If You Won The Lottery, What Would You Do?

I'm reading some article about people who lose/blow millions of dollars after they win the lottery - anywhere from $100k to hundreds of millions.

Usually these people in the stories are incredibly poor and simply don't know how to handle money at all, let alone those kind of sums.

If you, someone who works in or is studying finance, won some sort of lottery - say $10 million just to pick a number so there are some boundaries on what you can do - what would you do with it? What would you buy? What would you invest in? Who would you help out or not help out?

 

I would invest the money, wouldn't really want to spend it on stupid stuff. I would put some of it in bonds and the rest in stocks. This would help me move up my retirement date, but that is it.

 
Wild Eagle:

I would invest the money, wouldn't really want to spend it on stupid stuff. I would put some of it in bonds and the rest in stocks. This would help me move up my retirement date, but that is it.

Noice asset allocation...not.

[quote]The HBS guys have MAD SWAGGER. They frequently wear their class jackets to boston bars, strutting and acting like they own the joint. They just ooze success, confidence, swagger, basically attributes of alpha males.[/quote]
 

Invest in real estate and other assets which help provide a strong and stable income stream. Then just continually donate the money towards charities. If I won hundreds of millions, I would probably donate a large chunk to my university so they would have a statue of me in the middle of campus.

Array
 

Shoes!!!!

xoxo

[quote=Dirk Dirkenson]Shut up already. Your mindless, reflexive responses to any critical thought on this are tedious. You're also probably a woman, given the name and "xoxo" signoff, so maybe the lack of judgment is to be expected.[/quote]
 

I've got a more specific question to ask: if you won one of those 'win for life' things and had to chose between $5000 a week for life or a lump payment of 1 million (both these figures before tax), which would you chose?

 
Mantis Toboggan:

I've got a more specific question to ask: if you won one of those 'win for life' things and had to chose between $5000 a week for life or a lump payment of 1 million (both these figures before tax), which would you chose?

Easy i would take the $5000 a week, without taxes involved in just 3.8 years you would hit a million. I have a good feeling I'll live for another 4 years, since im only 24, and if not sucks to be me haha

"When a defining momnet comes alone, you either define the moment or the moment defines you..." - Tin Cup Talent is hitting a target no one can hit. Genius is hitting a target no one can see.
 

I know that PV=A/r for a perpetuity, dunno what compounding rate to use atm, and in any case would be weary of hyperinflation (and also uncomfortable with the idea of the gov't having a financial interest in my death occurring).

 

Anyhow, I wonder if everyone here would actually be as responsible as they claim. I know if I won $10 million (we'll say post-tax since this is theoretical anyhow) I would definitely save and/or invest most of it, but $1 million would definitely go to select family members as a gift (Gotta help the Mom out) and $1 million would definitely go to a car, nice clothes, an apartment (thank you, affordable regional city), and a trip or two.

Commercial Real Estate Developer
 
CRE:

Anyhow, I wonder if everyone here would actually be as responsible as they claim. I know if I won $10 million (we'll say post-tax since this is theoretical anyhow) I would definitely save and/or invest most of it, but $1 million would definitely go to select family members as a gift (Gotta help the Mom out) and $1 million would definitely go to a car, nice clothes, an apartment (thank you, affordable regional city), and a trip or two.

The first thing I would do would get rid of any debt. Pay off my student loans, my siblings student loans and any of my parents debt. Otherwise at this point there is nothing else I need. Sure a car, clothing, etc are all nice but I can buy that all now, just chose not to. Can even throw the cash in some low risk fixed income and live of interest.

 

True story - my Aunt and Uncle won $10 million lottery. They get 500k pre-tax for 20 years. After taxes, it comes out to about $270k a year. They paid everything off and my Uncle bought a huge GMC Yukon Denali XL. Otherwise they haven't spent it on anything else and are both still working in their 6 figure jobs. They plan on going to vacation at some point soon. Also, they didn't have a choice of lump sum vs. payments so that's why they have the 20 years of payments.

Frank Sinatra - "Alcohol may be man's worst enemy, but the bible says love your enemy."
 
yeahright:

True story - my Aunt and Uncle won $10 million lottery. They get 500k pre-tax for 20 years. After taxes, it comes out to about $270k a year. They paid everything off and my Uncle bought a huge GMC Yukon Denali XL. Otherwise they haven't spent it on anything else and are both still working in their 6 figure jobs. They plan on going to vacation at some point soon. Also, they didn't have a choice of lump sum vs. payments so that's why they have the 20 years of payments.

