34 MILLION - What would YOU do with it?

[Minerbarejet]

34 MILLION BUCKS
With this being thrown at someone recently I would be interested to know what others would do with a windfall like that after having taken care of the family. Would you buy a bunch of PEB shares very slowly, donate to charity, drink the lot, start a cult, chuck it in the bank or buy your own island complete with flamingoes.
Just for a bit of speculative fun put your wish list to print as to how you might handle it all, you never know it might come in handy. :)

[Dej]

Repaint my yacht.

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11134415

"...includes $29 million to repair the paint..."

;)

[Dej]

Then buy NTL.

:eek2:

[Minerbarejet]

Repaint my yacht.

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11134415

"...includes $29 million to repair the paint..."

;)Rather reminds me of the British Dreadnought in WW1. The boat I mean.

[Minerbarejet]

Then buy NTL.

:eek2:You wont have enough after painting your boat.

[Minerbarejet]

First fix up the family with appropriate housing so they dont have to struggle.

[Dej]

I would repay my parents for everything they have done for me, then set off and try some of the many business ideas I have that are impossible to start without a certain amount of initial capital. I would then go on to invest in other people like myself who have an idea and no way to fund it, such as family and friends. Then may have a holiday, nice house etc all the usual stuff.

Theres a more serious answer for you miner.

[777]

I would give $100,000 each to 20 share traders and start a competition between them. I would want 50% of the gains made by each one.The losses would be ignored.

Now for the rest, a mere $32,000,000, I would simply give away, somehow, to good causes. Plenty of those.

[Minerbarejet]

I would give $100,000 each to 20 share traders and start a competition between them. I would want 50% of the gains made by each one.The losses would be ignored.

Now for the rest, a mere $32,000,000, I would simply give away, somehow, to good causes. Plenty of those.I agree with the "somehow", it would be an exercise and a half trying to be fair and equitable to all. Would require the Wisdom of Solomon.

[CJ]

I'd divide it into a few pots

1m. Family money (to help out the familly - not too much as they still need to be self sufficient and they are pretty much already there anyway)
5m. safe money (bonds, TD, cash - for basic income)
1m. Play money (for toys/travel)
5m. Learner Money (to increase skills before I take control of it all - if I so choose)
15m. Professional Money ( to look after till I have the skills)
5m. Pay if forward (angel type investment to local businesses)

[percy]

I would buy 40mil Heartland shares.By the time the next dividend is paid I may have figured out what I will do the dividends.
lol.

[Minerbarejet]

Give half to the wife - down to 17mil already:(
2 mil each to 4 kids - down to 9 mil
Fix up 18 cousins at 500000 each
Buy a used Humber 80 on drip feed to drive around in:)

[CJ]

Give half to the wife - down to 17mil already:(You only have to do that if you get a divorce ;)

[Joshuatree]

Give every NZ'er a free therapeutic massage once a week until the money runs out. When the Govt see's the tremendous productivity increase and stress levels down and well being up, id accept a voucher for a double header black doris plum cream fraiche kapiti ice-cream to lick and dream for free.

[Minerbarejet]

Give every NZ'er a free therapeutic massage once a week until the money runs out. When the Govt see's the tremendous productivity increase and stress levels down and well being up, id accept a voucher for a double header black doris plum cream fraiche kapiti ice-cream to lick and dream for free.
Sounds great - thats some ice cream

[Minerbarejet]

By the look of PEB this morning a few mill chucked there wouldnt go amiss

[peat]

isn't this the thread where you say you'd spend half of it on coke and hookers and waste the rest?

after buying a house car bach etc, I'd put half of the remainder in fixed terms or Kiwibonds and drip the rest into equities and perhaps a bit of property. You know, a balanced portfolio ! Maybe 1 mill hi risk play money for fun eg forex and speculative equities. So yeh just more of the same really.

