At $100K FDIC coverage per account, how would you safely deposit a large lump sum? There aren't many local banks here that I would trust with that much money. I think I'd seriously consider hiring someone to negotiate a private sale of the ticket. >>
I would help a lot of people. But not those who come with their hands held out.
And I would start my early eagles collection. And overdates, a la Dr Juan XII Suros (Superior, February 1999), only better if possible. What fun that guy must have had, it shows in the catalog.
Having said that, I believe that the richest man is not he who has the most, but he who needs the least.
i thought it was one depositor not per account...had a couple guys out here in vegas find out the hard way...they had multiple accounts in one bank...the bank went belly up...they received their $250k....even though they had well over 500k at the same bank/branch...they use "tax payer i.d." and cover upto the $250k per depositor
anyone else care to clarify as my coffee has just brewed
everything in life is but merely on loan to us by our appreciation....lose your appreciation and see
Unlikely that I would immediately think of buying coins. In fact, I would not think of coins at all. Too many other things to do with that kind of financial windfall. I would probably not be on the forum for a long time though. Cheers, RickO
i thought it was one depositor not per account...had a couple guys out here in vegas find out the hard way...they had multiple accounts in one bank...the bank went belly up...they received their $250k....even though they had well over 500k at the same bank/branch...they use "tax payer i.d." and cover upto the $250k per depositor
anyone else care to clarify as my coffee has just brewed >>
"provides deposit insurance, which guarantees the safety of deposits in member banks, up to $250,000 per depositor per bank as of January 2012."
No Way Out: Stimulus and Money Printing Are the Only Path Left
<< <i>Call me crazy, but I wouldn't want it. No way, no how. I kind of like having enough for all of my needs and many of my wants. Being able to afford one nice coin or a few "collector" coins a month suits me fine. Being able to get anything would remove a good part of the thrill.
What I'm really after is personal satisfaction, and so far I've determined that comes mostly from doing a job well, family relationships, learning, and enjoying good friends. Most, if not all, of that would be harder as a multi millionaire. Sounds a bit puritanical huh? Oh well. I guarantee whoever wins this will be less happy 5 or 10 years later. >>
There is a lot to be said for this too, but alas I am not as "financially secure" as I'd like to be.
i thought it was one depositor not per account...had a couple guys out here in vegas find out the hard way...they had multiple accounts in one bank...the bank went belly up...they received their $250k....even though they had well over 500k at the same bank/branch...they use "tax payer i.d." and cover upto the $250k per depositor
anyone else care to clarify as my coffee has just brewed >>
It is only $250k per depositor, per bank. so you can't open 10 accounts at 10 different Bank of America branches across the country to get $2.5m of coverage... you'd still only get $250k from the FDIC. But you could open 10 accounts at 10 different banks to get up to $2.5m in coverage.
Additionally, if you have funds in a trust account where the beneficiaries of the trust have equal shares of the trust, each beneficiary is covered for up to $250k. So, if you have a trust with 10 beneficiaries with equal shares, the single account is covered for $2.5m. 100 beneficiaries would get you $25m of coverage, but all beneficiaries must have an equal share. Could work if you have a big network of friends and family that you are willing to treat equally. Presumably, you could open such a trust account at multiple banks to further increase the FDIC coverage.
Up to $640 Million........eh, I'd still settle for $540M before taxes.
Also as far as coins, I'd finally finish my date/mm set of Morgan Dollars, but might upgrade a few.
First and foremost (of course), I would tithe 10% to my church, then do ALOT of good with all that money as I'm lead to. This is all after I asemble a fleet of lawyers, tax attorneys, and accountants. If you don't do that, you set yourself up for disaster.
@ Elite CNC Routing & Woodworks on Facebook. Check out my work. Too many positive BST transactions with too many members to list.
My Wife would quit her job. That alone would be benefit of that lottery win to us. But you can bet those auction catalogs would be viewed in a whole new light.
After I shared with family and friends and set up a trust to help others less fortunate, I would approach Cardinal with an offer to buy his Large Cents.
I would pay JK to assemble the all time finest Washingtonia collection (I miss my little one that I sold a few years back)...probably wouldn't even cost that much, especially after I hire people to whack all the other major bidders.
Id first buy ABs morgans. Then I would put 10 mil in an investment account and use the interest to hold annual college scholarship programs for yns. Id buy all of my family new houses, and a ill spread the wealth here with those who have helped me out. I can imagine walking down the street and whenever I witnessed selfless acts of kindness, hand them over a check for 25k. That would be fun.
First, I would buy a big antique treasure chest. Then I would fill the chest with raw $20 Liberty Double Eagles. Then I would buy an authentic pirate costume and play with all those coins all day long! Of course, I would make several U-tube videos of my playful antics and post them all here until I was banned from posting. I then would buy up a majority of the stock in this company and grade my own coins,continuing to post here for the rest of my life!
<< <i>Up to $640 Million........eh, I'd still settle for $540M before taxes.
Also as far as coins, I'd finally finish my date/mm set of Morgan Dollars, but might upgrade a few.
First and foremost (of course), I would tithe 10% to my church, then do ALOT of good with all that money as I'm lead to. This is all after I asemble a fleet of lawyers, tax attorneys, and accountants. If you don't do that, you set yourself up for disaster. >>
I would buy a island and make a private museum for myself and a select few to come visit. A super nice boat and fish and a sea-do. I would also add some nice wild animals to the mix. Then I would try and take control of the world...no on second tough I would just stick with nature and coins....and on good days rare comic books and movie posters. And what the hell I would try one of those space travel vacations.