You should offer to invest it for them.

Array
 
TeddyTheBear:
yeahright:

True story - my Aunt and Uncle won $10 million lottery. They get 500k pre-tax for 20 years. After taxes, it comes out to about $270k a year. They paid everything off and my Uncle bought a huge GMC Yukon Denali XL. Otherwise they haven't spent it on anything else and are both still working in their 6 figure jobs. They plan on going to vacation at some point soon. Also, they didn't have a choice of lump sum vs. payments so that's why they have the 20 years of payments.

You should offer to invest it for them.

Haha, get into wealth management and sign up my first client :p

Frank Sinatra - "Alcohol may be man's worst enemy, but the bible says love your enemy."
 
yeahright:

True story - my Aunt and Uncle won $10 million lottery. They get 500k pre-tax for 20 years. After taxes, it comes out to about $270k a year. They paid everything off and my Uncle bought a huge GMC Yukon Denali XL. Otherwise they haven't spent it on anything else and are both still working in their 6 figure jobs. They plan on going to vacation at some point soon. Also, they didn't have a choice of lump sum vs. payments so that's why they have the 20 years of payments.

you can sell the PV of the annuity, probably at a discount but still better than taking municipal credit risk.
 
bearcats:
yeahright:

True story - my Aunt and Uncle won $10 million lottery. They get 500k pre-tax for 20 years. After taxes, it comes out to about $270k a year. They paid everything off and my Uncle bought a huge GMC Yukon Denali XL. Otherwise they haven't spent it on anything else and are both still working in their 6 figure jobs. They plan on going to vacation at some point soon. Also, they didn't have a choice of lump sum vs. payments so that's why they have the 20 years of payments.

you can sell the PV of the annuity, probably at a discount but still better than taking municipal credit risk.

That's a good point. What discount rate would you use though and who even buys lottery annuity payments? My aunt and uncle have literally no idea about this though and would probably be against it just because they are so unaware.

Frank Sinatra - "Alcohol may be man's worst enemy, but the bible says love your enemy."
 

lol no one said you won in greece

bearcats:
yeahright:

True story - my Aunt and Uncle won $10 million lottery. They get 500k pre-tax for 20 years. After taxes, it comes out to about $270k a year. They paid everything off and my Uncle bought a huge GMC Yukon Denali XL. Otherwise they haven't spent it on anything else and are both still working in their 6 figure jobs. They plan on going to vacation at some point soon. Also, they didn't have a choice of lump sum vs. payments so that's why they have the 20 years of payments.

you can sell the PV of the annuity, probably at a discount but still better than taking municipal credit risk.

If the glove don't fit, you must acquit!
 
bearcats:
yeahright:

True story - my Aunt and Uncle won $10 million lottery. They get 500k pre-tax for 20 years. After taxes, it comes out to about $270k a year. They paid everything off and my Uncle bought a huge GMC Yukon Denali XL. Otherwise they haven't spent it on anything else and are both still working in their 6 figure jobs. They plan on going to vacation at some point soon. Also, they didn't have a choice of lump sum vs. payments so that's why they have the 20 years of payments.

you can sell the PV of the annuity, probably at a discount but still better than taking municipal credit risk.

The settlement structuring firms that do this (primarily from legal settlements) have some pretty solid margins. I would be wary of private solutions, as they tend to be priced for people that have healthcare bills to pay and few other options.

 
yeahright:

True story - my Aunt and Uncle won $10 million lottery. They get 500k pre-tax for 20 years. After taxes, it comes out to about $270k a year. They paid everything off and my Uncle bought a huge GMC Yukon Denali XL. Otherwise they haven't spent it on anything else and are both still working in their 6 figure jobs. They plan on going to vacation at some point soon. Also, they didn't have a choice of lump sum vs. payments so that's why they have the 20 years of payments.

http://lmgtfy.com/?q=sell+your+annuity+payments
 
yeahright:

True story - my Aunt and Uncle won $10 million lottery. They get 500k pre-tax for 20 years. After taxes, it comes out to about $270k a year. They paid everything off and my Uncle bought a huge GMC Yukon Denali XL. Otherwise they haven't spent it on anything else and are both still working in their 6 figure jobs. They plan on going to vacation at some point soon. Also, they didn't have a choice of lump sum vs. payments so that's why they have the 20 years of payments.

