s/o $100M net

ridesbuttons

How much would you keep for personal use?

I figure $5M would allow my family to carry on for the rest of my natural life without changing our lifestyle with the exception of DH and I having to work full time.

The rest I would spread around to family, friends and charity.

mexicolombiana

Wow.  I would keep WAY more than $5m.  $5m wouldn't get you anywhere, you couldn't live off that money for too long and you still need to provide for your kids and their educations.  

I would start by giving away a certain amount to family (honestly, probably not friends) and then set up trusts for my kids, and for the rest of the $.  I would then pick an amount for charity, and invest the rest.  

And I would change my lifestyle.  Dramatically.  We would travel and we would quit our jobs, I would volunteer my time and do as much as possible with my kids all day, this in and of itself would be a big change.  Screw my life, I would change it all and do everything we have ever dreamed of doing! 

Brit's Luna154

mexicolombiana:

Wow.  I would keep WAY more than $5m.  $5m wouldn't get you anywhere, you couldn't live off that money for too long and you still need to provide for your kids and their educations.  

I would start by giving away a certain amount to family (honestly, probably not friends) and then set up trusts for my kids, and for the rest of the $.  I would then pick an amount for charity, and invest the rest.  

And I would change my lifestyle.  Dramatically.  We would travel and we would quit our jobs, I would volunteer my time and do as much as possible with my kids all day, this in and of itself would be a big change.  Screw my life, I would change it all and do everything we have ever dreamed of doing! 

+1

shakinros

mexicolombiana:

Wow. nbsp;I would keep WAY more than 5m. nbsp;5m wouldn't get you anywhere, younbsp;couldn'tnbsp;live off that money for too long and you still need to provide for your kids and their educations. nbsp;I would start by giving away a certain amount to family honestly, probably not friends and then set up trusts for my kids, and for the rest of the . nbsp;I would then pick an amount for charity, and invest the rest. nbsp;And I would change my lifestyle. nbsp;Dramatically. nbsp;We would travel and we would quit our jobs, I would volunteer my time and do as much as possible with my kids all day, this in and of itself would be a big change. nbsp;Screw my life, I would change it all and do everything we have ever dreamed of doing!nbsp;

This! I'm guessing about 20mil would end up going to charity out of the original 100. Not all at once. Then if we were able to get some incomegenerating investments, we'd have more later to give away to charities.

We would also quit our jobs and travel like crazy.

LoCarb

I would keep atleast 1/2....Like PP mentioned, the kids education and futures would be set up first. Then I would live a life of luxury with lots of travel.  The remaining funds will be used towards family, some friends and charities.

kacelle

I'd turn in $1M to the nonprofit I work for along with my letter of resignation.  Haha.  I'd love to do extensive traveling and to have the money to adopt several children.

daisy662

Wow - you think $5 million would be enough for you to live on for the rest of your life? You must not want for much!

I would probably keep at minimum half and the rest would go to family and friends and charity. I would for sure quit my job. I would take the first couple of years to travel and do cool stuff and once things calmed down, I would do volunteer work.

ridesbuttons

Assuming it is the same as a lottery win of $5M, yes.  I'm 43; I figure I've got 35 years of high life in me then some quieter years after if I'm lucky.  Investing the money will give a decent return, though you could easily live on the principal with room to spare, IMO.

$150000 net per year is more than enough to live the life I want.  And that would still leave plenty behind when I die.

Traveling for a while would be around kids' school schedules.  I am not going to start to home schooling just to indulge that.  And for me, I wouldn't go places to stay at the Ritz every time.  I'd rather stay at more authentic places when I go somewhere.  Give me a family run resort or a ma and pa B&B.  5 Stars ends up being the same thing with different wallpaper.  Find me a small hotel on the Left Bank and give me some pocket money to buy wine on a restaurant terrace when the mood strikes.

I want to walk the Great Wall, not pay a king's ransom to stay in a fancy hotel near it.  I'd rather book passage on a German freighter and sail around South America than be on a Disney Cruise (shudder).

I know for a fact that our next home will be a smaller home: we already live in a house that is more than we need.  We have a cottage on a lake, we have a condo in Florida.  I do not want to own more property.  Might we rent a villa in Tuscany for a summer?  Sure. 

Shoot me if I ever aspire to a Kardashian type lifestyle.  No thank you.

There's a $50M lottery this week in Canada -- tax free.  I'll buy a ticket but it is ruin your life kind of money.  I've daydreamed about it plenty (justifying the cost of the ticket as entertainment).  I'll take my $5M and live very nicely.

   

jaimie68005

Brit's Luna154:

mexicolombiana:

Wow.  I would keep WAY more than $5m.  $5m wouldn't get you anywhere, you couldn't live off that money for too long and you still need to provide for your kids and their educations.  

I would start by giving away a certain amount to family (honestly, probably not friends) and then set up trusts for my kids, and for the rest of the $.  I would then pick an amount for charity, and invest the rest.  

And I would change my lifestyle.  Dramatically.  We would travel and we would quit our jobs, I would volunteer my time and do as much as possible with my kids all day, this in and of itself would be a big change.  Screw my life, I would change it all and do everything we have ever dreamed of doing! 

+1

Definitely all of this! I would not give to friends, I would set up college and other savings for all of my kids. Definitely invest a good amount. Buy a house, land, the fun stuff, and not go crazy living above our means just to live comfortably and be able to enjoy the rest of our lives with our kids and grandkids!

jaimie68005

bump

mexicolombiana

ridesbuttons:

Assuming it is the same as a lottery win of $5M, yes.  I'm 43; I figure I've got 35 years of high life in me then some quieter years after if I'm lucky.  Investing the money will give a decent return, though you could easily live on the principal with room to spare, IMO.

$150000 net per year is more than enough to live the life I want.  And that would still leave plenty behind when I die.

Traveling for a while would be around kids' school schedules.  I am not going to start to home schooling just to indulge that.  And for me, I wouldn't go places to stay at the Ritz every time.  I'd rather stay at more authentic places when I go somewhere.  Give me a family run resort or a ma and pa B&B.  5 Stars ends up being the same thing with different wallpaper.  Find me a small hotel on the Left Bank and give me some pocket money to buy wine on a restaurant terrace when the mood strikes.

I want to walk the Great Wall, not pay a king's ransom to stay in a fancy hotel near it.  I'd rather book passage on a German freighter and sail around South America than be on a Disney Cruise (shudder).

I know for a fact that our next home will be a smaller home: we already live in a house that is more than we need.  We have a cottage on a lake, we have a condo in Florida.  I do not want to own more property.  Might we rent a villa in Tuscany for a summer?  Sure. 

Shoot me if I ever aspire to a Kardashian type lifestyle.  No thank you.

There's a $50M lottery this week in Canada -- tax free.  I'll buy a ticket but it is ruin your life kind of money.  I've daydreamed about it plenty (justifying the cost of the ticket as entertainment).  I'll take my $5M and live very nicely.

   

Sorry tried to respond and it didn't work and then tried to delete and it didn't work.  Gah.  I give up.