I remember, being a member here at LP since 2005, when it was a big deal when Jackpots crossed the $300 million threshold, and the dream of watching the Jackpots ever reaching $400 million was looked at as dreaming over the top. Just the thought that we are on the brink of a Jackpot potentially reaching $2 BILLION now, is mind blowing. Simply mind blowing. I'm ALL IN. Let's do this!
i knew you no one would hit last night am glad i only played two tickets... i saw people buying 100.00 and up on tickets last night.. the guy at the seven Eleven was so tired saying the machine was constant printing tickets... it will be 2B BY Tuesday..
Quote: Originally posted by benjibanks on Oct 20, 2018
^ I have been checking out Wealth Management firms, many seem to offer legal advice and trust creation services.
Here in California, it is recommended that you create a Trust instead of a Will. I will create a Living Revocable Trust. A Last Will and Testament has to go through Probate. That is expensive and time-consuming.
There is a YouTube video titled, Mrs. Trust and Mrs. Will It compares the two.
Legal advice may include asset protection services. You could become a target of frivolous lawsuits.
I'm shocked nobody won last night! I figure this thing will either go to 2 billion, people will cut back on playing, or people will stop playing in protest. I know that some people have won with the current odds, however, some may think you just can't win anymore and stop playing. Some may think the greed is ridiculous. As for myself, I'm cutting back and only playing 1 line for every 300 hundred million until I win. I figure this thing will at least go to 1.8 billion. So, I am only buying six lines unless I can get in a lottery pool.
Quote: Originally posted by vbrich on Oct 20, 2018
That's my plan.
Set up Family Office let them take care of everything at low risk investments 3-5% max. Have them hire couple of family assistants. So if someone in our family wants Michelin 3 star dinner in Paris with a view next Saturday, they make it happen. Wants a Luxurious Caribbean getaway, done.
I am still young enough at 40s and my wife at early 30s, have another child or two. Adapt few more and share wealth, do charitable stuff.
Ah--- . Stupid amount of money but that would be great life. I look over Family office during the day and have a lot of time off...
A SFO for a low to mid level centimillionaire is an unnecessary waste of money. A MFO is a better option for a small family without a large yearly income stream from a secondary source. Because if you put $500,000,000 million under management, you'd have to shell out at least $5 million every year for a SFO.
There are many boutique firms that do nothing but cater to the whims of the rich 24/7 so that even a MFO would be unnecessary. Have one of them handle things on the personal side of things, then hire a tax lawyer and CFA used to managing high net worth clients to handle things on the financial side, and you're set. Doing it that way wouldn't cost anywhere near $5M/year