[CJ]

isn't this the thread where you say you'd spend half of it on coke and hookers and waste the rest? No doubt that is why Minerbarejet is expecting to lose half to his wife after she finds him in bed with 5 crack whores, a midget and a farm animal.

[Minerbarejet]

Pass. Incomprehensible subject matter.:)

[Minerbarejet]

With 34 Mil, I'd buy back the ST "Major" nickname and return it to "Miner" :D
With 34 mill I'd buy ST:)
Thanks anyway - funny how things get out of control. Should have made it Mynah instead.
Or Birdynumnums
:)

[Fred114]

I think that the size of lotto payouts are simply getting too large. Such an excessive amount for an individual to receive in a single payout is irresponsible. What advice would be available to an individual is this position? Which adviser would you turn to? Lawyer, financial, friend, accountant? How could you find experience from others that would be credible? Everyone would want to offer advice...

Honestly, I have everything I need. Getting to that level slowly would be far easier to make sense of than receiving it at once. Who would you trust for advice in such an extreme situation?

In fact, I would expect that $34mill would not be an unusual amount for some higher salaried public sector workers. Say they get to salary of $350K when you're fifty. I happen to know one of the deputy secretaries for justice, who came to the job as a solicitor from the private sector law firm as a partner on at least $500K. He took a paycut for the job. Charles Chavuel from the labour party was another. By then you might have amassed a couple of Million in Funds under active management (FUM), that doesn't include the family home. At the rate of 20% for 10 years, those funds would reach around $7mill compounding, a contribution of savings and investment returns. A further ten years of savings now at age 70, they would be at $54mill, but probably difficult to get that rate at that age. Anyhooo, $34mill would not be out of the ordinary for some people at some point in their lives, but they do collect superannuation without penalty.

People with such large wealth, now in the thousands I'm guessing, would have a perspective that we hear very little about. In fact, such a perspective is very difficult to access, unless you win lotto. Why is wealth so absent from discussion, and yet the news media obsess themselves with inequality? They just can't bring themselves to admit that such wealth really does ordinarily exist in NZ, least that disturb their closeted debate of political convenience.

[Minerbarejet]

We can all dream about winning all that but when it comes to the nitty gritty who do you trust. Probably the Lotteries Commission would have the best independent advice but it would still be your best judgement that would prevail.Agree the prizes are getting a bit high, 5 to 10 to mill is enough for anybody- and they should pay out more prizes. Plus they should have a prize for getting all the numbers but all on different lines on 1 ticket - you might be surprised how often that doesnt happen.
Previous lotto winners would probably have some pretty meaningful input if they could be found.

[Dej]

A guy at my work won lotto a couple years ago, he just continued working, paid off the mortgage and invested some money in the company so he now has an invested interest in his work.

Just sits on the rest, told me if I ever came up with a reasonable business idea he would invest in me.

Like I said before, I would do something similar.

EDIT: just for the record, he didnt earn anything near 34 million.

[Fred114]

The mediterranean appeals to me too. I looked at buying a house in Lampadusa when it was on the news, an island off the coast of Italy. The picture from google maps was mainly barren, with many old plastered apartments and the ground scraped raw at the coast. The water was a different picture. Amazing blue colour with one bay full of luxury yachts. Seems that's a better way to go....

[CJ]

EDIT: just for the record, he didnt earn anything near 34 million.Sounds like he's done the sensible thing depending on how much he won. Anything less than $10m and you will probably blow it all once you buy the mansion, flash car, holidays, give some to the leeches and no job to support the costs.

[stanace]

What would you do if you won Lotto, she asked as he walked in the door.?
I'd give you half and then leave you, He said.
Well I just won $24 so here is $12, now F** off, she said.!

[777]

By the look of PEB this morning a few mill chucked there wouldnt go amiss

Think of the result if you had been able to action this.

[Joshuatree]

I would buy 40mil Heartland shares.By the time the next dividend is paid I may have figured out what I will do the dividends.
lol.

