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 WHO's the MOST CLEVER ANSWER? |
Hi,
Here is the question,
I really thank you, can you please explain me a litte bit;
I have found a new kind of hot drink.
Last week I have send an email ... |
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 My wife and I are going to receive over $100K tax free. What's the best investment for it? |
Additional Details
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Yo | If you won the lottery, what would be the best way to invest this to live off the interest? |
I've played around with this scenario (as I'm sure many other have): say you win the lottery. What would be the best, and most stable, way to invest this so that you could live off a steady, fixed residual income based on the winnings, WITHOUT spending any of the winnings?
So say the reward was $1,000,000... is there a steady investment that would guarantee you 5% (so roughly the same as making $50K a year pre-tax).
Any thoughts about this? What would the best investment scenario be for a situation like this?
(and the irony is, I never play the lottery... but it's still fun to speculate) |
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Jenny
|
Yes, safe boring index funds. They have a historical return of about 8-9% over time. Plus you should divide up the moneys so that you develop a diverse portfolio and protect your $. CDs are not an option, although it is a guaranteed return of about 5% these days, because there is always a cap on how much you can invest, usually $100K. But you can put that amount in as well for you "petty cash". All in all, it is definately possible to just live off the steady stream of interest, its what the rich do! |
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Rich Z
 |
I think before you jump into the arithmetic, if it ever truly happened (fat chance but always entertaining), you should realize that your first step should be to go to a reliable annuity company and have them give you a proposal. They should be able to look at your life expectancy, look at your money desires, and craft something that will give you what you want. I don't think you want to live just off the interest. I think you also want to draw down some of the principal. The goals is that after a full lifetime of a guaranteed high income you slide penniless and worn-out into your grave. Now that is maximizing your life style from the winnings. (If you want to give people gifts like houses they can build that into the annuity to still meet the original goal of max income all life long). |
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Redrom
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CODs and long term investments ALWAYS. The shorter the investment the lower the payout |
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Nubian B
 |
Invest some in long-term mutual funds, some in stock funds, and some in international mutual-stock funds. |
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Latin Techie
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Yes there are several ways to achieve this, Treasury Bills(TBs), Mutual Funds,Certificate of Deposit (CDs) accounts from say three to five years contracts at major banks which would return to you a nice steady secure annual interest income, which by the way if it were possible, left on the original deposit would compound the returns! There are banks I know of paying up to 8.25% per annum on such long term CD accounts and 11% on TBs! Now isnt that nice! |
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Screaming Eagle
 |
Assuming that you took in $1,000,000.00 after taxes and that you are in the USA.
You could invest in tax free municipal bonds, assuming a yield of 4.4% per year, you would get $44,000 per year free from federal income taxes, or $3,666.66. per month. Assuming you want it to grow, you might reinvest some of that to counter inflation |
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badkitty_dc
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Rental properties. Land is always a sound investment. And municipal bonds. |
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easywintoo
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For starters, you're not going to get $1,000,000. There taxes to be paid which is roughly 33%. So right off the bat, you're down to about $650,000. And if you choose to take it in one lump sum, the figure goes down some more... I am not sure by how much but your lump sum is about $500,000. So 5% of that is only $25,000 a year... hey don't quit your day job and hire yourself a good financial advisor which will be hard to find because they will hound you like there is no tomorrow and you will probably get cheated some how.
And now to finally answer your question. Buy global mutual funds. Bet the whole thing on the world's economy. This way you have everyone in the world working to make you richer. You can probably expect a return of close to 10% over the lifetime of your investment (if it's a good mutual fund).
And for that depending on your lifestyle, you can retire a little bit early. :-) |
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mangaya2
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Just want to add to all good ideas above.
Invest in your self by more learning and education to upgrade your skills.
If you have kids, also invest money on them, by providing better education environment learning plan for the long run.
good luck |
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shoby_shoby2003
 |
If you won the lottery, you would be told this at the time by financial advisors. |
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bobbie e
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Contact a financial advisor and tax accountant. Meanwhile, read books on finance, study and get an idea of the whole picture. |
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fuddlynn
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Read the book series, "Rich Dad Poor Dad" or "The Millionaire Next Door".
Both will give you less conventional wisdom on how to handle wealth. |
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Frank Castle
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Any bank will pay you 5% per year. |
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pcreamer2000
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If I did win enough, I would split in 4 pieces.
Piece #1 - my share - live off income generateed whether interest or other.
Piece # 2 - my wifes share - sam thing as #1
Piece #3 - Investment only - or buy business or franchise.
Piece # 4 - for chariety,family or gimme's.
If small enough the above would be adjsuted.
$1mill or less might be just two pieces...
In either case, I would want at least 5% or better interest and often can do better, balance would be spendable $$$.
HIGH INTEREST annuity or funds is the safest...
But could also do a business that has high chance of success. |
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sweet_thing_kay04
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The bank...... |
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