Rocky60Aug 19, 2023

What Do You Do With Large Amounts Of Money?

https://lemm.ee/post/4726942

What Do You Do With Large Amounts Of Money? - lemm.ee

Suppose you win 100 million. What do you actually do with it? Banks only guarantee 250,000. Do you have to invest it? Is there anywhere you can just let it sit and draw interest?

Show threadTotallyNotADolphinAug 19, 2023

Here in Norway you are legally required to attend a few sessions with financial advisors(a protected title here, so they will actually be qualified), before you are able to recieve your winnings.

The rough thoughts I have had about being in such a situation is to allocate maybe 10%-20% as “fuck you money” to have fun with, and the rest to follow all their advice with

Show threadCoderKat

That’s a really great idea! More places should do that. Maybe then there’d be a lot fewer people losing all their money within years.

In addition to major prize winners, it should also apply to people who have just started earning a massive income. Eg, professional athletes.

Aug 19, 2023 at 3:12pmWeb
Show threadZapBeebz_Aug 19, 2023
FWIW, the NFL does actually have financial literacy classes for players. It’s definitely a start