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11-10-2008, 03:07 PM
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#21
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Thinks s/he gets paid by the post
Join Date: Jul 2007
Location: St. Louis
Posts: 1,563
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 Quote:
Originally Posted by . . . Yrs to Go
I'm not crazy about state finances these days so I'm not sure I'd want to trust my $10MM to the muni's. I'd go with TIPs and pay the taxes. Maybe a little fun money in equities.
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That's a good point I think all of them but 12 are in the red.
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11-10-2008, 03:11 PM
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#22
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2003
Location: Kansas City
Posts: 7,968
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My smart ass version - at ten mil you are at the low end bragging wise but:
get a lawyer, form a foundation, buy Vanguard Balanced Index, VBINX,(the infamous 60/40 policy portfolio) hire yourself(at a good salary, benefits and expense account) to travel and give away 5% per year.
Or if you are a really cheap sort(   ) like me - buy the tax managed version. VTMFX, and party til you puke.
heh heh heh - and if you like the mysterious 'value premium' - pssst Wellesley, pay your taxes and party on.
Then there is - buy a cheap mansion with a thirty year mortgage, live there 2 years, fix and flip, and repeat. I mean we gotta give the RE cats some respect.
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11-10-2008, 05:22 PM
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#23
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Moderator Emeritus
Join Date: Jun 2007
Location: At The Cafe
Posts: 6,873
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Charitable remainder trust.
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11-10-2008, 05:26 PM
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#24
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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I think I would take up smoking dope and looking at how big the pile was about every year.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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11-10-2008, 05:29 PM
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#25
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,037
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Quote:
Originally Posted by rec7
I would invest in short term tax exempt bonds paying about 3.2%. Any better ideas out there? Would there be a need to move to a tax free state or would tax exempt bonds slove that problem?
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do you adopt? 
i would use half of it to buy up as much undeveloped land as i could up here in East Nowhere NY, set aside some $ for property taxes, hold it for 10 years, then sell it in 5 acre parcels to rich people from NYC and NJ and LI.
the other half? can you say SQUANDER fast 3x ?
__________________
"All our dreams can come true, if we have the courage to pursue them." - Walt Disney
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11-10-2008, 05:36 PM
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#26
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Thinks s/he gets paid by the post
Join Date: Apr 2007
Location: west bloomfield MI
Posts: 2,223
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$10 M??
$5 set aside for taxes
the other $5 M-
$1 M in TIPS
$2 M in dividend mutual fund with a 3% yield
$1 M in REITs
$1 M in muni bonds
__________________
Light travels faster than sound. That is why some people appear bright until you hear them speak. One person's stupidity is another person's job security.
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11-10-2008, 07:24 PM
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#27
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Thinks s/he gets paid by the post
Join Date: Sep 2008
Posts: 2,171
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Quote:
Originally Posted by Texarkandy
Aren't those large lottery wins paid out over 20 years?
So a 10,000,000 win would actually be $500,000 per year less taxes you'd have to figure out how to live & invest on.
Heck, I'd probably just max out my IRA's for the year & blow the rest on travel & fun.
When it runs out in 20 years I'd live off the IRA's.
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I believe you'd have to continue to w*rk in order to do this. Don't you have to have earned income to put the money in an IRA?
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11-10-2008, 07:40 PM
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#28
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Thinks s/he gets paid by the post
Join Date: Feb 2008
Posts: 1,281
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Quote:
Originally Posted by kyounge1956
I believe you'd have to continue to w*rk in order to do this. Don't you have to have earned income to put the money in an IRA?
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Oh yeah - ok, well forget the IRA part then - party on!
__________________
Retired 2009!
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11-10-2008, 07:50 PM
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#29
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Thinks s/he gets paid by the post
Join Date: Sep 2008
Posts: 2,171
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It's probably better that way. After all the maximum IRA contribution is only $5K a year plus another thou if you are over 50. I don't have my calculator to hand so I'm just guessing, but even if you completely maxed your IRA every last one of the 20 years and we had a bull market the whole time, I doubt you'd be able to continue with a comparable lifestyle to the half-million-less-IRA that you would have been enjoying for the previous 20 years!
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11-10-2008, 08:17 PM
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#30
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Recycles dryer sheets
Join Date: Apr 2007
Posts: 491
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You'all think different from me. It is the rich that can afford to take chances. I think I would use close to the same allocation I have now:
5% gold
35% short term bonds (treasuries)
15% Large cap US Index
10% Mid cap US Index
10% small cap US Index
15% oversea developed US Index
5% overseas developing US Index
Balance once per year
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11-10-2008, 08:34 PM
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#31
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
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Would not be too different than what I have done (with a smaller sum of course)
30% in safe places like T-bills, CDs, bonds, etc...
35% sent to Buffet,
the other 35% I take to the Scottrade casino.
A guy can't travel all the time. It gets tiring after about 3 weeks. Then one needs a period of rest of a few months before going out again. Other than watching over your stocks with all that free time, what's a guy to do?
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11-10-2008, 08:35 PM
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#32
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Dec 2006
Location: Collin County, TX
Posts: 9,296
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Spread 9.5M among several banks, then "invest" the rest in Vegas.... 
__________________
There's no need to complicate, our time is short..
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11-10-2008, 09:11 PM
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#33
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Recycles dryer sheets
Join Date: Nov 2007
Posts: 103
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I'd be pretty conservative with that kind of money, but I'd probably shoot for at least 40% stock overall still.
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11-10-2008, 10:05 PM
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#34
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Oct 2006
Posts: 7,733
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I'd bet it all on the pass line at the crap table in Vegas or Atlantic city. 10 Million just isn't enough to scrape buy you need $20 mil 
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11-11-2008, 03:07 AM
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#35
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Moderator
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 25,339
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I'd invest in an RV, a boat, an airplane, a Harley, beer, dancing girls....
And oh, yeah, put a couple million in the bank for hard times.
__________________
When I was a kid I wanted to be older. This is not what I expected.
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11-11-2008, 08:09 AM
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#36
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Moderator Emeritus
Join Date: Jun 2007
Location: At The Cafe
Posts: 6,873
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George Vanderbilt inherited $10,000,000 in 1885 and invested part of it in this country cottage:
Visit Biltmore - Biltmore House
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11-11-2008, 08:15 AM
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#37
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
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__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
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11-11-2008, 09:04 AM
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#38
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Moderator Emeritus
Join Date: Jun 2007
Location: At The Cafe
Posts: 6,873
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Yeah, yeah, tell it to poor slighted George. 
His brothers each inherited $60,000,000 and were able to build their country cottages at the more expensive fashionable Newport:
House Tour
Now I understand why forum members say they enjoy house surfing. 
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11-11-2008, 10:31 AM
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#39
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Dec 2006
Location: Collin County, TX
Posts: 9,296
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Quote:
Originally Posted by Walt34
I'd invest in an RV, a boat, an airplane, a Harley, beer, dancing girls....
And oh, yeah, put a couple million in the bank for hard times.
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I like your idea better! Of course I would have to change one of the "investments".......
__________________
There's no need to complicate, our time is short..
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11-11-2008, 11:24 AM
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#40
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
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The first thing I would do is secure a decent income stream by taking $2M of it and putting it in a number of different inflation-adjusted SPIAs with different insurers -- basically "buying a pension" with 20% of it.
Then I'd probably put about half of the rest ($4M) in TIPS and the final $4M in a total market index. As I wouldn't suspect I'd ever need the stock portion of it for income, I wouldn't be too stressed about the current market. I'd mostly be growing it for my estate.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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