10-23-2021, 12:59 PM
My answer is pretty boring. I would take a small percentage of the winnings (say a million or two) and allow myself only to spend that within the first year or two. With that money I'd buy some nice things, but nothing crazy.
I'd buy a nice house here for 500k, maybe a 50k Lexus or Acura, and treat myself to a lot of toys that won't necessarily put a much of dent in my winnings; things like a state of the art TV, PS5, a state of the art surround system, all new furniture, a few nice guitars, etc. I'd also take a couple very nice and extended vacations.
I feel like this approach would allow me to ease into being filthy rich. I'd still get to have some fun and my standard of living would immediately improve but I would leave 95% of my fortune untouched until I can really get a handle on it. I'm going to want and need lawyers/accountants/advisors, etc.; that's going to take time. It's also going to take me time to wrap my head around all of this.
I could be wrong, but I think a big mistake many people make is immediately buring through huge percentges of their new wealth. I feel like much can be gained to taking a deep breath and slowing ramping up your spending until you have a plan in place.
I'd buy a nice house here for 500k, maybe a 50k Lexus or Acura, and treat myself to a lot of toys that won't necessarily put a much of dent in my winnings; things like a state of the art TV, PS5, a state of the art surround system, all new furniture, a few nice guitars, etc. I'd also take a couple very nice and extended vacations.
I feel like this approach would allow me to ease into being filthy rich. I'd still get to have some fun and my standard of living would immediately improve but I would leave 95% of my fortune untouched until I can really get a handle on it. I'm going to want and need lawyers/accountants/advisors, etc.; that's going to take time. It's also going to take me time to wrap my head around all of this.
I could be wrong, but I think a big mistake many people make is immediately buring through huge percentges of their new wealth. I feel like much can be gained to taking a deep breath and slowing ramping up your spending until you have a plan in place.
