58 Million Dollars

battle on

battle on

I am working off the coast of Malaysia right now and have been reading how 4workers won 58 million smackaroos :eek:. It got me wondering what we would all do with that sort of money, which investing direction would we take and what else would you do with that much money.

14.5million each would provide solutions to many peoples problems thats for sure, Geoff could cut down on his Subway hours, Dazzling could tell the bank to well and truly get S###### and Sparky's current financial dilemma would be instantly be solved.

Would people buy more property or shares in the current market or just stick it in a 8% online account until things settle? Who would venture into developing.

I would certainly leave the job I am doing now to spend more time at home with family and the obvious new car and boat would be a must but what to do with the rest.

What would you do with all that cash? :confused:

Ps no I wasn't one of the lucky winners :(
 
I think I could turn 14.8 million into 100 million in about 15 - 20 years of resi investing gearing for a cashflow neutral portfolio :)
 
Rolf Latham said:
I reckon I could make a small fortune out of that 14 mill :)
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LOL....Me too.

I could turm that large fortune into a small fortune in a few weeks if I tried, but more probably over a year or 2. ***EDIT LOL...you beat me to it Boomtown****


$50mil....I'd probably give half of it away to family/close friends (I got a big family)

$14mil...I'd probably give $4mil away, throw away about a $mil on toys and travel. Then find the safest inv I can that pays 7%-10%..live on half the interest and re-invest the other half.
 
my old next door neighbour won 5 million, and had nothing within 3 years, it actually made his life worse, split with his wife and now still rents. I wonder how many people out there who have won lotto, and have gone on and done something usefull with the money.
 
seank said:
my old next door neighbour won 5 million, and had nothing within 3 years, it actually made his life worse, split with his wife and now still rents. I wonder how many people out there who have won lotto, and have gone on and done something usefull with the money.
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Not an uncommon situation. There is a saying that if you want a million dollars, you better hurry up and become a millionaire first.

Mindset has everything to do with the type of custodians we will be of our money and the wealth we create
 
$14 mill is not that much ,is it ?!

as Shady said I have a big family too, and I always make a "to do list " for myself when I buy lotto .

I will buy a house for each one of my brothers and sisteres ( 7 of us !!) ,but under a joint name ,me and them !!:D

if I can i'll buy a couple of business to run in the family

give away some to charity ,as my Mum says "the more you give the more you receive"

even I know I don't win ,but it's nice to dream about it:)
 
Just put it in the bank and you earn $1,200,000 per year - $23,000 per week. Blow a couple of million on family and then just relax. Why risk that by speculating?

Mike.
 
i'd pay my mortgage off.

then pay my parents mortgage off.

then buy a whole heap of A1 properties.

then take about a year off and buy a small farmhouse in southern france, renovate it and grow olives.

and then there's reality....:(
 
Mike&Wendy said:
Just put it in the bank and you earn $1,200,000 per year - $23,000 per week. Blow a couple of million on family and then just relax. Why risk that by speculating?

Mike.
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Federally insured up to the tune of 100k or so I would call that speculation of the highest order :)
 
I'd diversify to every corner of the planet and in every asset class I could dream up.

Home bases in at least three different countries as well.

Diversification is a wonderful thing, I can't afford it at the moment but plan on having it.
 
Actually there was a sparky who struck it rich in QLD recently, was in the local fish n chip wrapping a few weeks ago.

Have the clipping filed somewhere, bought a mine with a chunk of OPM and sold it for a bigger markup than you find at Woolies was the cause of a large part of the dosh... Gosh my memory... But I think the dollars were 100M+ or so.
 
I find this whole thread quite amusing really....in a nice dreamy kind of way. It's good to have fantasies about untold wealth, but I'm convinced the "struggle and sacrifice" necessarily required to actually turn that fantasy into reality might just change your end result.

In the past, having worked in some less than average countries and conditions.....think people existing in the baking desert in a cave.....I can confirm right now that what you all have accumulated currently (whatever your wealth level) in 'middle of the road Ozzie surburbia' is way beyond their wildest dreams.....and yet you haven't changed ??? I'm sure that's because ;

1. You don't use that frame of reference to compare your current wealth levels to.
2. You've seen mega-wealthy, via electronic media outlets behaving in a manner that you cannot afford as yet.

The ol' "whatever I want, whenever I want" goal which I don't get really.


Having attained a tad more wealth than a good proportion of people, and having associated with a few chaps and chapesses in the same boat, I suppose I'm in a position to say that what you've listed in your dream wishlist isn't actually what happens when you "arrive" at numbers to allow you to do that.

I suppose the next logical question to ask is why not ??

Cos I reckon you get caught up in the mechanism of wealth, with strong bonds and ties.....be they contractual or habitual.....and to tell you the honest truth, quite a bit of control and power is associated with the whole circus. All of those nasty little human traits that we all have but never admit to.

It's very difficult to suddenly reject a life of modest, frugal, saving, budgeting and investing and suddenly go "That's enough, I'm going to cash up, write a whopping great cheque to the ATO for (shudder to think) millions, go put my feet up in the Seychelles and lie on the beach for the next 40 years."

Frankly, I do not know or have even read about one person who has done that. One seems to carry on accumulating and leading a half @rsed normal domestic life.....it doesn't change all that much.

When you are at station # 3, I can imagine looking up at station # 6 must look so inviting and sexy.....where all of life's troubles melt away and life is bliss. To the people back at station # 1, where you are right now seems like heaven on a stick. Of course, to people currently at station # 8, looking back at station # 6 seems to be very average indeed. Where's the right level ??

How much is enough ?? That's the biggy. I reckon, just by human nature and our primeval urge to better ourselves, I reckon nirvana is about 3 stations above where we currently sit. She's a moving target, cos humans do that.

Personally, I envy the folk who have been able to answer this big question honestly, and even moreso those folks whose answer is a normal, reasonable or modest number.

I'm still coming to grips with it....but believe I have reached my plateau....for a while anyway, so it's been a revelation to figure out when the goal has been achieved. It's not easy.

Anyway, that's what I've observed so far on the journey. In 5 or so years time, I'll probably think what I just wrote then was a complete crock....but it'll have to do me for now.
 
Dazzling said:
How much is enough ?? That's the biggy.
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I agree.

For me it's been the trickiest question to answer.

It's especially harder when you're trying to 'budget' for a future wife and 'x' number of kids that aren't even in the picture yet!

I think I know how much is enough for me personally, but then how much is enough when I have a few dependants?

I'm working with a few rough numbers at the moment as my end point.

(PS: I haven't read this thread, so I have no I idea what it's about, just Dazzling's post)
 
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I think your absolutly spot on Dazzling when is enough enough!! I remember my younger dreams and thought well if I could just own my home and have a good job things would be hunky dory but as the years go by it just is'nt enough.
Compared to you I am maybe at station 2 where I could sell up my IP's pay off the PPOR and have a bit of spare cash but that is not even an option anymore. I want more out of life and hence am out in the middle of the ocean building these damn oil platforms and making more sacrifices than I probably should be family wise.

Some of the answers thus far are interesting, some obviously very tongue in cheek but I think ultimately if 14 million was dumped in someones lap witout any of the hard yards being done most people would p### it up againts the wall.

But we all can dream cant we.

Ya reckon ?? I've dug myself a pretty deep hole.....
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Dont worry mate you can have 2 shares of the pie :)
 
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