one know I won the lottery, so I will just dump it in stock/forex/investment/bonds and enjoy my life quietly
     
  13. Ai chan

    Ai chan Queen of Yuri, Devourer of Traps, Thrusted Witch

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    How big? How much of it will be lost to taxes? How many people will know Ai-chan got the money? Who will know Ai-chan got the money?

    Depending on the answers to the questions above, Ai-chan could decide to buy a private island and turn it into a nudist colony or the venue of Survivor Pacific or refuse it altogether. Samsung's heir refuse to confirm that his father died because if his father did die, he will become poor from the inheritance tax.
     
  14. SerialBeggar

    SerialBeggar Well-Known Member

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    Another thing about taxes:

    *NOTE: I'm not a financial advisor, accountant, or legal expert. I've just read about things and money in interesting.

    Say you won a big lottery, if you accept all of the money, then you will pay taxes on it, obviously. Now, say you're generous and want to share the money with others, like your family, friends, or coworkers. In the USA, there is a Gift Threshold of $15K per recipient where YOU don't have to report the gift. Note: gift rules don't apply to your spouse. For any amount over the $15K, YOU will have to file a Gift Tax Return. And depending on how much that was, YOU can be taxed 18-40% on it. In other words, that part of your winnings you gave to someone is TAXED TWICE!

    Thus if you already plan to share your lottery win with others, you should claim the payout as a GROUP, ie the lottery cuts a check out for each member of the group and everyone is taxed. I've read that some states have specific rules regarding groups, so you'll have to check up on that. For example, one person should not claim the winning "for the group", everybody in the group must claim the winnings together. I've also read that some lottery administrators are accommodating if you want to specify different percentage payouts for each individual.
     
    Last edited: Jan 14, 2021
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  15. Joker13

    Joker13 Sleep Deprived Fool #stanConan

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    depends on how much it is,
    but probably, buy a new laptop
    and then put the rest in a savings account
     
  16. FIEND

    FIEND Unholy Pope ╬

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    student debt yo
     
  17. Lovable

    Lovable Well-Known Member

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    Term deposits
    Do equity investments with small amount for the first move
    Start a business with potential market
    Buy the properties

    But the most important thing, makes my parents happy and granted their wishes.
     
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  18. The vulture

    The vulture Member

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    Buy a house, get married and put the rest of the money in Fd and get monthly income as intrest
     
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  19. SerialBeggar

    SerialBeggar Well-Known Member

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    Well, there it is. The Mega Millions lottery's current jackpot is $1 Billion.
    The Powerball lottery would have gone to a Billion too by next week, but someone won it yesterday ($730 million).
    People like to say that the lottery is a poor person's tax, but hey, someone always wins. All you need to do is shell out for 1 ticket and it could be you.
     
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  20. ANonMouse

    ANonMouse Well-Known Member

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    If it's $1 Billion pretax like people are talking about with the powerball lottery....well, technically I'm already all set for life unless I end up with a expensive and continuous medical issue. With that amount of money falling into my lap, I'd probably just chase a dream and start an erotic game company.

    I've been quite annoyed at how various japanese ero game companies like illusion evolved over time, and I'd love to be able to throw away a huge amount of money and gamble on whether or not the market will support AAA quality ero games that are actually made with passion and innovation. It feels like it should be a golden era for ero games with steam opening up for them and with external funding for superindies through services like patreon, but it feels like none of the ones with a lot of money put into them are actual quality games anymore. All the quality are in the indie scene atm essentially (aside from KISS, but they've been incredibly slow in releasing English versions of their dlc for their latest project, to a point where I'm not sure if they want to keep their foreign marketshare or not).