A smart private banker could probably work out a structure to borrow against those payments at a pretty awesome rate (LIBOR + 300) and then you can match the liability payment with part of the loan and use the rest of the loan to invest or spend if your aunt and uncle prefer.

 
CRE:

I'm reading some article about people who lose/blow millions of dollars after they win the lottery - anywhere from $100k to hundreds of millions.

Usually these people in the stories are incredibly poor and simply don't know how to handle money at all, let alone those kind of sums.

These statements are why the lottery really is a tax on stupid people in my opinion. Not only is the money lost at the time of purchase, but their ability to do well with the money is already mitigated by inability to manage their financial expectations.

I would probably just sleep for a few days, turn off my phone, then go into hiding from all the people who would come out of the woodwork for a piece, by changing my name. Oh yeah, and get a ticket to the Superbowl.

- wonderbread
 

Assuming post-tax...

$4M... non-luxury income producing properties (three-flat / condos-for-rent) in areas that won't lose its popularity (ie waterfront). Include buffer for repairs, maintenance, etc.

$4M... lower-risk index/mutual funds

$2M... $700-800K house, student loans, help family members, cash

 

I'd go pee in public. Don't have to give a fuck about the sex offender's registry anymore...

"You stop being an asshole when it sucks to be you." -IlliniProgrammer "Your grammar made me wish I'd been aborted." -happypantsmcgee
 
D M:

I'd go pee in public. Don't have to give a fuck about the sex offender's registry anymore...

That's really sex offender status? I though it was more of a pay a fine kind of deal. If that's so, I need to start making better friends.

Competition is a sin. -John D. Rockefeller
 
Hooked on LEAPS:
D M:

I'd go pee in public. Don't have to give a fuck about the sex offender's registry anymore...

That's really sex offender status? I though it was more of a pay a fine kind of deal. If that's so, I need to start making better friends.

In a lot of places yea, I think it depends on the cop and DA

"You stop being an asshole when it sucks to be you." -IlliniProgrammer "Your grammar made me wish I'd been aborted." -happypantsmcgee
 

Invest half relatively conservatively (you want to live off the interest forever; so dividend plays, some munis, etc), play around with the other half (nice house(s), cars, vacations, etc.).

You'd have to be truly retarded to squander $10M. Most of the people who squander their lottery winnings are the people that win say $500K or $1M; not the people who win so much that you'd have to be an absolute retard to lose it all (even if you blew it all on houses, cars, yachts, etc. and made no investments; those things retain SOME value).

 

Assuming that the $10M was post tax..

$4M... safe, conservative investments. (i'd assume that ultra conservative in the longterm based on interest + dividends would be 4.5%, which is 180K$ a year, that'd compound nicely as long as I don't need to touch it.)

$2M... a mansion-esque home in an extremely cheap part of the country, think Arizona.

$1M... help out friends & family.

$1.5M... an exciting venture that i'm passionate about with understanding that losing the money is very probable. Ex - opening a restaurant, ice cream parlor, gym, minor league sporting franchise. Something that's inherently risky but fun. If it work's out I can't think of something more enjoyable than owning and running a profitable business you're passionate about.

$1.5M... invest in startups, probably in the robotics and bionics industries, and hope one not only grows my investment tremendously, but equally important (to me, atleast), changes the world.

 
Prospect022:

Assuming that the $10M was post tax..

$4M... safe, conservative investments. (i'd assume that ultra conservative in the longterm based on interest + dividends would be 4.5%, which is 180K$ a year, that'd compound nicely as long as I don't need to touch it.)

$2M... a mansion-esque home in an extremely cheap part of the country, think Arizona.

$1M... help out friends & family.

$1.5M... an exciting venture that i'm passionate about with understanding that losing the money is very probable. Ex - opening a restaurant, ice cream parlor, gym, minor league sporting franchise. Something that's inherently risky but fun. If it work's out I can't think of something more enjoyable than owning and running a profitable business you're passionate about.

$1.5M... invest in startups, probably in the robotics and bionics industries, and hope one not only grows my investment tremendously, but equally important (to me, atleast), changes the world.

