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"If You Won The Lottery" - With a Twist (alien.top)

submitted 1 year ago by CovertOps80@alien.top to c/entrepreneur@indiehackers.space

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Honest question for the entrepreneurial (merely for personal use!) What would you do if you won the lottery, but:

With $1 million
With $2 million
With $5 million
With $10 million
With $20 million

What would you purchase, invest in, create (eg. businesses, etc.) etc.?

What would be your financial goal, how much is "enough?"

Where would be your base, would you move; why?

What if you were a good person, ethical, not predatory or selfish, and wanted to do good?

What if you were religious, and wanted to give back, or start an initiative?

What if you were a woman, would it have any bearing on what you would/could do, or its ease?

How would you put this windfall to its best use, for both you and others, to maximize it, in perpetuity?

You don't have to answer all the questions, it's moreso testing business savvy, financial literacy, trends, and a balanced life; and generating interesting discussions.

Thank you for your contributions. 🙏🏻

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[–] betteringyou@alien.top 1 points 1 year ago

All I would really need is $1M liquid, and ensure my lifestyle doesn't change much. Pay off my debts as well as my families. However, keep the mortage as the rate is low enough and the oppurtunity cost of throwing a lump sum of cash away at that would be foolish.

First, buy some land in rural MO for personal use as well as an investment.

Diversify the heck out of the rest, throw most of it at a moderate to high risk index fund (VOO), but also have some bonds, CDs, etc. in the mix.

I am only 25, so I am fine with the risks associated and the volatility of the market.

Have maybe $50k or so in cash, and just keep doing what I am already doing everyday as fortunately, my work is play.

Additionally, I don't know anything about real estate so I wouldn't allocate money there until I felt ready to do so.