If I were Filthy Rich
By Cultural_Antelope_20+63 Justify Big Spending
For those really waning to live it up -
Let’s go through the tiers of spending. If you won 100 mil or more At what level of winnings would you justify buying a 30 mil plus home, a 5 mil, private travel, a yacht car collection etc etc etc
Recent responses
+97 @jackgranger99 You can't justify buying a 30 million+ house when you have a 100 mil win, the rest of the money would be going into maintaining the house.
+41 @Feisty-Barracuda5452 I'm not buying a $30 million dollar home, the upkeep on something like that will drain your resources quickly.
+40 @johnbmason47 My wife and I were talking about this recently. There are two houses on the river near us. In between them is a slip for a very very large boat. Regardless of what we won, we’d be buying both of them so I can live out my dreams of buying a WWII submarine and becoming Captain Nemo.
+24 @Southern_Source_2580 My idea of living it up differs from others. You look at already built homes to spend big bucks on, I look at land that I can build that home villa for a fraction of the cost. The only big spending would be cost of materials or play the credit game in my favor. Being poor for a good portion of one's life makes one look for efficient purchasing options.
+23 @SomethingClever2117 Over $100m and my real estate portfolio would be about $20m. No single property over $10m. Need about $50m in investments so you generate money yearly. My car collection wouldn’t be extensive, but a couple really nice sports cars and lease the newest and best SUV and sedan. Maybe a small boat if I bought a lake house, but nothing crazy. Traveling would be where I’d spend a lot of money though. No need for private jets or anything unless there is no other way. But going to sporting events and concerts and festivals would be about $500k a year at least. The things I would not buy: yachts, planes, helicopters, etc. You have to remember that you’re a millionaire, not a billionaire. Spend your money like you’re a retired pro athlete and not a 20 year old that just signed their first contract.
+13 @jackrussellenergy Single so I would prefer buying slightly smaller residences in places I love. My primary house (and largest) would be in my favorite city. After that I’d probably get a beach condo, a mountain cabin/lake house, and maybe one more city condo. Anything more than that would be way too much and at that point you can just rent penthouses for a few weeks to months while you travel. Honestly even having four properties might bother me because of how often they’d sit empty. I might consider letting family or friends borrow them for vacations.
+12 @LadyBeBop I definitely wouldn’t buy a bigger house. If I could, I’d buy a smaller house with a nicer view. Just don’t want the maintenance on a large house. Don’t want a yacht. My husband and I will sail the seven seas. But probably on Viking, Seaborne or one of the luxury cruise lines. No private planes either. But we will fly Qatar Q suites. No luxury cars either. I don’t really want to be a show-off.
+11 @KrAff2010 I don’t play at all unless the jackpot is over $200 million so that would set the bar for me. After taxes it would be around $80 million. There is absolutely no chance I could justify buying a $30 million home. Even if I netted $300 million I just wouldn’t. I live in a LCOL area so a $30 million house in a HCOL area is less than $5 million here. A good rule is never spend more than 30% on all real estate though so by that rule you could buy a single $30 million home winning $100 million. You’d be stretching your money pretty thin though so I wouldn’t recommend. A $5 million home is reasonable as long as you win at least $20 million. A private jet would never be reasonable for a lottery winner, but chartering could be for special events. Yachts are pretty much the same deal, charter don’t own. You could justify a nice car collection for relatively little. Unless you’re buying cars worth millions you could get a good collection for a million or so
+10 @SoftwareFar9848 I never understand the large house thing. I was watching an interview with Jlo, and she opens the door and invites the reporter back into her yard or kitchen or whatever, and they are walking, and walking, and walking. It took like many minutes just to get to the kitchen. I'm sure it's great for you, but I really don't need to walk a quarter mile every time I need a snack, no matter how exorbitantly wealthy I may become.
+10 @TashaT50 Not in my plans to spend that much on me. I plan to invest 20% to live off of. 10% to spend for houses, cars, spending spree with my best friend, etc. We buy our tickets together. 5-10% is to build a mini indoor amusement park - refurbish/restore a carousel, mini-golf, a few rides, games, a function room, commercial kitchen, we’re still figuring out the details - but we know we want to let it out for charitable causes a few days a month and also for free for sick kids a few days a month & donate to town & leave a trust to cover cost to keep open after we die. 30% is for family and friends to pay off their debts and create lifetime trust. 30% planned for a charitable trust.