Good man
 

1.don't tell anyone & dont sign ticket 2.act casual 3.make photocopies of ticket, store in safe deposit boxes 4.open blind trust, lawyer legally bound to maintain confidentiality --> circumvent public announcement of winnings 5.get in touch with financial planner, tax accountant, real estate guy, etc. 6.pay off existing debts

 
tequilazombie:

1.don't tell anyone & dont sign ticket
2.act casual
3.make photocopies of ticket, store in safe deposit boxes
4.open blind trust, lawyer legally bound to maintain confidentiality --> circumvent public announcement of winnings
5.get in touch with financial planner, tax accountant, real estate guy, etc.
6.pay off existing debts

anddddd make sure to hire another lawyer to watch your first lawyer. Just in case he tries to play you. You never know.

 

Give it all away. Don't get me wrong, I would love to win the lottery, but I feel as if i would be more satisfied if it was earned, rather than given.

"He who made it from struggling made it the best"

 
RockyRoad:

Give it all away. Don't get me wrong, I would love to win the lottery, but I feel as if i would be more satisfied if it was earned, rather than given.

"He who made it from struggling made it the best"

liar

Commercial Real Estate Developer
 

If you have a choice between lump and an annuity they PV the annuity offer at a determined discount rate to result in the lump.

It's not always a no brainer to take the lump. It's based on what interest rates are at the time.

Today? Take the lump because with the rates near zero, lump sum payments would of course be very high.

Blue horseshoe loves Anacott Steel
 

live like a scrooge, put away a few million in savings, take the rest and start a micro forex/commodities fund and lever the fuck out of it, and do it in another country where they allow insane leverage levels

alpha currency trader wanna-be
 

I'd invest most of the winnings and eventually give 90% of it to the less fortunate. I'd continue going to school and eventually be working by butt off to further my career like everyone else out there......a career that is intellectually challenging and rewarding. Money doesn't buy you happiness.

"There are three kinds of lies: lies, damned lies, and statistics." - Mark Twain
 

Assuming the $10M is the lump sum payment:

$4.34M for taxes (39.6% federal rate plus 3.8% Medicare contribution tax) $1.5M for tithes & "charity" category $0.16M to pay off student loans, pay off the car, and buy a small house $3.0M - mutual funds, REITs, Roth IRA contributions for retirement, Series EE bonds for kids' education, etc. $1.0M - Invent stuff. Pay for patents, prototypes, app development, etc. Eventually scale up to an Intellectual Ventures-style private equity firm sans the patent trolling, then pull an Elon Musk and pick a few frontiers to push for commercial viability - genetic engineering, telomere research, graphene development, climate control, space exploration, etc.

 
808:

Assuming the $10M is the lump sum payment:

$4.34M for taxes (39.6% federal rate plus 3.8% Medicare contribution tax)
$1.5M for tithes & "charity" category
$0.16M to pay off student loans, pay off the car, and buy a small house
$3.0M - mutual funds, REITs, Roth IRA contributions for retirement, Series EE bonds for kids' education, etc.
$1.0M - Invent stuff. Pay for patents, prototypes, app development, etc. Eventually scale up to an Intellectual Ventures-style private equity firm sans the patent trolling, then pull an Elon Musk and pick a few frontiers to push for commercial viability - genetic engineering, telomere research, graphene development, climate control, space exploration, etc.

Really stretching that last MM, huh?
 
Little Engine Would:
808:

Assuming the $10M is the lump sum payment:
$4.34M for taxes (39.6% federal rate plus 3.8% Medicare contribution tax)
$1.5M for tithes & "charity" category
$0.16M to pay off student loans, pay off the car, and buy a small house
$3.0M - mutual funds, REITs, Roth IRA contributions for retirement, Series EE bonds for kids' education, etc.
$1.0M - Invent stuff. Pay for patents, prototypes, app development, etc. Eventually scale up to an Intellectual Ventures-style private equity firm sans the patent trolling, then pull an Elon Musk and pick a few frontiers to push for commercial viability - genetic engineering, telomere research, graphene development, climate control, space exploration, etc.

Really stretching that last MM, huh?

The operative word being "eventually", and assuming all the profits are reinvested. If you have a good patent and get expert help in licensing, you can make a lot of money with a relatively small amount of effort.

 

use enough to pay off debts, parents retire comfortably, close relative's schooling etc...

let's say 4 million left for myself, invest with 5% return is plenty for me to live on. then spend all waking time learning...reading, writing, studying, meeting smart people, finding a way to contribute to interesting projects...

