If I were Filthy Rich
By throw_away_to_ranttt+52 If you win lucky for Life jackpot, you still remaining anonymous?
Think $365,000/year, maybe $250,000 after taxes.
Would you set up a blind trust? Cause I'm sure hiring the lawyer and keeping it active costs a lot. Plus, what if I want to blow a bunch of money one day, I have to go through my lawyer to get it? I'd understand it for millions of dollars but $365k is a salary these days!
What're your thoughts? Bonus if you can explain the costs of having and keeping a blind trust. Could I have my lawyer just write me a 20K check each month?
Recent responses
+30 @Lanky_Possession_244 If you can't manage your spending habits when it's being given out yearly, you're gonna have a bad time no matter what. It's 365k a year, not a lump sum of millions. Set a budget, keep what you need to follow it, and invest the rest in case something happens and you need it. You don't need a lawyer for that, just a financial advisor that tells you where to stash it and when to reallocate on bad years, and that's not even necessary unless you are really bad with money.