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Blogs > redmustang91 > Wild Red Mustang thoughts! |
So if I won five million....
So if I won five million.... Not likely, but if I won five million, how to keep it intact... First thing is payoff all debt. Credit cards, house, cars, etc. Next set aside the money for taxes, and get with CPA to see if legal ways to shelter the income against taxes due. Next not buy expensive house, car, jewelry or anything else. But allow $50,000 for wasteful toys and fun.... Not want to be a saint after all. Then a diversified portfolio of stocks, fund retirement accounts fully and do nothing else crazy for a year or more.... |
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Not me. Let the feds take their initial chunk, cuz they will. Leave everything, but the pup, behind. Buy a sail boat, ocean worthy, and sail the world. Wet
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Big dreams sadly become big failures. Usually. Better not to try anything too radical and just enjoy life with some minor additions. The sad truth is most blow the money quickly and have nothing within a few years...
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