 

If I won $10 Million from the Lottery, I would select the 20 year Annuity installment option. From there, I would have the payment wired to my investment account where it would comprise of the following:

50%: Common Blue Chip Stocks 30%: Preferred Stocks 20%: Corporate Bonds

If I am able to grow the $10 Million into over $100 Million to $200 Million, I would use part that money to restore an old ancient castle like Raglan Castle in Wales back to its former glory as a hotel and wedding venue, and place the property into a non-profit charitable trust. Thus, I would create my own charity because I'll know where the money's going to secure its future.

 

10 million

4 million into taxes?

3 million to buy a couple real estate for more income.

1 million to try playing poker for a living

1 million to try and do things other "things" that I want for a living.

1 million to travel the world.

I dont live an extravagant lifestyle, so 1 million will last me 1 million/ 60,000= 16 years? haha

 

No way. Not with that kind of cash. Something I always wanted to do is pursue the life of a monk for a few years. Live in relative solitude, focus solely on developing some insane martial arts techniques, and educate myself on world history, economics, and foreign language and culture. From there I would travel the world, taking odd jobs as they come, until I find a place I'd like to settle in.

Then one day my kids would discover the massive fortune to my name, and rush to find a way to kill me and make it seem like an accident so they can all get their inheritance.

in it 2 win it
 

Wake up, breakfast prepared by chef, hit the range for my lesson with Hank Haney, grab a snack and hit the course for 18, hit the gym, go out to dinner, booze, pass out. I'd mix that up from time to time by going on trips with my family and/or sporting events, concerts, theater, reading, etc. Not sure where I'd have any time for finance doing all that.

This to all my hatin' folks seeing me getting guac right now..
 

I'd buy a ranch in the Tetons, raise cattle, and channel my inner Jeremiah Johnson/dirtbag. Also: travel/women/food in abundance. No fucking way I'd do anything that requires me sitting at a desk.

 

If I won $200m in the lottery I wouldn't pursue any kind of normal career anymore. I'd start investing a bit of the money and have a good chunk just sitting at some low interest rate just in case anything would ever go bad. Besides that I'd live the good life and see the world etc.

I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing. See my Blog & AMA
 

the question ain't what but who I'd do...and I'd bang every big gurl in Long Island. Imma just drive down long island expressway in my yellow lambo searchin for Miss New Booty. and when i find her i swear dis jigga gonna marry her on da spot. i found u, miss new booty

 

Buy a house close to the water on the northeastern coast, a 60' yacht and a fishing boat. Fuck trading, I'd start my new life as a fisherman tomorrow.

CNBC sucks "This financial crisis is worse than a divorce. I've lost all my money, but the wife is still here." - Client after getting blown up
 
Working9-5:

Buy a house close to the water on the northeastern coast, a 60' yacht and a fishing boat. Fuck trading, I'd start my new life as a fisherman tomorrow.

amen bother ...

"I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing. " -GG
 
ThaVanBurenBoyz:
Build a, to scale, paintball arena replicating the Goldeneye (N64) multi-player maps
This is the best idea I've heard in a long time. In addition to Goldeneye, there are a bunch of maps from R6: Rogue Spear I think would make good paintball additions.
My name is Nicky, but you can call me Dre.
 

That's the real question here...how do you stay anonymous? I think going public will basically ruin a winner's life, and I would rather not win than go public.

What if you take your winning ticket to a Asset Manager and they claim it for you as XYZ Trust. Maybe the guys who work in AM can chime in here.

 
JamesHetfield:
That's the real question here...how do you stay anonymous? I think going public will basically ruin a winner's life, and I would rather not win than go public.

What if you take your winning ticket to a Asset Manager and they claim it for you as XYZ Trust. Maybe the guys who work in AM can chime in here.

I'm fairly certain this is legal for Powerball. Not sure about Mega Millions.
 

Let's see.... buy a very large plot of land and build a green and somewhat self-sustaining home in the mountains. Buy a snowmobile, a set of snow shoes, golf clubs, hiking gear, fly fishing gear and skis and a snowboard. Live a very comfortable life in the mountains and enjoy living the quiet life. With the rest, I'd give part of my family, make a donation to my fraternity and give a portion to charity. I'd just want to enjoy the quiet life.

 

If I won the lottery, I would continue to work for awhile until I had everything set up for my "retirement." I would want the money dispersed into the various accounts and investments, any properties I was to buy to be bought etc.

