Can I have $1?
You REALLY need to read this, most famous advice I know of on the subject:
https://www.reddit.com/r/AskReddit/comments/24vo34/comment/chb38xf/
Thanks for sharing this, ended up reading the whole thing wow lol. Fingers crossed that someday the advice can be used by someone (re: hopefully/not hopefully me) who’s read this…
I always read that when it’s linked. It’s absolutely genius and really helpful advice I’ll never need
I would look into the people who win the lotto and make sure you learn from their mistakes
Hi Mari
Congratulations on graduating soon! I’m also sorry for your loss I know loosing my grand father was tough and I can only imagine the wedge his will has created between you and your family.
We’re not well equipped to make decisions of that magnitude at 18 and many of us don’t develop the skills to make them later in life 😅
How you really doing?
DMs are always open if you have any questions you’d rather bounce of a stranger :)
I’m okay. A little stressed. Everyone has an idea of what I should do with it all and they’re all different ideas. So just trying to sift through all that and decide what I want. But really more than anything just ready to graduate
In the Star Trek Deep Space Nine episode “In the pale moonlight”, do you think Captain Sisko was justified in attacking Garak for his role in the assassination of the Romulan Ambassador, considering Sisko not only new the lengths Garak would go from his time in the obsidian order and the fact Sisko told Garak to “just get it done”, even though it was the turning point to defeating the dominion and saving the alpha quadrant?
Don’t forget to support FOSS software you’re using, including lemmy & your home instance
What’s your favourite dinosaur?
Raptors
Oooooh fiesty
So how did you get it? Hard work or a lot of luck? Inheritance, maybe?
Also the obligatory “can you spare some?”
I’m very sorry to have to tell you you’ll be getting a lot of that once people know. Keep it to yourself as much as possible
Ah, also: what do you think about taxes? Do you feel you should pay less now that you have more, or do you feel you should at least pay your fair share?
Just to be honest here: I think taxes should go up and up with higher income / total value, up to 100% income or just the value of a person minus the max value we set that a person should be allowed to have. I don’t think billionaires should be allowed to exist, there is no reasonable explanation you can give me that can honestly say " yeah, billionaires are fine" while at the same time we have thousands of homeless that cantt have a home even with two jobs
Inheritance.
And from what I understand even with high taxes I’ll still have a lot of money so it doesn’t really matter to me what they are
Lucky you, happy for ya
the normal answer
Any immediate plans?
Also, chuck us a couple of quid?
Well this summer vacationing pretty hard. But after that who knows
How do you think it will impact you mentally? Knowing myself I think I’d really spoil myself (with everything) and would never recover. If I were in your position I’d pay for a psychologist/coach ASAP to keep me on track.
I’m hoping my ego doesn’t get too big or my laziness any worse than it already is. But maybe I’ll be worse than I think
Vacationing anywhere or anyhow in particular?
Gonna do Hawaii for sure because I’ve never been. But no hard plans beyond that
Enjoy!
Hello sir or madame I have a crypto project you might be interested in!
Get ready for alot of that.
How much do you plan to use to help people? You know, the homeless, hungry, uninsured, debt-hell suffering people who just want to live their fucking lives but can’t because we live in a capitalist hell?
I honestly don’t have a plan. Of course I’d love to say “I’m only taking what I need to live and giving the rest to charity” but until I do that it’s not true and I’ve just been trying to finish school and haven’t put near as much planning into this as I probably should have
I’ve thought about this quite a bit and should I come into a windfall of money I would put most of the money in a trust that only pays me a set amount for living and maybe other distributions for family or charity. But I have yet to have this problem so it’s all a head experiment for me.
If you’re open for suggestions: Buy several flats that you can rent out at maintenance cost to people that need it (+ a small premium so that you have an income to live off). You can target students or other people that need a temporary home.
If you are a dollar multi-millionaire, you should be able to afford maybe 10-20 small flats, if you take an annual premium of 5k per year that gives you an income of 50-100k, and likely still lets you rent out cheap. If you prefer to not spend all your time managing rental properties, and to have normal job instead, you can hire someone to manage the rentals and bake the price of that into maintenance costs, while you live off your ordinary income.
Alternatively, I’ve heard of a “rent-to-own” type deal, where people pay maintenance cost + some sum each month, and they own the apartment once the total payment equals the price of the apartment (obviously, percentage ownership increases gradually throughout the down-payment time). It’s a deal designed to help people that struggle to get a loan into the housing market.
To summarise: With enough starting capital, you can essentially start a self sustaining non-profit that rents out flats to people at maintenance cost. If you have enough flats and take a small premium from each flat, you can even make enough money from that to buy more and help more people. By giving people cheap and secure housing you can change lives.
If you are a dollar multi-millionaire, you should be able to afford maybe 10-20 small flats
Hahahaha~hahaha sendhelp~
Edit: I kept reading. It’s 25mil, so that’s actually a reasonable estimate.
I made the quick estimate that you can get a small flat (i.e. one- or two-rooms) for something like 300k-600k (completely depending on location of course). 10-20 of those should then cost somewhere from 3-12 million USD. I would say that assuming “multi-millionaire” puts you somewhere in that range is reasonable.
English isn’t my first language though, maybe “flat” is the wrong word when I’m thinking of a one-room or two-room apartment that’s about 30 m^2 (325 sq. ft.)? Is that what you would call a studio apartment?
What’s your opinion on Marlene Engelhorn’s handling of her inheritance? I don’t mean this as a suggestion or condescending, I am merely interested in what your thoughts about her are as someone in a similar position.
Good luck! I’ve heard one should get a good financial planner and shit for that.
Or just chuck a large amount into some savings thing regardless. I’ve known of those even with financial planners to have it all go horribly wrong.
What has been the overall reaction here when you mention that?
When you say here do you mean on lemmy? Or just like in my life?
Both.
Well on here it’s a pretty reasonable “we hate you because you’re now a 1% a-hole” which fair enough because it is ridiculous. But followed pretty swiftly by “now that I got that out of my system, here’s some advice and some things to look out for and hope you don’t become the worst kind of person”. So I’d say a pretty reasonable group of lemmy-ers.
Personally my friends think that means they’re rich too. Which I get that lunch and drinks are on me eternally but I’m not just buying everyone a house and cars. On the other end most of my family is just plain upset because no one else got a really significant inheritance, so they are all understandably pissed off. I’m really not sure what I’m doing with it all yet but I hope they don’t just straight up cut off contact with me because of it.
What’s stopping you from using your wealth to make an instance for wealthy people (which I might become a part of)?
How much cheese do you intend to buy? Will you use very expensive cheese for grilled cheese? If you had to pick three cheeses to invest in, which ones would you go for? Sorry for all the financial questions.
I’m a cheese fiend, so if there’s a Cheese shortage in the bendy month you know that was me
