Lotto AU$90,000,000.00 - what to do with it?

[Bundy Bear]

The 90 million super draw is on this Tuesday after the $50 million didn't go off last week.

If anyone did win $90 million outright it would be a tough job trying to figure out what to do with all the money.

You could probably buy a plane for that sort of money, something like a BBJ.

First 2 things I would do with the money is pay off the house loan, and take a first class round the world ticket trying to figure what to do with the rest of the money.

So what would be the first few things you would buy with the money?

 

[notzac]

So what would be the first few things you would buy with the money?

Pay out debts, buy a few properties around the world, set myself up with an obscene travel budget, invest the rest and live off interest.

 

[v8Statesman]

Re: The totally off-topic thread

So what would be the first few things you would buy with the money?

Put it all in an on call savings account at around 3.5% interest. (I'm sure you can do better but I found that one quickly). Then live of the eye popping $61,600 per week. interest it will accrue.

 

[samh004]

Re: The totally off-topic thread

Put it all in an on call savings account at around 3.5% interest. (I'm sure you can do better but I found that one quickly). Then live of the eye popping $61,600 per week. interest it will accrue.

That's exactly what I'd do too.

Seeing as I'm in NZ I'll have to buy my ticket online.

 

[oz_mark]

Re: The totally off-topic thread

Put it all in an on call savings account at around 3.5% interest. (I'm sure you can do better but I found that one quickly). Then live of the eye popping $61,600 per week. interest it will accrue.

Something along these lines, but would spread the investment around a bit.

 

[Alanslegal]

Re: The totally off-topic thread

This Lotto discussion could probably have it's own thread :mrgreen:

I'd give $10M to my parents, $5M to each of my brothers and sisters, leaving me with a cool $60M which I would use to fund my endless days of travelling. I'm sure a budget of $1M per annum would be suffice to travel non-stop

 

[bambbbam2]

Re: The totally off-topic thread

I hope several people win it.. surely 1/3rd of $90m would be enough?

Wasn't it Warren Buffett who said he would leave his kids enough money to get *out of trouble*, but not so much to *get into trouble*?

The winner will have to move overseas.. can you imagine the begging letters etc if the name of the winner became public?

And don't tell me 'NFP' does much.. remember that woman who lived round Crescent Head or near there, and she had A Current Affair chasing her round the local streets and barging into her workplace asking her 'what does it feel like to win?'

I sent NSW Lotteries a very nasty email over that, told them I hope the woman sued them for a packet.

 

[whereishome]

Re: The totally off-topic thread

So what would be the first few things you would buy with the money?

- Put $80 mill in the bank
- Pay out my folks mortgage (without telling them)
- Pay out my sister's mortgage (without telling them)
- Buy my brother-in-law an XK Jag
- Buy an Aston Martin DB9 (to prove to my bro-in-law that the DB9 thrashes the XK )
- Fast track my proposal to my GF (currently on the back burner due to money issues and the stupid processing time for fiance visas)

Nice thread idea! Seriously though, I'd be happy with a division 2 win - I'm not greedy.

 

[simongr]

Tag Heuer Monaco '69, House in Sydney, house in Bath, Apartment in Manhattan and monthly visits to Cyprus to visit the folks as a start (plus the Aston)

 

[Alanslegal]

At the Merc dealer last week and was suggested to go take a quick look at the Mercedes Benz SL65 Black Series. There is only one of them in NSW and five Australia wide, so this car will be a very rare sighting in actual flesh! (The NSW model is already sold though).

Ok, the driveaway price is $750K but that's only 0.008% of your net worth if you win the $90M

 

[djfuzz]

Take off $10M for doing some of the things mentioned above - clearing debts, a few choice properties, cars - and leave at least $1M for a straight up donation to charity.

Put half of it into a 5% interest bearing savings account, and half invested diversely but a bit more aggressively. So you get about $38,500 per week in interest. Again, send $6,000 of that to family and friends, and $2,500 to charity.

That leaves at least $30,000 per week - I'd say you could probably live off that, while nursing the other investments as well.

 

[straitman]

At the Merc dealer last week and was suggested to go take a quick look at the Mercedes Benz SL65 Black Series. There is only one of them in NSW and five Australia wide, so this car will be a very rare sighting in actual flesh! (The NSW model is already sold though).

Ok, the driveaway price is $750K but that's only 0.008% of your net worth if you win the $90M

Alanslegal,

Too many zeros there.

Should be 0.83% :!:

 

[Saab34]

This is what I would do:

Firstly do this at my house:

cant be complete without a..

Dont forget to add a trip to the graveyard to get some classics..

and mabye buy a few islands..

 

[yo yo ma]

............................

 

[straitman]

I got the same answer as Alanslegal...

750,000 / 90,000,000 = 0.0083%

OK.

1 million over 90 million is 1.11% therefore 3/4 of 1 million is 3/4 of 1.11% which equals .83%

.0083 is numerically correct but when expressed as a percentage it become .83%

 

[serfty]

0.83% ≡ 0.0083 ...

 

[yo yo ma]

OK.

1 million over 90 million is 1.11% therefore 3/4 of 1 million is 3/4 of 1.11% which equals .83%

.0083 is numerically correct but when expressed as a percentage it become .83%

hehe... I just realised that and deleted my post... you were too quick!

 

[stuartfaz]

Not gonna lie, part of me would be tempted to go straight to Crown and put it all on Red. Double or nothing before I get too attached

But yeah, not sure what I'd do with that much money, probably go on a spree with part of it and then save the rest.

As an aside...how much do you reckon they'd want for the North Island of NZ?

 

[JohnK]

I wouldn't pay off the mortgages as I am still able to negative gear them.

I would give some of the money to my parents, my brother, buy gifts for some friends and go on a luxury 6 month cruise round the world.

After I return I will use a fair proportion of the money to buy land and build dormitory style apartments for the homeless....

 

[Alanslegal]

Alanslegal,

Too many zeros there.

Should be 0.83% :!:

You're correct [I've edited my post accordingly]