This way, I can secretly know that I can tell everyone to fuck off at any time, but not actually do it. Then once everything is set, I could throw a big bash and go out in style directly to my new mansion or out on my yacht.

Plus, banking makes for excellent connections that you would probably want to be able to manage the money and make investments in the future.

--There are stupid questions, so think first.
 

wow if I never had to work again, it would be great to pick up a creative pastime like writing or practicing an instrument.

Or maybe just be a man of leisure and try to hit on girls 24/7 like Steve Bing or Brandon Davis:

Sundance in January Aspen in February Cancun or Cabo San Lucas in March West Palm Beach/Miami in April Cannes or Monaco in May Hamptons/Cape Cod June/July Ibiza or Majorca in August some big 10/pac 10 campus in September (not Stanford) South America for October and November St. Mortiz in December

 

I would go with SEC school in september...

MichaelHutchens:
wow if I never had to work again, it would be great to pick up a creative pastime like writing or practicing an instrument.

Or maybe just be a man of leisure and try to hit on girls 24/7 like Steve Bing or Brandon Davis:

Sundance in January Aspen in February Cancun or Cabo San Lucas in March West Palm Beach/Miami in April Cannes or Monaco in May Hamptons/Cape Cod June/July Ibiza or Majorca in August some big 10/pac 10 campus in September (not Stanford) South America for October and November St. Mortiz in December

 
MichaelHutchens:
wow if I never had to work again, it would be great to pick up a creative pastime like writing or practicing an instrument.

Or maybe just be a man of leisure and try to hit on girls 24/7 like Steve Bing or Brandon Davis:

Sundance in January Aspen in February Cancun or Cabo San Lucas in March West Palm Beach/Miami in April Cannes or Monaco in May Hamptons/Cape Cod June/July Ibiza or Majorca in August some big 10/pac 10 campus in September (not Stanford) South America for October and November St. Mortiz in December

You know your s***, buddy! Looks like P Diddy's calendar!

 

A guy who just won $230+ million took home "only" 85 mln for cash option and after taxes.

If I won that much I would definitely quit immediately and not do anything (for income) for the rest of my life.

But if I were to win $10mln or like $4mln after taxes with cash option, I would quit anyway but would work on something more enjoyable and maybe start my own business.

 
DaniNo:
if I won, I wouldnt let anyone know except my family that's far away from ny.. and i would send them some money.. continue banking and pretty much not let it affect my life too much. hah.

Why?

Bond

- Bond
 

I wouldn't let anyone know as well, there is a negative stigma attached to lottery winners as well as expectations to be throwing lavish parties all the time, etc. I probably wouldn't quit my analyst stint right off the bat, but would look to move into a field that would help me learn how to manage the money (IM, HF, etc) as well as make connections. In the meantime I would start to allocate the assets into different investments and eventually take on more risk when I feel comfortable.

Once the money is growing itself nicely, I would do something interesting and socially acceptable for a few years and position myself for a political campaign. Start with the House and move my way up from there.

 

I would be play in every major poker event around the world. Would set enough aside in muni bonds so that I could live off the interest and would put the rest into starting a prop firm where I could hire people I thought would be successful traders. Yeah im an addict.

"Oh the ladies ever tell you that you look like a fucking optical illusion" - Frank Slaughtery 25th Hour.

"Oh the ladies ever tell you that you look like a fucking optical illusion" - Frank Slaughtery 25th Hour.
 

Anyone who would keep working as an analyst is a fucking moron. Not to mention, your incentive to work would drop to zero, basically. Your willingness to put in 100 hour weeks would evaporate immediately.

More importantly though, why the fuck would you keep working here? So you can do grunt work? So you can spend your days and nights looking at spreadsheets? Give me a fucking break. Some of you people are such ungodly tools, it blows my mind.

 
TheKing:
Anyone who would keep working as an analyst is a fucking moron. Not to mention, your incentive to work would drop to zero, basically. Your willingness to put in 100 hour weeks would evaporate immediately.

More importantly though, why the fuck would you keep working here? So you can do grunt work? So you can spend your days and nights looking at spreadsheets? Give me a fucking break. Some of you people are such ungodly tools, it blows my mind.

I agree with you 100%! Some of these posts here are ridiculous.