Heartland re 75c then $1.33 now plus divs, looks like a good plan there percy.:)

[Bjauck]

The mediterranean appeals to me too. I looked at buying a house in Lampadusa when it was on the news, an island off the coast of Italy. The picture from google maps was mainly barren, with many old plastered apartments and the ground scraped raw at the coast. The water was a different picture. Amazing blue colour with one bay full of luxury yachts. Seems that's a better way to go....I have been to some Mediterranean isles. IMHO Waiheke Island is (at least) their equal (Jeremy Clarkson notwithstanding!).

[bullfrog]

Fun to look back in time, $38m is just loose change today, $50m, wow. Saw PEB got a mention back in 2013, some things never change. So, what’s the list in a Covid world. I’m thinking a huge estate, plenty of hunting, fishing, bit of a farm, a bunker.

[JBmurc]

34 MILLION BUCKS
With this being thrown at someone recently I would be interested to know what others would do with a windfall like that after having taken care of the family. Would you buy a bunch of PEB shares very slowly, donate to charity, drink the lot, start a cult, chuck it in the bank or buy your own island complete with flamingoes.
Just for a bit of speculative fun put your wish list to print as to how you might handle it all, you never know it might come in handy. :)

well 50mill this week ... got my lucky numbers picked ... 50mill I would certainly throw down $50k into the prize pool for the 2021 ASX Comp ...
put the bulk into the Company/Commercial property etc continue to invest/trade(donate a good portion of the profits to Charity each year etc) (as I enjoy keeping busy) join the Hills Golf course ... buy a decent block of lifestyle land here in Central Otago and build the nice family home ... spend heaps on our families health well & being
Help set-up my skipper in his own F.V etc ...

Mass Money gives you powers and time to do all that you can to improve ones life and others around you

[JBmurc]

We can all dream about winning all that but when it comes to the nitty gritty who do you trust. Probably the Lotteries Commission would have the best independent advice but it would still be your best judgement that would prevail.Agree the prizes are getting a bit high, 5 to 10 to mill is enough for anybody- and they should pay out more prizes. Plus they should have a prize for getting all the numbers but all on different lines on 1 ticket - you might be surprised how often that doesnt happen.
Previous lotto winners would probably have some pretty meaningful input if they could be found.

I think the vast bulk of ST members would have smarts to invest for passive income (Blue chip stocks with well covered Divi) .... I'm doing that with a much smaller amount of capital ...I don't get the Celebs that make $150mill+ etc and only 10-20yrs later end up bankrupt ... Dumbasses

I

[Jay]

I think the vast bulk of ST members would have smarts to invest for passive income (Blue chip stocks with well covered Divi) .... I'm doing that with a much smaller amount of capital ...I don't get the Celebs that make $150mill+ etc and only 10-20yrs later end up bankrupt ... Dumbasses

I
Exactly - set up enough to to provide an income for life (rest of) so it does not matter what happens to the rest to a degree

[Snow Leopard]

Well I 'won' one Division 7 prize - 4 bonus Lotto lines - so it is back to the day job until [at least] Wednesday :mellow:

[Beagle]

Good to see $50m was split 10 ways. Some comment I read in the media suggested this was a good outcome because it would see the proceeds distributed widely in the community.

I like playing the odds and last time I looked the payback ratio on lotto was 55 cents for each dollar invested so to me its a mug's game for those who are unable to create their own comfortably well off lifestyle.

I can't help wonder how much damage is done in the community with large prize pools like this ? How many people buy up heaps of tickets they can't really afford in the hope of getting themselves and their families out of a bleak financial situation and just exacerbate their problems in the process ?
I sometimes wonder how much misery lotto is responsible for ?
That said my best mate's wife won $33,000 last year and they really badly needed a replacement car and the win came at a very good time for them.

[stoploss]

Beagle , the pokies take more money , it’s a real disgrace .