Comments
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A win THAT BIG could cause some problems. >>
I would like to have those problems. >>
At $100K FDIC coverage per account, how would you safely deposit a large lump sum? There aren't many local banks here that I would trust with that much money. I think I'd seriously consider hiring someone to negotiate a private sale of the ticket. >>
FYI, FDIC covers $250k per account now.
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448
And I would start my early eagles collection. And overdates, a la Dr Juan XII Suros (Superior, February 1999), only better if possible. What fun that guy must have had, it shows in the catalog.
Having said that, I believe that the richest man is not he who has the most, but he who needs the least.
``https://ebay.us/m/KxolR5
<< <i>I'd pay all the taxes and build a retirment center for all you old coin codgers. >>
I hope you win it then.
i thought it was one depositor not per account...had a couple guys out here in vegas find out the hard way...they had multiple accounts in one bank...the bank went belly up...they received their $250k....even though they had well over 500k at the same bank/branch...they use "tax payer i.d." and cover upto the $250k per depositor
anyone else care to clarify as my coffee has just brewed
<< <i>I'd be hard pressed to not go nuts at a Barrett Jackson auction first. >>
Thanks for the tip, I'll be there.
No Way Out: Stimulus and Money Printing Are the Only Path Left
<< <i>"FYI, FDIC covers $250k per account now. "
i thought it was one depositor not per account...had a couple guys out here in vegas find out the hard way...they had multiple accounts in one bank...the bank went belly up...they received their $250k....even though they had well over 500k at the same bank/branch...they use "tax payer i.d." and cover upto the $250k per depositor
anyone else care to clarify as my coffee has just brewed >>
"provides deposit insurance, which guarantees the safety of deposits in member banks, up to $250,000 per depositor per bank as of January 2012."
No Way Out: Stimulus and Money Printing Are the Only Path Left
<< <i>Call me crazy, but I wouldn't want it. No way, no how. I kind of like having enough for all of my needs and many of my wants. Being able to afford one nice coin or a few "collector" coins a month suits me fine. Being able to get anything would remove a good part of the thrill.
What I'm really after is personal satisfaction, and so far I've determined that comes mostly from doing a job well, family relationships, learning, and enjoying good friends. Most, if not all, of that would be harder as a multi millionaire. Sounds a bit puritanical huh? Oh well. I guarantee whoever wins this will be less happy 5 or 10 years later. >>
There is a lot to be said for this too, but alas I am not as "financially secure" as I'd like to be.
<< <i>"FYI, FDIC covers $250k per account now. "
i thought it was one depositor not per account...had a couple guys out here in vegas find out the hard way...they had multiple accounts in one bank...the bank went belly up...they received their $250k....even though they had well over 500k at the same bank/branch...they use "tax payer i.d." and cover upto the $250k per depositor
anyone else care to clarify as my coffee has just brewed >>
It is only $250k per depositor, per bank. so you can't open 10 accounts at 10 different Bank of America branches across the country to get $2.5m of coverage... you'd still only get $250k from the FDIC. But you could open 10 accounts at 10 different banks to get up to $2.5m in coverage.
Additionally, if you have funds in a trust account where the beneficiaries of the trust have equal shares of the trust, each beneficiary is covered for up to $250k. So, if you have a trust with 10 beneficiaries with equal shares, the single account is covered for $2.5m. 100 beneficiaries would get you $25m of coverage, but all beneficiaries must have an equal share. Could work if you have a big network of friends and family that you are willing to treat equally. Presumably, you could open such a trust account at multiple banks to further increase the FDIC coverage.
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448
Up to $640 Million........eh, I'd still settle for $540M before taxes.
Also as far as coins, I'd finally finish my date/mm set of Morgan Dollars, but might upgrade a few.
First and foremost (of course), I would tithe 10% to my church, then do ALOT of good with all that money as I'm lead to. This is all after I asemble a fleet of lawyers, tax attorneys, and accountants. If you don't do that, you set yourself up for disaster.
Too many positive BST transactions with too many members to list.
Maybe create my own lotto and give away thousands of smaller prizes.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I like to think I would do something really good with the money, and not just blow it on a bunch of toys.
In that case, let's hope someone else wins. Sorry, but coin dealers need to eat too.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i>Sorry, but coin dealers need to eat too. >>
From what I've seen, many of them eat copiously, if not particularly well.
60 years into this hobby and I'm still working on my Lincoln set!
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<< <i>Sorry, but coin dealers need to eat too. >>
From what I've seen, many of them eat copiously, if not particularly well. >>
Hah. Funny. Zing.
<< <i>Up to $640 Million........eh, I'd still settle for $540M before taxes.
Also as far as coins, I'd finally finish my date/mm set of Morgan Dollars, but might upgrade a few.
First and foremost (of course), I would tithe 10% to my church, then do ALOT of good with all that money as I'm lead to. This is all after I asemble a fleet of lawyers, tax attorneys, and accountants. If you don't do that, you set yourself up for disaster. >>
Why would you need a fleet of those people?
<< <i>Mega Millions winning numbers: 2-4-23-38-46-MB 23 >>
I guess I'll keep wishin 'n hopin 'n dreamin.