Actually if I found out that I won the lottery while being at work, my reaction would look like this:

"WOOOOHHOOOO, I QUIT, WOOOOOOOOOOHHHHHOOOOOOOOO"

 

100k on Black

"Oh the ladies ever tell you that you look like a fucking optical illusion" - Frank Slaughtery 25th Hour.

"Oh the ladies ever tell you that you look like a fucking optical illusion" - Frank Slaughtery 25th Hour.
 

...if you said you'd keep working as a fucking investment banking analyst, you need to have your fucking skull crushed with a sledgehammer.

Let's think about this:

You're saying that you'd want to continue spreading comps and reformatting presentations and building "financial models" all fucking day? Or screening for M&A comps, or spreading the WACC, or doing DCFs. You've got to be fucking kidding me.

This thread is actually making me visibly angry. If a fellow analyst ever said something so fucking pathetic to me, I'd beat him to death and fuck him in the ass with a plunger.

Did some piece of trash really say he'd keep working for the connections? Are you fucking kidding me? Yeah, that junior VP is really going to help you make serious life decisions with your millions. Oh yeah. Give me a fucking break.

 
TheKing:
Did some piece of trash really say he'd keep working for the connections? Are you fucking kidding me? Yeah, that junior VP is really going to help you make serious life decisions with your millions. Oh yeah. Give me a fucking break.

If you have that kind of money, you won't need to "make" connections. They will fall all over themselves to come to you and manage your money.

Being the client is good.

  • Capt K
- Capt K - "Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
 

"Oh the ladies ever tell you that you look like a fucking optical illusion" - Frank Slaughtery 25th Hour.

"Oh the ladies ever tell you that you look like a fucking optical illusion" - Frank Slaughtery 25th Hour.
 

People are different, and I assume those that would keep working are driven by something other than a thirst for money/luxurious lifestyle, or might not be as satisfied on the 15 million dollar yacht with hot babes etc. The various positions are all valid in their own respect and I don't think you can say one is superior to another, unless you are speaking in regards to your personal desires, and it would be silly to attempt to superimpose those onto everyone else.

 
Underground:
People are different, and I assume those that would keep working are driven by something other than a thirst for money/luxurious lifestyle, or might not be as satisfied on the 15 million dollar yacht with hot babes etc. The various positions are all valid in their own respect and I don't think you can say one is superior to another, unless you are speaking in regards to your personal desires, and it would be silly to attempt to superimpose those onto everyone else.

Got to agree with TheKing on this one... if you seriously would keep working in IBD after winning the lottery, you need a serious cocksmack to the face.

Underground:
People are different, and I assume those that would keep working are driven by something other than a thirst for money/luxurious lifestyle, or might not be as satisfied on the 15 million dollar yacht with hot babes etc. The various positions are all valid in their own respect and I don't think you can say one is superior to another, unless you are speaking in regards to your personal desires, and it would be silly to attempt to superimpose those onto everyone else.

Let me be very clear here. This is not a discussion of our values relative to one another. This is a discussion as to whether or not you would continue to work as an analyst if you won the lotto.

If you would choose to continue working 80-110 hour weeks formatting comps, writing CIMs, and running DCF analyses, then you deserve to get fucked in the ass in a prison shower, American History X style.

I refuse to believe that anyone in this thread that claimed that they would continue to work has EVER worked a day as an analyst. It is simply impossible to have done this and say something so fucking absurd.

 

Dude, you are making a huge assumption here... not everyone in this forum works as an analyst in IBD. You can't assume that their saying 'work' implied that they'd return to a thankless, draining, 100+hr/wk spot in IBD. It's just not the case.

Anyway, don't you think you're getting a little over-excited for an anonymous internet forum? You really get 'visibly angry' over this bullshit?

Follow me on insta @FinancialDemigod
 

AssociateGuerrila, I am not making an assumption here...the OP said "Would you continue to work in banking if you hit the lottery tomorrow?" My replies have been directed at people who said they would continue working in banking. And guess what, the majority of the people on this site are either analysts, aspiring analysts, or associates.

Spinner, yes I realize how lucky I am. Yes, there are aspects that I like about my job. However, who in their right fucking mind would continue doing this if they were handed millions of dollars. You've got to be kidding me.

We are discussing an absurd hypothetical scenario and people are giving responses that ought to make you question their very humanity.

 

right. if some guy actually continued to work in his analyst/associate job then he would actually be paying to work (biggest bang for your buck would be from figuring out investments for your money)

myself, I would spend all my time with golf an ouzo. whatever makes you happy.

