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Vancouver Off-Topic / Current Events The off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.

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Old 07-19-2015, 11:50 AM   #76
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Invest principal(commercial property mostly) and just live off interest after you've bought the staple stuff you want(house, cars, etc). 50 million is no joke and should keep a few generations of ones family set up forever.
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Old 07-19-2015, 11:56 AM   #77
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Am I the only one that thinks Maximillions should be like maxi 3 millions or something? And have less Maximillions? and keep the jackpot capped at 50 Million?

I rather have more Winners winning less money, then 1 Big winner winning $55 Million.
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Old 07-19-2015, 12:33 PM   #78
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^yeah I would like that too! Having more million dollar prizes instead of having just won huge payout!
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Old 07-19-2015, 01:33 PM   #79
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I agree. The more MaxMillions winners, the better.

RS group buy for LottoMax?
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Old 07-19-2015, 02:00 PM   #80
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Definitely need more winners. Even a million is not small potatoes. A life changer for most people I'm sure.
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Old 07-19-2015, 03:56 PM   #81
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Down payment on a Yaletown condo?
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Old 07-19-2015, 05:26 PM   #82
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Even a million would be nice. Buy a $400,000 townhouse in coquitlam or richmond for living. Use the rest for another condo or two and just collect rent, while getting education on the side.
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Old 07-19-2015, 09:45 PM   #83
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I would never tell a soul. No one unless I was married and then only my wife.
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Old 07-19-2015, 10:04 PM   #84
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if i won a million i wouldn't tell anyone. i would just buy a couple of non-flashy car's and call it a day.

now if i won 50 million? i'd cut off all ties with everyone except my immediate family. buy myself an entire warehouse complex and keep one unit for myself to store my car's in and live out of.
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Old 07-19-2015, 10:09 PM   #85
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The provincial one BC 649 have million $ prices.

Lotto Max is run across the country.. so ever province's lottery corporation chip into the actuary pool.

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^yeah I would like that too! Having more million dollar prizes instead of having just won huge payout!
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Old 07-19-2015, 11:18 PM   #86
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If I ever disappear, it will probably be because I somehow acquired a mass amount of money. I'd donate all my stuff, give my parents a few million and tell them not to tell anyone so people don't bother them and then I'd travel for the rest of my life.

So if I drop off RS forever one day, that will be what happened. Or someone killed me, I guess.

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Old 07-19-2015, 11:29 PM   #87
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If I won, id invest half of it

With the rest id buy all the regulars/oldies of rs a car, and raffle off a car at every spring/summer meet from then on so that anyone from rs has a shot

make sure any old friends are secured with at least a home&car for their families

then donate most of the rest to local causes and some of the remaining to international causes

and that's that

The rest of you sound like greedy fucks

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Old 07-20-2015, 01:18 AM   #88
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I am not sure I want to worry about my investments if I win 50m. With that kind of assets, you hire a team of smartasses to work for you. I'd basically copy what my parents do:

Spend 500g on smart accountants/lawyers to establish a bullet-proof structure so taxman doesn't get much from me and it would ensure my offsprings getting a good life (trust fund kids) or the lucky charity like my parent's case

2nd, put 20m in a quality property in major city at a conservative rate of 6% cap, hire a good management, and it should still net me 1m per year at least. So lavish lifestyle is more or less guaranteed for perpetuity.

Then another 20m in a good asset management team (it should get in many elite wealth management firm as most seems to start a 1~3M) which should give a nice 5~15% return annually, just reinvest the return into the portfolio so it would grow nicely into the future.

Finally 10m to buy whatever my mind feels like.

TL;DR: When you have that much money, you simply don't work. You hire smart guys to do it for you.
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Old 07-20-2015, 02:02 AM   #89
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I am not sure I want to worry about my investments if I win 50m. With that kind of assets, you hire a team of smartasses to work for you. I'd basically copy what my parents do:

Spend 500g on smart accountants/lawyers to establish a bullet-proof structure so taxman doesn't get much from me and it would ensure my offsprings getting a good life (trust fund kids) or the lucky charity like my parent's case

2nd, put 20m in a quality property in major city at a conservative rate of 6% cap, hire a good management, and it should still net me 1m per year at least. So lavish lifestyle is more or less guaranteed for perpetuity.