 

Start a hedge fund and turn it into billions! And in the mean time buy a massive crib, a few nice whips, and chill. Oh, yeah and I guess I'd have to give some to my parents since they did raise me and all.

Rules are for the obedience of fools and the guidance of wise men.
 

i wuld use the mony to buy lots of wall st. prep clases and mock invesmtent banker interviws to make sure i am proprerly prepared to be a invesmtn banker. cuz i mean 356 milion dolalrs is a lot of money but a invesment banker can make more then that if he want to. i mean look at loyd bankfine he is rich and prety cool guy (cuz he is a ceo of all investmetn bankers)

i laugh at all you dum boys sayin " i will travel tha world" lolol what are you going to do when i pass you up in da amount of money i have cuz while u were busy travellin the world i was a invesmet banker making lots of money and models and bottles

 
Blalock:
i wuld use the mony to buy lots of wall st. prep clases and mock invesmtent banker interviws to make sure i am proprerly prepared to be a invesmtn banker. cuz i mean 356 milion dolalrs is a lot of money but a invesment banker can make more then that if he want to. i mean look at loyd bankfine he is rich and prety cool guy (cuz he is a ceo of all investmetn bankers)

i laugh at all you dum boys sayin " i will travel tha world" lolol what are you going to do when i pass you up in da amount of money i have cuz while u were busy travellin the world i was a invesmet banker making lots of money and models and bottles

are you...wait...could it be? is there like, um...any chance you might be...trollin'?
 
IlliniProgrammer:

Buy 20,000 Core I7 Processors and start solving bitcoin problems.

Don't forget electricity costs.

"For I am a sinner in the hands of an angry God. Bloody Mary full of vodka, blessed are you among cocktails. Pray for me now and at the hour of my death, which I hope is soon. Amen."
 

Assuming you would net around $1 mil from the winnings....

I would keep around $200K for fun and throw the other $800K into my brokerage account and invest it in broad market index funds. That would make retirement awesome.

With the $150K I would...buy a new car ($50K?), get a new wardrode ($5K?), Give some to my parents ($40K), Buy a boat for the lake (parents would benefit from this) ($30K), motorcycle ($15K), $20K to my little brother

The rest ($40K) to party, do some traveling, to afford the gas for my truck, since I'd be driving a sick F150 in the city.

 

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Praesentium harum quia consequuntur aut quia totam. Quae ratione qui consequuntur neque consequatur. Deleniti quod minus maiores magni et voluptatem labore.

If I had asked people what they wanted, they would have said faster horses - Henry Ford
 

Aperiam sequi quaerat quod officiis. Nemo ut soluta provident est deleniti voluptatem aut nemo. Eius accusamus atque omnis quibusdam et. Rerum dicta voluptatem consequatur. Sunt quo laudantium velit ut molestiae est dolore.

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Alias harum qui pariatur quibusdam. Voluptates et occaecati velit optio nulla deserunt neque delectus. Adipisci doloremque fugit et.

 

Molestiae qui dolore ut architecto rerum optio totam. Eos fuga nihil voluptatem nesciunt. Non tenetur eligendi doloremque voluptatem. Ratione recusandae architecto vero porro dignissimos dignissimos atque. Ut tenetur autem expedita atque quos pariatur.

Soluta et est nihil omnis adipisci. Qui sit magnam architecto quia. Voluptate officiis et neque quisquam enim culpa. Et quasi qui tempore et provident suscipit. Mollitia accusantium id ullam odit.

Velit beatae atque neque eum. Sit et consequatur eligendi eius. Ut ut labore qui sunt vel. Dolorem sed autem velit aperiam. Iusto nesciunt repellendus possimus omnis maiores est non ipsam. Est inventore quia ex quia laboriosam a pariatur.

 

Ut dolore sed aliquam vitae quo ducimus. Vero facere quod quos voluptates consequatur. Corporis at officiis cupiditate architecto quia rerum voluptate. Reprehenderit aut dolorem quis nobis deleniti dolorem cupiditate. Distinctio ut quam et quos. Facere voluptas laborum commodi amet aspernatur eos.

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Error sit qui et officia necessitatibus quibusdam. Sint est autem aut ad eaque amet impedit praesentium.

People demand freedom of speech as a compensation for freedom of thought which they seldom use.
 

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