Then another 20m in a good asset management team (it should get in many elite wealth management firm as most seems to start a 1~3M) which should give a nice 5~15% return annually, just reinvest the return into the portfolio so it would grow nicely into the future.

Finally 10m to buy whatever my mind feels like.

TL;DR: When you have that much money, you simply don't work. You hire smart guys to do it for you.
And that's how you go bankrupt.

Just put it all in the bank and live off the interest.
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Old 07-20-2015, 12:36 PM   #90
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And that's how you go bankrupt.

Just put it all in the bank and live off the interest.
Inflation will eat your fortune alive if you keep it in the banks

Let's say you put a gic at 2% return in perpetuity. At BoC long term target inflation of 2%, it means you can't spend a dime if keeping the same purchasing power of 50m today in the future is your goal.
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Old 07-20-2015, 12:37 PM   #91
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If I won 50M I'd buy Revscene and free avatar upgrades for all!!!
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Old 07-20-2015, 12:50 PM   #92
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If I won 50M I'd buy Revscene and free avatar upgrades for all!!!
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And that's how you go bankrupt.


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Old 07-20-2015, 08:11 PM   #93
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And that's how you go bankrupt.

Just put it all in the bank and live off the interest.
Yes, idk why everyones talking about investing.
There is enuff to last multi generations. Why take any chances, regardless how small the risk is.
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Old 07-20-2015, 08:38 PM   #94
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Just buy property and collect rent. If all else fails, well...at least you still have a roof over your head
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Old 07-20-2015, 08:57 PM   #95
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If I won I'd stick everything in a GIC for a good 2 year term which would give me enough time to think about how I would spend the winnings.
I think too many lottery winners make rash decisions without thinking about the implications which leads to many problems in the short term.
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Old 07-20-2015, 11:05 PM   #96
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If I won I'd stick everything in a GIC for a good 2 year term which would give me enough time to think about how I would spend the winnings.
I think too many lottery winners make rash decisions without thinking about the implications which leads to many problems in the short term.
At least park it in USD-based GIC. Our loonie is on the way down...
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Old 07-21-2015, 04:04 PM   #97
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On a random note, cut off time to buy lottery is now at 7:30pm
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Old 07-21-2015, 06:05 PM   #98
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But you are suppose to sign your ticket when you get it.
Sign it under a fake name, then when you win change your name, collect, and change it back.

Or just do this for the photo:








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Inflation will eat your fortune alive if you keep it in the banks

Let's say you put a gic at 2% return in perpetuity. At BoC long term target inflation of 2%, it means you can't spend a dime if keeping the same purchasing power of 50m today in the future is your goal.
If you have $50M do you think you're still going to get the same rate?
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Old 07-21-2015, 06:13 PM   #99
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Sign it under a fake name, then when you win change your name, collect, and change it back.

Or just do this for the photo:










If you have $50M do you think you're still going to get the same rate?
If you put a large some of money you will get a better rate than someone putting in 10K in a GIC.
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Old 07-21-2015, 06:59 PM   #100
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or just use private banking.. or proper asset management.

Even though the amount is tax free, how you use it is not.. best hire a tax lawyer to create a proper structure to reduce exposure (eg trust) to start, if you are optimizing for long term benefit. It seems the caricature of mass media portrays lottery owners lack discipline in managing their finances.

Let say it takes a year to wind up all the affairs or commitment of your current life. If you leave the principle in any investment account.. you can easily pay off the amount needed for the wind up (mortgages / loans etc) just on the first year's interest.

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If you put a large some of money you will get a better rate than someone putting in 10K in a GIC.

Last edited by godwin; 07-21-2015 at 07:06 PM.
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